Bill Text: FL H0143 | 2011 | Regular Session | Engrossed

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Bill Title: Economic Development

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Enrolled - Dead) 2011-05-07 - Ordered engrossed, then enrolled -HJ 1964 [H0143 Detail]

Download: Florida-2011-H0143-Engrossed.html

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CS/HB 143

1	A bill to be entitled
2	An act relating to economic development; amending s.
3	14.2015, F.S.; authorizing the Office of Tourism, Trade,
4	and Economic Development to administer corporate income
5	tax credits for spaceflight projects; amending ss. 72.011
6	and 72.041, F.S.; deleting a reference to conform to
7	changes made by this act; amending s. 216.138, F.S.;
8	providing for special impact estimating conferences to
9	evaluate legislative proposals; requiring conference
10	meetings to be open to the public; specifying the four
11	principals of the conference; authorizing the convening of
12	any special estimating conference by a specified principal
13	in order to adopt certain supplemental information;
14	requiring all official information of a special impact
15	estimating conference to be adopted by consensus;
16	authorizing a principal to invite any person to
17	participate in the conference; providing definitions;
18	amending ss. 220.02 and 220.13, F.S.; revising references
19	to conform to changes made by this act; revising the order
20	in which credits against the corporate income tax or
21	franchise tax may be taken to include credits for certain
22	spaceflight projects and certain research and development;
23	redefining the term "adjusted federal income" to include
24	the amount of certain tax credits taken relating to
25	spaceflight projects and research and development;
26	providing application; prohibiting a deduction from
27	taxable income for any net operating loss if a credit
28	against corporate income taxes relating to a spaceflight
29	project has been taken or transferred; amending s.
30	220.131, F.S.; conforming provisions to changes made by
31	this act; amending s. 220.15, F.S.; conforming provisions
32	to changes made by this act; creating s. 220.153, F.S.;
33	defining the terms "office" and "qualified capital
34	expenditures"; providing for the apportionment of certain
35	taxpayer's adjusted federal income solely by the sales
36	factor provided in s. 220.15, F.S.; providing for
37	eligibility based on the taxpayer's capital expenditures;
38	providing a qualification and application process;
39	authorizing the Department of Revenue to examine and
40	verify that a taxpayer has correctly apportioned its
41	taxes; authorizing the Office of Tourism, Trade, and
42	Economic Development to approve and revoke approval of an
43	application; providing for the recapture of unpaid taxes,
44	interest, and penalties; authorizing the Office of
45	Tourism, Trade, and Economic Development and the
46	Department of Revenue to adopt rules; amending s.
47	220.1845, F.S.; increasing the annual tax credit cap
48	relating to contaminated site rehabilitation; amending s.
49	376.30781, F.S.; conforming references; amending s.
50	220.16, F.S.; requiring that the amount of payments
51	received in exchange for transferring a net operating loss
52	for spaceflight projects be allocated to the state;
53	creating s. 220.194, F.S.; providing a short title;
54	providing legislative purpose; defining terms; authorizing
55	a certified spaceflight business to take or transfer
56	corporate income tax credits related to spaceflight
57	projects carried out in this state; specifying tax credit
58	amounts and business eligibility criteria; providing
59	limitations; requiring a business to demonstrate to the
60	satisfaction of the office and the department its
61	eligibility to claim a tax credit; requiring a business to
62	submit an application to the office for approval to earn
63	credits; specifying the required contents of the
64	application; requiring the office to approve or deny an
65	application within 60 days after receipt; specifying the
66	approval process; requiring a spaceflight business to
67	submit an application for certification to the office;
68	specifying the required contents of an application for
69	certification; specifying the approval process; requiring
70	the office to submit a copy of an approved certification
71	to the department; providing procedures for transferring a
72	tax credit to a taxpayer; authorizing the department to
73	perform audits and investigations necessary to verify the
74	accuracy of returns relating to the tax credit; specifying
75	circumstances under which the office may revoke or modify
76	a certification that grants eligibility for tax credits;
