Florida Senate - 2014                                    SB 1482
       
       
        
       By Senator Thompson
       
       
       
       
       
       12-00569-14                                           20141482__
    1                        A bill to be entitled                      
    2         An act relating to tax credits; amending s. 212.097,
    3         F.S.; providing that a tax credit provided to a
    4         qualified business for operating in a high-crime area
    5         is revoked if the area no longer qualifies as a high
    6         crime area; making technical corrections; providing an
    7         effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Present subsections (10) and (11) of section
   12  212.097, Florida Statutes, are amended, and a new subsection
   13  (11) is added to that section, to read:
   14         212.097 Urban High-Crime Area Job Tax Credit Program.—
   15         (10)(a) In order to claim this credit, an eligible business
   16  must file an application under oath with the Department of
   17  Economic Opportunity which a statement that includes the name
   18  and address of the eligible business and any other information
   19  that is required to process the application.
   20         (a)(b) Applications shall be reviewed and certified
   21  pursuant to s. 288.061.
   22         (b)(c) The maximum credit amount that may be approved
   23  during any calendar year is $5 million, of which $1 million
   24  shall be exclusively reserved for tier-one areas. The Department
   25  of Revenue, in conjunction with the Department of Economic
   26  Opportunity, shall notify the governing bodies in areas
   27  designated as urban high-crime areas when the $5 million maximum
   28  amount has been reached. Applications shall must be considered
   29  for approval in the order in which they are received without
   30  regard to whether the credit is for a new or existing business.
   31  This limitation applies to the value of the credit as contained
   32  in approved applications. Approved credits may be taken in the
   33  time and manner allowed pursuant to this section.
   34         (c)(11) If the application is insufficient to support the
   35  credit authorized in this section, the Department of Economic
   36  Opportunity shall deny the credit and notify the business of
   37  that fact. The business may reapply for this credit within 3
   38  months after such notification.
   39         (d) Any credit approved pursuant to this section must be
   40  revoked if the area in which the eligible business is located is
   41  no longer classified as a qualified high-crime area.
   42         (11) The maximum credit amount that may be approved during
   43  a calendar year is $5 million, of which $1 million shall be
   44  exclusively reserved for tier-one areas. The Department of
   45  Revenue, in conjunction with the Department of Economic
   46  Opportunity, shall notify the governing bodies in areas
   47  designated as urban high-crime areas when the $5 million maximum
   48  credit amount has been reached.
   49         Section 2. This act shall take effect July 1, 2014.