Florida Senate - 2015 COMMITTEE AMENDMENT
Bill No. SB 1214
Ì261448:Î261448
LEGISLATIVE ACTION
Senate . House
Comm: RCS .
03/23/2015 .
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Appropriations Subcommittee on Transportation, Tourism, and
Economic Development (Latvala) recommended the following:
1 Senate Amendment (with title amendment)
2
3 Delete line 886
4 and insert:
5 Section 13. Present subsection (6) of section 288.061,
6 Florida Statutes, is redesignated as subsection (7), and a new
7 subsection (6) is added to that section, to read:
8 288.061 Economic development incentive application
9 process.—
10 (6)(a) The department is authorized to execute contracts
11 and agreements that obligate the state to make payments from
12 appropriations in the current or a future fiscal year for
13 incentive programs specified in this paragraph. The total amount
14 of actual or projected funds approved for payment by the
15 department based on actual project performance and the schedule
16 of payments for each incentive contract or agreement may not
17 exceed a combined total of $50 million in any fiscal year for
18 all of the following:
19 1. The Local Government Distressed Area Matching Grant
20 Program established under s. 288.0659.
21 2. The qualified defense contractor and space flight
22 business tax refund program established under s. 288.1045.
23 3. The qualified target industry businesses tax refund
24 program established under s. 288.106.
25 4. The brownfield redevelopment bonus refund program
26 established under s. 288.107.
27 5. The high-impact business performance grant program
28 established under s. 288.108.
29 6. The Quick Action Closing Fund projects established under
30 s. 288.1088, with the exception of those projects with funds
31 held in escrow as of June 30, 2015, which are being paid out of
32 the Quick Action Closing Fund Escrow Account under s. 288.095.
33 7. The Innovation Incentive Program established under s.
34 288.1089.
35 (b) The funding limitation under paragraph (a) may only be
36 waived by the Legislature in the General Appropriations Act or
37 other legislation.
38 (c) The department shall provide notice, including an
39 updated description and evaluation, to the Legislature upon the
40 final execution of each contract or agreement.
41 (d) By January 2 of each year, the department shall provide
42 to the Legislature a list of projected payments for the
43 following fiscal year and, by March 1 of each year, the
44 department shall provide to the Legislature a list of claims
45 actually filed for payment in the following fiscal year. The
46 department may not make a scheduled payment under a contract or
47 agreement for a given fiscal year until the department has
48 validated that the applicant has met the performance
49 requirements of the contract or agreement. The department may
50 only make payments to the applicant and not to a third party.
51 Any funds appropriated for scheduled payments in a fiscal year
52 which are unexpended by June 30 of that year shall revert in
53 accordance with s. 216.301 and may not be transferred to an
54 escrow account.
55 (e) The Legislature shall annually appropriate in the
56 General Appropriations Act an amount estimated to be sufficient
57 to satisfy scheduled payments in the coming fiscal year. If the
58 amount appropriated by the Legislature proves insufficient to
59 satisfy the scheduled payments, the department shall pay the
60 unfunded claims from the appropriation for the next fiscal year.
61 By March 1 of each year, the department shall notify the
62 legislative appropriations committees of any such anticipated
63 shortfall for the current fiscal year and of the amount it
64 estimates will be needed to pay claims during the next fiscal
65 year.
66 Section 14. Section 288.095, Florida Statutes, is amended
67 to read:
68 288.095 Economic Development Trust Fund.—
69 (1) The Economic Development Trust Fund is created within
70 the Department of Economic Opportunity. Moneys deposited into
71 the fund must be used only to support the authorized activities
72 and operations of the department. Moneys credited to the trust
73 fund consist of local financial support funds; funds transferred
74 from Enterprise Florida, Inc., which were held in an escrow
75 account on June 30, 2015, for an approved Quick Action Closing
76 Fund project; and interest earnings.
77 (2) There is created, within the Economic Development Trust
78 Fund, the Economic Development Incentives Account. The Economic
79 Development Incentives Account consists of moneys transferred
80 from local governments as local financial support appropriated
81 to the account for purposes of the tax incentives programs
82 authorized under ss. 288.1045, and 288.106, and 288.107 local
83 financial support provided under ss. 288.1045 and 288.106.
84 Moneys in the Economic Development Incentives Account may be
85 used only to pay tax refunds and make other payments authorized
86 under s. 288.1045, s. 288.106, or s. 288.107, and may only be
87 expended pursuant to Legislative appropriation or an approved
88 amendment to the department’s operating budget pursuant to
89 chapter 216. Notwithstanding s. 216.301, and pursuant to s.