77	requiring a certified spaceflight business to file an
78	amended return and pay any required tax within 60 days
79	after receiving notice that previously approved tax
80	credits have been revoked or modified; authorizing the
81	department to assess additional taxes, interest, or
82	penalties; authorizing the office and the department to
83	adopt rules; requiring the office to submit an annual
84	report to the Governor and Legislature regarding the
85	Florida Space Business Incentives Act; creating s.
86	220.195, F.S.; creating a corporate income tax credit to
87	continue credits available under the emergency excise tax;
88	creating s. 220.196, F.S.; providing application;
89	providing definitions; providing a tax credit for certain
90	research and development expenses; providing eligibility
91	requirements for research and development tax credits;
92	providing limitations regarding eligibility; providing an
93	amount for such credit; providing a maximum amount of
94	credit that may be taken during a taxable year by a
95	business enterprise; providing that any unused credit may
96	be carried forward for a specified period; limiting the
97	total amount of tax credits which may be approved by the
98	department in a calendar year; providing that applications
99	for credits may be filed on or after a specified date;
100	requiring that the credits be granted in the order in
101	which applications are received; requiring the
102	recalculation of a credit under certain circumstances;
103	authorizing the department to adopt rules; amending ss.
104	220.801, 213.05, 213.053, and 213.255, F.S.; deleting
105	references to conform to changes made by this act;
106	authorizing the department to share information with the
107	office relating to single sales factor apportionment used
108	by a taxpayer; authorizing the department to share
109	information relating to corporate income tax credits for
110	spaceflight projects with the office; repealing chapter
111	221, F.S.; repealing the emergency excise tax and related
112	provisions; amending ss. 288.075, 288.1045, and 288.106,
113	F.S.; deleting references to conform to changes made by
114	this act; revising a provision to conform to changes made
115	by this act; amending s. 288.1254, F.S.; revising and
116	providing definitions; revising criteria for awarding tax
117	credits and increasing the amount of credits to be awarded
118	under the entertainment industry financial incentive
119	program; revising the application procedure and approval
120	process; permitting an initial transferee of tax credits
121	to make a one-time transfer of unused tax credits;
122	amending s. 288.1258, F.S.; changing the recordkeeping
123	requirements of the Office of Film and Entertainment;
124	amending s. 290.0055, F.S.; authorizing certain governing
125	bodies to apply to the Office of Tourism, Trade, and
126	Economic Development to amend the boundary of an
127	enterprise zone that includes a rural area of critical
128	economic concern; providing a limitation; providing an
129	application deadline; authorizing the office to approve
130	the amendment application subject to certain requirements;
131	requiring the office to establish the effective date of
132	certain enterprise zones; creating s. 290.00726, F.S.;
133	authorizing Martin County to apply to the Office of
134	Tourism, Trade, and Economic Development for designation
135	of an enterprise zone; providing application requirements;
136	authorizing the office to designate an enterprise zone in
137	Martin County; providing responsibilities of the office;
138	creating s. 290.00727, F.S.; authorizing the City of Palm
139	Bay to apply to the Office of Tourism, Trade, and Economic
140	Development for designation of an enterprise zone;
141	providing application requirements; authorizing the office
142	to designate an enterprise zone in the City of Palm Bay;
143	providing responsibilities of the office; creating s.
144	290.00728, F.S.; authorizing Lake County to apply to the
145	Office of Tourism, Trade, and Economic Development for
146	designation of an enterprise zone; providing application
147	requirements; authorizing the office to designate an
148	enterprise zone in Lake County; providing responsibilities
149	of the office; amending ss. 334.30, 624.509, and
150	624.51055, F.S.; deleting references to conform to changes
151	made by this act; authorizing the executive director of
152	the Department of Revenue to adopt emergency rules;
153	specifying a period during this year when the sale of
154	clothing, wallets, bags, and school supplies are exempt
155	from the sales tax; providing definitions; providing
156	exceptions; authorizing the Department of Revenue to adopt
157	emergency rules; providing an appropriation; creating s.
