Florida Senate - 2014                          SENATOR AMENDMENT
       Bill No. HB 5601
       
       
       
       
       
       
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                              LEGISLATIVE ACTION                        
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       Senator Simpson moved the following:
       
    1         Senate Amendment to Amendment (965938) (with title
    2  amendment)
    3  
    4         Between lines 1284 and 1285
    5  insert:
    6         Section 21. Paragraph (p) of subsection (5) of section
    7  212.08, Florida Statutes, is amended to read:
    8         212.08 Sales, rental, use, consumption, distribution, and
    9  storage tax; specified exemptions.—The sale at retail, the
   10  rental, the use, the consumption, the distribution, and the
   11  storage to be used or consumed in this state of the following
   12  are hereby specifically exempt from the tax imposed by this
   13  chapter.
   14         (5) EXEMPTIONS; ACCOUNT OF USE.—
   15         (p) Community contribution tax credit for donations.—
   16         1. Authorization.—Persons who are registered with the
   17  department under s. 212.18 to collect or remit sales or use tax
   18  and who make donations to eligible sponsors are eligible for tax
   19  credits against their state sales and use tax liabilities as
   20  provided in this paragraph:
   21         a. The credit shall be computed as 50 percent of the
   22  person’s approved annual community contribution.
   23         b. The credit shall be granted as a refund against state
   24  sales and use taxes reported on returns and remitted in the 12
   25  months preceding the date of application to the department for
   26  the credit as required in sub-subparagraph 3.c. If the annual
   27  credit is not fully used through such refund because of
   28  insufficient tax payments during the applicable 12-month period,
   29  the unused amount may be included in an application for a refund
   30  made pursuant to sub-subparagraph 3.c. in subsequent years
   31  against the total tax payments made for such year. Carryover
   32  credits may be applied for a 3-year period without regard to any
   33  time limitation that would otherwise apply under s. 215.26.
   34         c. A person may not receive more than $200,000 in annual
   35  tax credits for all approved community contributions made in any
   36  one year.
   37         d. All proposals for the granting of the tax credit require
   38  the prior approval of the Department of Economic Opportunity.
   39         e. The total amount of tax credits which may be granted for
   40  all programs approved under this paragraph, s. 220.183, and s.
   41  624.5105 is $10.5 million annually for projects that provide
   42  homeownership opportunities for low-income households or very
   43  low-income households as those terms are defined in s.
   44  420.9071(19) and (28) and $3.5 million annually for all other
   45  projects.
   46         f. A person who is eligible to receive the credit provided
   47  for in this paragraph, s. 220.183, or s. 624.5105 may receive
   48  the credit only under the one section of the person’s choice.
   49         2. Eligibility requirements.—
   50         a. A community contribution by a person must be in the
   51  following form:
   52         (I) Cash or other liquid assets;
   53         (II) Real property;
   54         (III) Goods or inventory; or
   55         (IV) Other physical resources as identified by the
   56  Department of Economic Opportunity.
   57         b. All community contributions must be reserved exclusively
   58  for use in a project. As used in this sub-subparagraph, the term
   59  “project” means any activity undertaken by an eligible sponsor
   60  which is designed to construct, improve, or substantially
   61  rehabilitate housing that is affordable to low-income households
   62  or very-low-income households as those terms are defined in s.
   63  420.9071(19) and (28); designed to provide commercial,
   64  industrial, or public resources and facilities; or designed to
   65  improve entrepreneurial and job-development opportunities for
   66  low-income persons. A project may be the investment necessary to
   67  increase access to high-speed broadband capability in rural
   68  communities with enterprise zones, including projects that
   69  result in improvements to communications assets that are owned
   70  by a business. A project may include the provision of museum
   71  educational programs and materials that are directly related to
   72  a any project approved between January 1, 1996, and December 31,
   73  1999, and located in an enterprise zone designated pursuant to
   74  s. 290.0065. This paragraph does not preclude projects that
   75  propose to construct or rehabilitate housing for low-income
   76  households or very-low-income households on scattered sites.