90 216.351, any balance in the account at the end of a fiscal year
91 remains in the account and is available for carrying out the
92 purposes of the account shall be subject to the provisions of s.
93 216.301(1)(a).
94 (3)(a) There is created, within the Economic Development
95 Trust Fund, the Quick Action Closing Fund Escrow Account. The
96 Quick Action Closing Fund Escrow Account consists of moneys
97 transferred from Enterprise Florida, Inc., which were held in an
98 escrow account on June 30, 2015, for approved Quick Action
99 Closing Fund contracts or agreements. Moneys in the Quick Action
100 Closing Fund Escrow Account may be used only for the purpose of
101 making payments authorized under s. 288.1088 for projects
102 authorized by these contracts or agreements. A continuing
103 appropriation category shall be established to make payments
104 from the account. If an approved Quick Action Closing Fund
105 project is terminated, the department shall submit a budget
106 amendment to place the budget authority associated with the
107 terminated award into reserve. The funds associated with the
108 terminated award shall immediately revert to the State Economic
109 Enhancement and Development Trust Fund. The continuing
110 appropriation category expires on June 30, 2029.
111 (b) Notwithstanding s. 216.301, and pursuant to s. 216.351,
112 any balance in the account at the end of a fiscal year remains
113 in the account and is available for carrying out the purposes of
114 the account. Any interest earnings in the account revert to the
115 State Economic Enhancement and Development Trust Fund on June 30
116 of each fiscal year. The Quick Action Closing Fund Escrow
117 Account expires on June 30, 2029, and any funds remaining in the
118 account shall revert to the State Economic Enhancement and
119 Development Trust Fund. The department may approve applications
120 for certification pursuant to ss. 288.1045(3) and 288.106.
121 However, the total state share of tax refund payments may not
122 exceed $35 million.
123 (b) The total amount of tax refund claims approved for
124 payment by the department based on actual project performance
125 may not exceed the amount appropriated to the Economic
126 Development Incentives Account for such purposes for the fiscal
127 year. Claims for tax refunds under ss. 288.1045 and 288.106
128 shall be paid in the order the claims are approved by the
129 department. In the event the Legislature does not appropriate an
130 amount sufficient to satisfy the tax refunds under ss. 288.1045
131 and 288.106 in a fiscal year, the department shall pay the tax
132 refunds from the appropriation for the following fiscal year. By
133 March 1 of each year, the department shall notify the
134 legislative appropriations committees of the Senate and House of
135 Representatives of any anticipated shortfall in the amount of
136 funds needed to satisfy claims for tax refunds from the
137 appropriation for the current fiscal year.
138 (c) Moneys in the Economic Development Incentives Account
139 may be used only to pay tax refunds and make other payments
140 authorized under s. 288.1045, s. 288.106, or s. 288.107.
141 (4)(d) The department may adopt rules necessary to carry
142 out the provisions of this subsection, including rules providing
143 for the use of moneys in the Economic Development Incentives
144 Account and for the administration of the Economic Development
145 Incentives Account and the Quick Action Closing Fund Escrow
146 Account.
147 Section 15. By July 10, 2015, Enterprise Florida, Inc.,
148 shall transfer any funds held in an escrow account on June 30,
149 2015, for approved Quick Action Closing Fund contracts or
150 agreements to the Quick Action Closing Fund Escrow Account
151 within the Economic Development Trust Fund.
152 Section 16. Paragraphs (a), (c), (e), and (f) of subsection
153 (2), paragraph (h) of subsection (3), and paragraph (e) of
154 subsection (5) of section 288.1045, Florida Statutes, are
155 amended to read:
156 288.1045 Qualified defense contractor and space flight
157 business tax refund program.—
158 (2) GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.—
159 (a) There shall be allowed, from the Economic Development
160 Trust Fund, a refund to a qualified applicant for the amount of
161 eligible taxes certified by the department which were paid by
162 such qualified applicant. The total amount of refunds for all
163 fiscal years for each qualified applicant shall be determined
164 pursuant to subsection (3). The annual amount of a refund to a
165 qualified applicant shall be determined pursuant to subsection
166 (5).