158	288.987, F.S.; creating the Florida Defense Support Task
159	Force; providing for the task force's mission, membership
160	composition, appointment of membership, and
161	administration; authorizing the expenditure of
162	appropriated funds by the task force for specified
163	purposes; providing appropriations to the Executive Office
164	of the Governor, Office of Tourism, Trade and Economic
165	Development; providing effective dates.
166
167	Be It Enacted by the Legislature of the State of Florida:
168
169	Section 1.  Paragraph (f) of subsection (2) of section
170	14.2015, Florida Statutes, is amended to read:
171	14.2015  Office of Tourism, Trade, and Economic
172	Development; creation; powers and duties.-
173	(2)  The purpose of the Office of Tourism, Trade, and
174	Economic Development is to assist the Governor in working with
175	the Legislature, state agencies, business leaders, and economic
176	development professionals to formulate and implement coherent
177	and consistent policies and strategies designed to provide
178	economic opportunities for all Floridians. To accomplish such
179	purposes, the Office of Tourism, Trade, and Economic Development
180	shall:
181	(f)1.  Administer the Florida Enterprise Zone Act under ss.
182	290.001-290.016, the community contribution tax credit program
183	under ss. 220.183 and 624.5105, the tax refund program for
184	qualified target industry businesses under s. 288.106, the tax-
185	refund program for qualified defense contractors and space
186	flight business contractors under s. 288.1045, contracts for
187	transportation projects under s. 288.063, the sports franchise
188	facility programs under ss. 288.1162 and 288.11621, the
189	professional golf hall of fame facility program under s.
190	288.1168, the expedited permitting process under s. 403.973, the
191	Rural Community Development Revolving Loan Fund under s.
192	288.065, the Regional Rural Development Grants Program under s.
193	288.018, the Certified Capital Company Act under s. 288.99, the
194	Florida State Rural Development Council, the Rural Economic
195	Development Initiative, the corporate income tax credits for
196	spaceflight projects under s. 220.194, and other programs that
197	are specifically assigned to the office by law, by the
198	appropriations process, or by the Governor.
199	1.  Notwithstanding any other provisions of law, the office
200	may expend interest earned from the investment of program funds
201	deposited in the Grants and Donations Trust Fund to contract for
202	the administration of the programs, or portions of the programs,
203	enumerated in this paragraph or assigned to the office by law,
204	by the appropriations process, or by the Governor. Such
205	expenditures are shall be subject to review under chapter 216.
206	2.  The office may enter into contracts in connection with
207	the fulfillment of its duties concerning the Florida First
208	Business Bond Pool under chapter 159, tax incentives under
209	chapters 212 and 220, tax incentives under the Certified Capital
210	Company Act in chapter 288, foreign offices under chapter 288,
211	the Enterprise Zone program under chapter 290, the Seaport
212	Employment Training program under chapter 311, the Florida
213	Professional Sports Team License Plates under chapter 320,
214	Spaceport Florida under chapter 331, Expedited Permitting under
215	chapter 403, and in carrying out other functions that are
216	specifically assigned to the office by law, by the
217	appropriations process, or by the Governor.
218	Section 2.  Effective January 1, 2012, paragraph (a) of
219	subsection (1) of section 72.011, Florida Statutes, is amended
220	to read:
221	72.011  Jurisdiction of circuit courts in specific tax
222	matters; administrative hearings and appeals; time for
223	commencing action; parties; deposits.-
224	(1)(a)  A taxpayer may contest the legality of any
225	assessment or denial of refund of tax, fee, surcharge, permit,
226	interest, or penalty provided for under s. 125.0104, s.