   77  With respect to housing, contributions may be used to pay the
   78  following eligible low-income and very-low-income housing
   79  related activities:
   80         (I) Project development impact and management fees for low
   81  income or very-low-income housing projects;
   82         (II) Down payment and closing costs for low-income persons
   83  and very-low-income eligible persons, as those terms are defined
   84  in s. 420.9071(19) and (28);
   85         (III) Administrative costs, including housing counseling
   86  and marketing fees, not to exceed 10 percent of the community
   87  contribution, directly related to low-income or very-low-income
   88  projects; and
   89         (IV) Removal of liens recorded against residential property
   90  by municipal, county, or special district local governments if
   91  when satisfaction of the lien is a necessary precedent to the
   92  transfer of the property to a low-income person or very-low-
   93  income an eligible person, as those terms are defined in s.
   94  420.9071(19) and (28), for the purpose of promoting home
   95  ownership. Contributions for lien removal must be received from
   96  a nonrelated third party.
   97         c. The project must be undertaken by an “eligible sponsor,”
   98  which includes:
   99         (I) A community action program;
  100         (II) A nonprofit community-based development organization
  101  whose mission is the provision of housing for low-income
  102  households or very-low-income households or increasing
  103  entrepreneurial and job-development opportunities for low-income
  104  persons;
  105         (III) A neighborhood housing services corporation;
  106         (IV) A local housing authority created under chapter 421;
  107         (V) A community redevelopment agency created under s.
  108  163.356;
  109         (VI) A historic preservation district agency or
  110  organization;
  111         (VII) A regional workforce board;
  112         (VIII) A direct-support organization as provided in s.
  113  1009.983;
  114         (IX) An enterprise zone development agency created under s.
  115  290.0056;
  116         (X) A community-based organization incorporated under
  117  chapter 617 which is recognized as educational, charitable, or
  118  scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
  119  and whose bylaws and articles of incorporation include
  120  affordable housing, economic development, or community
  121  development as the primary mission of the corporation;
  122         (XI) Units of local government;
  123         (XII) Units of state government; or
  124         (XIII) Any other agency that the Department of Economic
  125  Opportunity designates by rule.
  126  
  127  In no event may A contributing person may not have a financial
  128  interest in the eligible sponsor.
  129         d. The project must be located in an area designated an
  130  enterprise zone or a Front Porch Florida Community, unless the
  131  project increases access to high-speed broadband capability for
  132  rural communities that have with enterprise zones but is
  133  physically located outside the designated rural zone boundaries.
  134  Any project designed to construct or rehabilitate housing for
  135  low-income households or very-low-income households as those
  136  terms are defined in s. 420.9071(19) and (28) is exempt from the
  137  area requirement of this sub-subparagraph.
  138         e.(I) If, during the first 10 business days of the state
  139  fiscal year, eligible tax credit applications for projects that
  140  provide homeownership opportunities for low-income households or
  141  very-low-income households as those terms are defined in s.
  142  420.9071(19) and (28) are received for less than the annual tax
  143  credits available for those projects, the Department of Economic
  144  Opportunity shall grant tax credits for those applications and
  145  shall grant remaining tax credits on a first-come, first-served
  146  basis for any subsequent eligible applications received before
  147  the end of the state fiscal year. If, during the first 10
  148  business days of the state fiscal year, eligible tax credit
  149  applications for projects that provide homeownership
  150  opportunities for low-income households or very-low-income
  151  households as those terms are defined in s. 420.9071(19) and
  152  (28) are received for more than the annual tax credits available
  153  for those projects, the Department of Economic Opportunity shall
  154  grant the tax credits for those applications as follows:
  155         (A) If tax credit applications submitted for approved
  156  projects of an eligible sponsor do not exceed $200,000 in total,
  157  the credits shall be granted in full if the tax credit
  158  applications are approved.
  159         (B) If tax credit applications submitted for approved
  160  projects of an eligible sponsor exceed $200,000 in total, the
  161  amount of tax credits granted pursuant to sub-sub-sub
  162  subparagraph (A) shall be subtracted from the amount of
  163  available tax credits, and the remaining credits shall be
  164  granted to each approved tax credit application on a pro rata
  165  basis.
  166         (II) If, during the first 10 business days of the state
  167  fiscal year, eligible tax credit applications for projects other
  168  than those that provide homeownership opportunities for low
  169  income households or very-low-income households as those terms
  170  are defined in s. 420.9071(19) and (28) are received for less
  171  than the annual tax credits available for those projects, the
  172  Department of Economic Opportunity shall grant tax credits for
  173  those applications and shall grant remaining tax credits on a
  174  first-come, first-served basis for any subsequent eligible
  175  applications received before the end of the state fiscal year.