167 (c) Contingent upon an annual appropriation by the
168 Legislature, The department may not approve not more in tax
169 refunds than the amount appropriated to the Economic Development
170 Trust Fund for tax refunds, for a fiscal year than the amount
171 specified in s. 288.061 pursuant to subsection (5) and s.
172 288.095.
173 (e) After entering into a tax refund agreement pursuant to
174 subsection (4), a qualified applicant may:
175 1. Receive refunds from the account for corporate income
176 taxes due and paid pursuant to chapter 220 by that business
177 beginning with the first taxable year of the business which
178 begins after entering into the agreement.
179 2. Receive refunds from the account for the following taxes
180 due and paid by that business after entering into the agreement:
181 a. Taxes on sales, use, and other transactions paid
182 pursuant to chapter 212.
183 b. Intangible personal property taxes paid pursuant to
184 chapter 199.
185 c. Excise taxes paid on documents pursuant to chapter 201.
186 d. Ad valorem taxes paid, as defined in s. 220.03(1)(a) on
187 June 1, 1996.
188 e. State communications services taxes administered under
189 chapter 202. This provision does not apply to the gross receipts
190 tax imposed under chapter 203 and administered under chapter 202
191 or the local communications services tax authorized under s.
192 202.19.
193
194 However, a qualified applicant may not receive a tax refund
195 pursuant to this section for any amount of credit, refund, or
196 exemption granted such contractor for any of such taxes. If a
197 refund for such taxes is provided by the department, which taxes
198 are subsequently adjusted by the application of any credit,
199 refund, or exemption granted to the qualified applicant other
200 than that provided in this section, the qualified applicant
201 shall reimburse the department Economic Development Trust Fund
202 for the amount of such credit, refund, or exemption. A qualified
203 applicant must notify and tender payment to the department
204 within 20 days after receiving a credit, refund, or exemption,
205 other than that provided in this section.
206 (f) Any qualified applicant who fraudulently claims this
207 refund is liable for repayment of the refund to the department
208 Economic Development Trust Fund plus a mandatory penalty of 200
209 percent of the tax refund which shall be deposited into the
210 General Revenue Fund. Any qualified applicant who fraudulently
211 claims this refund commits a felony of the third degree,
212 punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
213 (3) APPLICATION PROCESS; REQUIREMENTS; AGENCY
214 DETERMINATION.—
215 (h) The department may not certify any applicant as a
216 qualified applicant when the value of tax refunds to be included
217 in that letter of certification exceeds the available amount of
218 authority to certify a new business in any fiscal year
219 businesses as determined pursuant to s. 288.061(6) in s.
220 288.095(3). A letter of certification that approves an
221 application must specify the maximum amount of a tax refund that
222 is to be available to the contractor for each fiscal year and
223 the total amount of tax refunds for all fiscal years.
224 (5) ANNUAL CLAIM FOR REFUND.—
225 (e) The total amount of tax refunds approved by the
226 department under this section in any fiscal year may not exceed
227 the amount authorized under s. 288.061(6) s. 288.095(3).
228 Section 17. Paragraph (k) of subsection (2), paragraphs
229 (a), (d), (e), and (g) of subsection (3), paragraph (e) of
230 subsection (4), and paragraphs (d) and (g) of subsection (6) of
231 section 288.106, Florida Statutes, are amended to read:
232 288.106 Tax refund program for qualified target industry
233 businesses.—
234 (2) DEFINITIONS.—As used in this section:
235 (k) “Local financial support exemption option” means the
236 option to exercise an exemption from the local financial support
237 requirement available to an any applicant whose project is
238 located in a brownfield area, a rural city, or a rural
239 community. Any applicant that exercises this option is not
240 eligible for more than 80 percent of the total tax refunds
241 allowed such applicant under this section.
242 (3) TAX REFUND; ELIGIBLE AMOUNTS.—
243 (a) There shall be allowed, from the account, a refund to a
244 qualified target industry business for the amount of eligible
245 taxes certified by the department that were paid by the
246 business. The total amount of refunds for all fiscal years for
247 each qualified target industry business must be determined
248 pursuant to subsection (4). The annual amount of a refund to a
249 qualified target industry business must be determined pursuant
250 to subsection (6).
251 (d) After entering into a tax refund agreement under
252 subsection (5), a qualified target industry business may:
253 1. Receive refunds from the account for the following taxes
254 due and paid by that business beginning with the first taxable
255 year of the business that begins after entering into the
256 agreement:
257 a. Corporate income taxes under chapter 220.