227	125.0108, chapter 198, chapter 199, chapter 201, chapter 202,
228	chapter 203, chapter 206, chapter 207, chapter 210, chapter 211,
229	chapter 212, chapter 213, chapter 220, chapter 221, s.
230	379.362(3), chapter 376, s. 403.717, s. 403.718, s. 403.7185, s.
231	538.09, s. 538.25, chapter 550, chapter 561, chapter 562,
232	chapter 563, chapter 564, chapter 565, chapter 624, or s.
233	681.117 by filing an action in circuit court; or, alternatively,
234	the taxpayer may file a petition under the applicable provisions
235	of chapter 120. However, once an action has been initiated under
236	s. 120.56, s. 120.565, s. 120.569, s. 120.57, or s.
237	120.80(14)(b), no action relating to the same subject matter may
238	be filed by the taxpayer in circuit court, and judicial review
239	shall be exclusively limited to appellate review pursuant to s.
240	120.68; and once an action has been initiated in circuit court,
241	no action may be brought under chapter 120.
242	Section 3.  Effective January 1, 2012, section 72.041,
243	Florida Statutes, is amended to read:
244	72.041  Tax liabilities arising under the laws of other
245	states.-Actions to enforce lawfully imposed sales, use, and
246	corporate income taxes and motor and other fuel taxes of another
247	state may be brought in a court of this state under the
248	following conditions:
249	(1)  The state seeking to institute an action for the
250	collection, assessment, or enforcement of a lawfully imposed tax
251	must have extended a like courtesy to this state;
252	(2)  Venue for any action under this section shall be the
253	circuit court of the county in which the defendant resides;
254	(3)  This section does not apply to the enforcement of tax
255	warrants of another state unless the warrant has been obtained
256	as a result of a judgment entered by a court of competent
257	jurisdiction in the taxing state or unless the courts of the
258	state seeking to enforce its warrant allow the enforcement of
259	the warrants issued by the Department of Revenue pursuant to
260	chapters 206, 212, 213, and 220, and 221; and
261	(4)  All tax liabilities owing to this state or any of its
262	subdivisions shall be paid first and shall be prior in right to
263	any tax liability arising under the laws of other states.
264	Section 4.  Section 216.138, Florida Statutes, is amended
265	to read:
266	216.138  Authority to request additional analysis of
267	legislative proposals legislation.-
268	(1)  The President of the Senate or the Speaker of the
269	House of Representatives may request special impact sessions of
270	consensus estimating conferences to evaluate legislative
271	proposals proposed legislation based on tools and models not
272	generally employed by the consensus estimating conferences,
273	including cost-benefit, return-on-investment, or dynamic scoring
274	techniques, when suitable and appropriate for the legislative
275	proposals legislation being evaluated.
276	(2)  Unless exempt from s. 119.07(1), information used to
277	develop the analyses shall be available to the public. In
278	addition, all meetings of a special impact estimating conference
279	shall be open to the public. The President of the Senate and the
280	Speaker of the House of Representatives, jointly, shall be the
281	sole judge for the interpretation, implementation, and
282	enforcement of this subsection.
283	(3)  A special impact estimating conference shall consist
284	of four principals: one person from the Executive Office of the
285	Governor; the coordinator of the Office of Economic and
286	Demographic Research, or his or her designee; one person from
287	the professional staff of the Senate; and one person from the
288	professional staff of the House of Representatives. Each
289	principal shall have appropriate fiscal expertise in the subject
290	matter of the legislative proposal. A separate special impact
291	estimating conference may be appointed for each proposal.
292	(4)  After the designation of the four principals, a
293	special impact estimating conference shall convene to adopt
294	official information relating to the proposal.
295	(a)  A principal may invite any person to participate in a
296	special impact estimating conference. Such person shall be
297	designated as a participant. A participant shall, at the request
298	of any principal before or during any meeting of a conference,
299	collect and supply data, perform analyses, or provide other
300	information needed by a conference.