  176  If, during the first 10 business days of the state fiscal year,
  177  eligible tax credit applications for projects other than those
  178  that provide homeownership opportunities for low-income
  179  households or very-low-income households as those terms are
  180  defined in s. 420.9071(19) and (28) are received for more than
  181  the annual tax credits available for those projects, the
  182  Department of Economic Opportunity shall grant the tax credits
  183  for those applications on a pro rata basis.
  184         3. Application requirements.—
  185         a. Any eligible sponsor seeking to participate in this
  186  program must submit a proposal to the Department of Economic
  187  Opportunity which sets forth the name of the sponsor, a
  188  description of the project, and the area in which the project is
  189  located, together with such supporting information as is
  190  prescribed by rule. The proposal must also contain a resolution
  191  from the local governmental unit in which the project is located
  192  certifying that the project is consistent with local plans and
  193  regulations.
  194         b. Any person seeking to participate in this program must
  195  submit an application for tax credit to the Department of
  196  Economic Opportunity which sets forth the name of the sponsor, a
  197  description of the project, and the type, value, and purpose of
  198  the contribution. The sponsor shall verify, in writing, the
  199  terms of the application and indicate its receipt of the
  200  contribution, and such which verification must be in writing and
  201  accompany the application for tax credit. The person must submit
  202  a separate tax credit application to the Department of Economic
  203  Opportunity for each individual contribution that it makes to
  204  each individual project.
  205         c. Any person who has received notification from the
  206  Department of Economic Opportunity that a tax credit has been
  207  approved must apply to the department to receive the refund.
  208  Application must be made on the form prescribed for claiming
  209  refunds of sales and use taxes and be accompanied by a copy of
  210  the notification. A person may submit only one application for
  211  refund to the department within a any 12-month period.
  212         4. Administration.—
  213         a. The Department of Economic Opportunity may adopt rules
  214  pursuant to ss. 120.536(1) and 120.54 necessary to administer
  215  this paragraph, including rules for the approval or disapproval
  216  of proposals by a person.
  217         b. The decision of the Department of Economic Opportunity
  218  must be in writing, and, if approved, the notification shall
  219  state the maximum credit allowable to the person. Upon approval,
  220  the Department of Economic Opportunity shall transmit a copy of
  221  the decision to the department of Revenue.
  222         c. The Department of Economic Opportunity shall
  223  periodically monitor all projects in a manner consistent with
  224  available resources to ensure that resources are used in
  225  accordance with this paragraph; however, each project must be
  226  reviewed at least once every 2 years.
  227         d. The Department of Economic Opportunity shall, in
  228  consultation with the statewide and regional housing and
  229  financial intermediaries, market the availability of the
  230  community contribution tax credit program to community-based
  231  organizations.
  232         5. Expiration.—This paragraph expires June 30, 2016 2015;
  233  however, any accrued credit carryover that is unused on that
  234  date may be used until the expiration of the 3-year carryover
  235  period for such credit.
  236         Section 22. Subsection (5) of section 220.183, Florida
  237  Statutes, is amended to read:
  238         220.183 Community contribution tax credit.—
  239         (5) EXPIRATION.—The provisions of this section, except
  240  paragraph (1)(e), shall expire and are be void on June 30, 2016
  241  2015.
  242         Section 23. Subsection (6) of section 624.5105, Florida
  243  Statutes, is amended to read:
  244         624.5105 Community contribution tax credit; authorization;
  245  limitations; eligibility and application requirements;
  246  administration; definitions; expiration.—
  247         (6) EXPIRATION.—The provisions of this section, except
  248  paragraph (1)(e), shall expire and are be void on June 30, 2016
  249  2015.
  250  
  251  ================= T I T L E  A M E N D M E N T ================
  252  And the title is amended as follows:
  253         Delete line 1448
  254  and insert:
  255         direct written premiums for bail bonds; amending ss.
  256         212.08, 220.183, and 624.5105, F.S.; postponing the
  257         expiration date applicable to the granting of the
  258         community contribution tax credit against the sales
  259         and use tax, corporate income tax, and insurance
  260         premium tax for contributions and donations to
  261         eligible sponsors of revitalization and housing
  262         projects approved by the Department of Economic
  263         Opportunity; specifying a