258 b. Insurance premium tax under s. 624.509.
259 2. Receive refunds from the account for the following taxes
260 due and paid by that business after entering into the agreement:
261 a. Taxes on sales, use, and other transactions under
262 chapter 212.
263 b. Intangible personal property taxes under chapter 199.
264 c. Excise taxes on documents under chapter 201.
265 d. Ad valorem taxes paid, as defined in s. 220.03(1).
266 e. State communications services taxes administered under
267 chapter 202. This provision does not apply to the gross receipts
268 tax imposed under chapter 203 and administered under chapter 202
269 or the local communications services tax authorized under s.
270 202.19.
271 (e) However, a qualified target industry business may not
272 receive a refund under this section for any amount of credit,
273 refund, or exemption previously granted to that business for any
274 of the taxes listed in paragraph (d). If a refund for such taxes
275 is provided by the department, which taxes are subsequently
276 adjusted by the application of any credit, refund, or exemption
277 granted to the qualified target industry business other than as
278 provided in this section, the business shall reimburse the
279 department account for the amount of that credit, refund, or
280 exemption. A qualified target industry business shall notify and
281 tender payment to the department within 20 days after receiving
282 any credit, refund, or exemption other than one provided in this
283 section.
284 (g) A qualified target industry business that fraudulently
285 claims a refund under this section:
286 1. Is liable for repayment of the amount of the refund to
287 the department account, plus a mandatory penalty in the amount
288 of 200 percent of the tax refund which shall be deposited into
289 the General Revenue Fund.
290 2. Commits a felony of the third degree, punishable as
291 provided in s. 775.082, s. 775.083, or s. 775.084.
292 (4) APPLICATION AND APPROVAL PROCESS.—
293 (e) The department may not certify any target industry
294 business as a qualified target industry business if the value of
295 tax refunds to be included in that letter of certification
296 exceeds the available amount of authority to certify a new
297 business in any fiscal year businesses as determined pursuant to
298 s. 288.061(6) in s. 288.095(3). However, Except as provided in
299 paragraph (2)(k), if the commitments of local financial support
300 represent less than 20 percent of the eligible tax refund
301 payments, or to otherwise preserve the viability and fiscal
302 integrity of the program, the department may certify a qualified
303 target industry business to receive tax refund payments of less
304 than the allowable amounts specified in paragraph (3)(b). A
305 letter of certification that approves an application must
306 specify the maximum amount of tax refund that will be available
307 to the qualified industry business in each fiscal year and the
308 total amount of tax refunds that will be available to the
309 business for all fiscal years.
310 (6) ANNUAL CLAIM FOR REFUND.—
311 (d) A tax refund may not be approved for a qualified target
312 industry business unless the required local financial support
313 has been paid into the account for that refund. Except as
314 provided in paragraph (2)(k), if the local financial support
315 provided is less than 20 percent of the approved tax refund, the
316 tax refund must be reduced. In no event may the tax refund
317 exceed an amount that is equal to 5 times the amount of the
318 local financial support received. Further, funding from local
319 sources includes any tax abatement granted to that business
320 under s. 196.1995 or the appraised market value of municipal or
321 county land conveyed or provided at a discount to that business.
322 The amount of any tax refund for such business approved under
323 this section must be reduced by the amount of any such tax
324 abatement granted or the value of the land granted, and the
325 limitations in subsection (3) and paragraph (4)(e) must be
326 reduced by the amount of any such tax abatement or the value of
327 the land granted. A report listing all sources of the local
328 financial support shall be provided to the department when such
329 support is paid to the account.
330 (g) The total amount of tax refund claims approved by the
331 department under this section in any fiscal year may must not
332 exceed the amount authorized under s. 288.061(6) s. 288.095(3).
333 Section 18. Subsection (2) and paragraphs (d), (e), and (i)
334 of subsection (4) of section 288.107, Florida Statutes, are
335 amended to read:
336 288.107 Brownfield redevelopment bonus refunds.—
337 (2) BROWNFIELD REDEVELOPMENT BONUS REFUND.—Bonus refunds
338 shall be approved by the department as specified in the final
339 order and allowed from the account as follows:
340 (a) A bonus refund of $2,500 shall be allowed to any
341 qualified target industry business as defined in s. 288.106 for
342 each new Florida job created in a brownfield area eligible for
343 bonus refunds which is claimed on the qualified target industry
344 business’s annual refund claim authorized in s. 288.106(6).