301	(b)  The principal from the Office of Economic and
302	Demographic Research may convene any of the conferences
303	established in s. 216.136 to reach a consensus on supplemental
304	information required for the analysis of the proposed
305	legislation.
306	(c)  All official information of a special impact
307	estimating conference shall be adopted by consensus of all of
308	the principals of the conference. For the purposes of this
309	section, the terms "official information" and "consensus" have
310	the same meanings as provided in s. 216.133.
311	Section 5.  Subsection (8) of section 220.02, Florida
312	Statutes, is amended to read:
313	220.02  Legislative intent.-
314	(8)  It is the intent of the Legislature that credits
315	against either the corporate income tax or the franchise tax be
316	applied in the following order: those enumerated in s. 631.828,
317	those enumerated in s. 220.191, those enumerated in s. 220.181,
318	those enumerated in s. 220.183, those enumerated in s. 220.182,
319	those enumerated in s. 220.1895, those enumerated in s. 221.02,
320	those enumerated in s. 220.184, those enumerated in s. 220.186,
321	those enumerated in s. 220.1845, those enumerated in s. 220.19,
322	those enumerated in s. 220.185, those enumerated in s. 220.1875,
323	those enumerated in s. 220.192, those enumerated in s. 220.193,
324	those enumerated in s. 288.9916, those enumerated in s.
325	220.1899, and those enumerated in s. 220.1896, those enumerated
326	in s. 220.194, and those enumerated in s. 220.196.
327	Section 6.  Effective January 1, 2012, subsection (8) of
328	section 220.02, Florida Statutes, as amended by this act, is
329	amended to read:
330	220.02  Legislative intent.-
331	(8)  It is the intent of the Legislature that credits
332	against either the corporate income tax or the franchise tax be
333	applied in the following order: those enumerated in s. 631.828,
334	those enumerated in s. 220.191, those enumerated in s. 220.181,
335	those enumerated in s. 220.183, those enumerated in s. 220.182,
336	those enumerated in s. 220.1895, those enumerated in s. 220.195
337	221.02, those enumerated in s. 220.184, those enumerated in s.
338	220.186, those enumerated in s. 220.1845, those enumerated in s.
339	220.19, those enumerated in s. 220.185, those enumerated in s.
340	220.1875, those enumerated in s. 220.192, those enumerated in s.
341	220.193, those enumerated in s. 288.9916, those enumerated in s.
342	220.1899, those enumerated in s. 220.1896, those enumerated in
343	s. 220.194, and those enumerated in 220.196.
344	Section 7.  Paragraphs (a) and (b) of subsection (1) of
345	section 220.13, Florida Statutes, are amended to read:
346	220.13  "Adjusted federal income" defined.-
347	(1)  The term "adjusted federal income" means an amount
348	equal to the taxpayer's taxable income as defined in subsection
349	(2), or such taxable income of more than one taxpayer as
350	provided in s. 220.131, for the taxable year, adjusted as
351	follows:
352	(a)  Additions.-There shall be added to such taxable
353	income:
354	1.  The amount of any tax upon or measured by income,
355	excluding taxes based on gross receipts or revenues, paid or
356	accrued as a liability to the District of Columbia or any state
357	of the United States which is deductible from gross income in
358	the computation of taxable income for the taxable year.
359	2.  The amount of interest which is excluded from taxable
360	income under s. 103(a) of the Internal Revenue Code or any other
361	federal law, less the associated expenses disallowed in the
362	computation of taxable income under s. 265 of the Internal
363	Revenue Code or any other law, excluding 60 percent of any
364	amounts included in alternative minimum taxable income, as
365	defined in s. 55(b)(2) of the Internal Revenue Code, if the
366	taxpayer pays tax under s. 220.11(3).
367	3.  In the case of a regulated investment company or real
368	estate investment trust, an amount equal to the excess of the
369	net long-term capital gain for the taxable year over the amount
370	of the capital gain dividends attributable to the taxable year.