345 (b) A bonus refund of up to $2,500 shall be allowed to any
346 other eligible business as defined in subparagraph (1)(d)2. for
347 each new Florida job created in a brownfield area eligible for
348 bonus refunds which is claimed under an annual claim procedure
349 similar to the annual refund claim authorized in s. 288.106(6).
350 The amount of the refund shall be equal to 20 percent of the
351 average annual wage for the jobs created.
352 (4) PAYMENT OF BROWNFIELD REDEVELOPMENT BONUS REFUNDS.—
353 (d) After entering into a tax refund agreement as provided
354 in s. 288.106 or other similar agreement for other eligible
355 businesses as defined in paragraph (1)(e), an eligible business
356 may receive brownfield redevelopment bonus refunds from the
357 account pursuant to s. 288.106(3)(d).
358 (e) An eligible business that fraudulently claims a refund
359 under this section:
360 1. Is liable for repayment of the amount of the refund to
361 the department account, plus a mandatory penalty in the amount
362 of 200 percent of the tax refund, which shall be deposited into
363 the General Revenue Fund.
364 2. Commits a felony of the third degree, punishable as
365 provided in s. 775.082, s. 775.083, or s. 775.084.
366 (i) The total amount of the bonus refunds approved by the
367 department under this section in any fiscal year may must not
368 exceed the total amount specified in s. 288.061(6) appropriated
369 to the Economic Development Incentives Account for this purpose
370 for the fiscal year. In the event that the Legislature does not
371 appropriate an amount sufficient to satisfy projections by the
372 department for brownfield redevelopment bonus refunds under this
373 section in a fiscal year, the department shall, not later than
374 July 15 of such year, determine the proportion of each
375 brownfield redevelopment bonus refund claim which shall be paid
376 by dividing the amount appropriated for tax refunds for the
377 fiscal year by the projected total of brownfield redevelopment
378 bonus refund claims for the fiscal year. The amount of each
379 claim for a brownfield redevelopment bonus tax refund shall be
380 multiplied by the resulting quotient. If, after the payment of
381 all such refund claims, funds remain in the Economic Development
382 Incentives Account for brownfield redevelopment tax refunds, the
383 department shall recalculate the proportion for each refund
384 claim and adjust the amount of each claim accordingly.
385 Section 19. Subsection (4) of section 288.108, Florida
386 Statutes, is amended to read:
387 288.108 High-impact business.—
388 (4) AUTHORITY TO APPROVE QUALIFIED HIGH-IMPACT BUSINESS
389 PERFORMANCE GRANTS.—
390 (a) The total amount of active performance grants scheduled
391 for payment by the department in any single fiscal year may not
392 exceed the amount specified in s. 288.061(6) lesser of $30
393 million or the amount appropriated by the Legislature for that
394 fiscal year for qualified high-impact business performance
395 grants. If the scheduled grant payments are not made in the year
396 for which they were scheduled in the qualified high-impact
397 business agreement and are rescheduled as authorized in
398 paragraph (3)(e), they are, for purposes of this paragraph,
399 deemed to have been paid in the year in which they were
400 originally scheduled in the qualified high-impact business
401 agreement.
402 (b) If the Legislature does not appropriate an amount
403 sufficient to satisfy the qualified high-impact business
404 performance grant payments scheduled for any fiscal year, the
405 department shall, not later than July 15 of that year, determine
406 the proportion of each grant payment which may be paid by
407 dividing the amount appropriated for qualified high-impact
408 business performance grant payments for the fiscal year by the
409 total performance grant payments scheduled in all performance
410 grant agreements for the fiscal year. The amount of each grant
411 scheduled for payment in that fiscal year must be multiplied by
412 the resulting quotient. All businesses affected by this
413 calculation must be notified by August 1 of each fiscal year.
414 If, after the payment of all the refund claims, funds remain in
415 the appropriation for payment of qualified high-impact business
416 performance grants, the department shall recalculate the
417 proportion for each performance grant payment and adjust the
418 amount of each claim accordingly.
419 Section 20. Subsection (4) of section 288.1088, Florida
420 Statutes, is amended to read:
421 288.1088 Quick Action Closing Fund.—
422 (4) Funds appropriated by the Legislature for purposes of
423 implementing this section shall be placed in reserve and may
424 only be released pursuant to the legislative consultation and
425 review requirements set forth in this section.