371	4.  That portion of the wages or salaries paid or incurred
372	for the taxable year which is equal to the amount of the credit
373	allowable for the taxable year under s. 220.181. This
374	subparagraph shall expire on the date specified in s. 290.016
375	for the expiration of the Florida Enterprise Zone Act.
376	5.  That portion of the ad valorem school taxes paid or
377	incurred for the taxable year which is equal to the amount of
378	the credit allowable for the taxable year under s. 220.182. This
379	subparagraph shall expire on the date specified in s. 290.016
380	for the expiration of the Florida Enterprise Zone Act.
381	6.  The amount of emergency excise tax paid or accrued as a
382	liability to this state under chapter 221 which tax is
383	deductible from gross income in the computation of taxable
384	income for the taxable year.
385	7.  That portion of assessments to fund a guaranty
386	association incurred for the taxable year which is equal to the
387	amount of the credit allowable for the taxable year.
388	8.  In the case of a nonprofit corporation which holds a
389	pari-mutuel permit and which is exempt from federal income tax
390	as a farmers' cooperative, an amount equal to the excess of the
391	gross income attributable to the pari-mutuel operations over the
392	attributable expenses for the taxable year.
393	9.  The amount taken as a credit for the taxable year under
394	s. 220.1895.
395	10.  Up to nine percent of the eligible basis of any
396	designated project which is equal to the credit allowable for
397	the taxable year under s. 220.185.
398	11.  The amount taken as a credit for the taxable year
399	under s. 220.1875. The addition in this subparagraph is intended
400	to ensure that the same amount is not allowed for the tax
401	purposes of this state as both a deduction from income and a
402	credit against the tax. This addition is not intended to result
403	in adding the same expense back to income more than once.
404	12.  The amount taken as a credit for the taxable year
405	under s. 220.192.
406	13.  The amount taken as a credit for the taxable year
407	under s. 220.193.
408	14.  Any portion of a qualified investment, as defined in
409	s. 288.9913, which is claimed as a deduction by the taxpayer and
410	taken as a credit against income tax pursuant to s. 288.9916.
411	15.  The costs to acquire a tax credit pursuant to s.
412	288.1254(5) that are deducted from or otherwise reduce federal
413	taxable income for the taxable year.
414	16.  The amount taken as a credit for the taxable year
415	under s. 220.194.
416	17.  The amount taken as a credit for the taxable year
417	under s. 220.196. The addition in this subparagraph is intended
418	to ensure that the same amount is not allowed for the tax
419	purposes of this state as both a deduction from income and a
420	credit against the tax. The addition is not intended to result
421	in adding the same expense back to income more than once.
422	(b)  Subtractions.-
423	1.  There shall be subtracted from such taxable income:
424	a.  The net operating loss deduction allowable for federal
425	income tax purposes under s. 172 of the Internal Revenue Code
426	for the taxable year, except that any net operating loss that is
427	transferred pursuant to s. 220.194(6) may not be deducted by the
428	seller,
429	b.  The net capital loss allowable for federal income tax
430	purposes under s. 1212 of the Internal Revenue Code for the
431	taxable year,
432	c.  The excess charitable contribution deduction allowable
433	for federal income tax purposes under s. 170(d)(2) of the
434	Internal Revenue Code for the taxable year, and
435	d.  The excess contributions deductions allowable for
436	federal income tax purposes under s. 404 of the Internal Revenue
437	Code for the taxable year.
438
439	However, a net operating loss and a capital loss shall never be
440	carried back as a deduction to a prior taxable year, but all
441	deductions attributable to such losses shall be deemed net
442	operating loss carryovers and capital loss carryovers,
443	respectively, and treated in the same manner, to the same
444	extent, and for the same time periods as are prescribed for such
445	carryovers in ss. 172 and 1212, respectively, of the Internal
446	Revenue Code.
447	2.  There shall be subtracted from such taxable income any
448	amount to the extent included therein the following:
449	a.  Dividends treated as received from sources without the
450	United States, as determined under s. 862 of the Internal
451	Revenue Code.
452	b.  All amounts included in taxable income under s. 78 or
453	s. 951 of the Internal Revenue Code.