426 Section 21. Subsection (2) of section 288.1201, Florida
427 Statutes, is amended to read:
428 288.1201 State Economic Enhancement and Development Trust
429 Fund.—
430 (2) The trust fund is established for use as a depository
431 for funds to be used for the purposes specified in subsection
432 (1). Moneys to be credited to the trust fund shall consist of
433 documentary stamp tax proceeds as specified in law, local
434 financial support funds, interest earnings, reversions specified
435 in law, and cash advances from other trust funds. Funds shall be
436 expended only pursuant to legislative appropriation or an
437 approved amendment to the department’s operating budget pursuant
438 to the provisions of chapter 216.
439 Section 22. This act shall take effect July 1, 2015.
440
441 ================= T I T L E A M E N D M E N T ================
442 And the title is amended as follows:
443 Delete lines 140 - 141
444 and insert:
445 report to certain persons; amending s. 288.061, F.S.;
446 authorizing the department to execute specified
447 contracts and agreements from current or future fiscal
448 year appropriations for specified incentive programs;
449 prohibiting the total amount of actual or projected
450 funds approved for a specified payment by the
451 department from exceeding a specified amount in any
452 fiscal year for certain programs; providing that the
453 specified funding limitation may only be waived by the
454 Legislature in the General Appropriations Act or other
455 legislation; requiring the department to provide
456 specified notice to the Legislature upon the final
457 execution of each contract or agreement; requiring the
458 department to provide to the Legislature a list of
459 projected payments for the following fiscal year and a
460 list of claims actually filed for payment in the
461 following fiscal year by specified dates; prohibiting
462 the department from making a scheduled payment under a
463 contract or agreement for a given fiscal year until
464 the department has validated that the applicant has
465 met the performance requirements of the contract or
466 agreement; providing that the department may only make
467 payments to the applicant; providing for reversion of
468 specified funds that are unexpended by a specified
469 date in a fiscal year; requiring the Legislature to
470 annually appropriate in the General Appropriations Act
471 an amount estimated to sufficiently satisfy scheduled
472 payments in a fiscal year; requiring the department to
473 pay unfunded claims if the amount appropriated by the
474 Legislature proves insufficient to satisfy the
475 scheduled payments in a fiscal year; requiring the
476 department to notify the legislative appropriations
477 committees of any anticipated shortfall for the
478 current fiscal year and of the amount it estimates
479 will be needed to pay claims during the next fiscal
480 year; amending s. 288.095, F.S.; providing that moneys
481 credited to the Economic Development Trust Fund
482 consist of specified funds and interest earnings;
483 restricting the use of moneys in the Economic
484 Development Incentives Account; providing that any
485 balance in the account at the end of the fiscal year
486 remains in the account and is available for carrying
487 out the purposes of the account; creating the Quick
488 Action Closing Fund Escrow Account within the Economic
489 Development Trust Fund; restricting the use of moneys
490 in the Quick Action Closing Fund Escrow Account;
491 providing for the establishment of a continuing
492 appropriation category to make payments from the
493 account; requiring the department to submit a
494 specified budget amendment in certain circumstances;
495 requiring the reversion of specified funds to the
496 State Economic Enhancement and Development Trust Fund
497 in certain circumstances; establishing an expiration
498 date for the continuing appropriation category;
499 providing for reversion of specified funds to the
500 State Economic Enhancement and Development Trust Fund
501 in certain circumstances; providing that any balance
502 in the account at the end of the fiscal year remains
503 in the account and is available for carrying out the
504 purposes of the account; providing for the reversion
505 of any interest earnings in the account to the State
506 Economic Enhancement and Development Trust Fund on a
507 specified date of each fiscal year; providing for
508 expiration of the Quick Action Closing Fund Escrow
509 Account and reversion of the funds remaining in the
510 account; authorizing the department to adopt rules;
511 requiring Enterprise Florida, Inc., to transfer any
512 funds held in an escrow account for approved Quick
513 Action Closing Fund contracts or agreements to the
514 Quick Action Closing Fund Escrow Account within the
515 Economic Development Trust Fund by a specified date;
516 amending s. 288.1045, F.S.; conforming provisions to
517 changes made by the act; prohibiting the department
518 from certifying any applicant as a qualified applicant
519 in certain circumstances; amending ss. 288.106,
520 288.107, 288.108, 288.1088, and 288.1201, F.S.;
521 conforming provisions to changes made by the act;
522 providing an effective date.