454
455	However, as to any amount subtracted under this subparagraph,
456	there shall be added to such taxable income all expenses
457	deducted on the taxpayer's return for the taxable year which are
458	attributable, directly or indirectly, to such subtracted amount.
459	Further, no amount shall be subtracted with respect to dividends
460	paid or deemed paid by a Domestic International Sales
461	Corporation.
462	3.  In computing "adjusted federal income" for taxable
463	years beginning after December 31, 1976, there shall be allowed
464	as a deduction the amount of wages and salaries paid or incurred
465	within this state for the taxable year for which no deduction is
466	allowed pursuant to s. 280C(a) of the Internal Revenue Code
467	(relating to credit for employment of certain new employees).
468	4.  There shall be subtracted from such taxable income any
469	amount of nonbusiness income included therein.
470	5.  There shall be subtracted any amount of taxes of
471	foreign countries allowable as credits for taxable years
472	beginning on or after September 1, 1985, under s. 901 of the
473	Internal Revenue Code to any corporation which derived less than
474	20 percent of its gross income or loss for its taxable year
475	ended in 1984 from sources within the United States, as
476	described in s. 861(a)(2)(A) of the Internal Revenue Code, not
477	including credits allowed under ss. 902 and 960 of the Internal
478	Revenue Code, withholding taxes on dividends within the meaning
479	of sub-subparagraph 2.a., and withholding taxes on royalties,
480	interest, technical service fees, and capital gains.
481	6.  Notwithstanding any other provision of this code,
482	except with respect to amounts subtracted pursuant to
483	subparagraphs 1. and 3., any increment of any apportionment
484	factor which is directly related to an increment of gross
485	receipts or income which is deducted, subtracted, or otherwise
486	excluded in determining adjusted federal income shall be
487	excluded from both the numerator and denominator of such
488	apportionment factor. Further, all valuations made for
489	apportionment factor purposes shall be made on a basis
490	consistent with the taxpayer's method of accounting for federal
491	income tax purposes.
492	Section 8.  Effective January 1, 2012, paragraph (a) of
493	subsection (1) of section 220.13, Florida Statutes, as amended
494	by this act, is amended to read:
495	220.13  "Adjusted federal income" defined.-
496	(1)  The term "adjusted federal income" means an amount
497	equal to the taxpayer's taxable income as defined in subsection
498	(2), or such taxable income of more than one taxpayer as
499	provided in s. 220.131, for the taxable year, adjusted as
500	follows:
501	(a)  Additions.-There shall be added to such taxable
502	income:
503	1.  The amount of any tax upon or measured by income,
504	excluding taxes based on gross receipts or revenues, paid or
505	accrued as a liability to the District of Columbia or any state
506	of the United States which is deductible from gross income in
507	the computation of taxable income for the taxable year.
508	2.  The amount of interest which is excluded from taxable
509	income under s. 103(a) of the Internal Revenue Code or any other
510	federal law, less the associated expenses disallowed in the
511	computation of taxable income under s. 265 of the Internal
512	Revenue Code or any other law, excluding 60 percent of any
513	amounts included in alternative minimum taxable income, as
514	defined in s. 55(b)(2) of the Internal Revenue Code, if the
515	taxpayer pays tax under s. 220.11(3).
516	3.  In the case of a regulated investment company or real
517	estate investment trust, an amount equal to the excess of the
518	net long-term capital gain for the taxable year over the amount
519	of the capital gain dividends attributable to the taxable year.
520	4.  That portion of the wages or salaries paid or incurred
521	for the taxable year which is equal to the amount of the credit
522	allowable for the taxable year under s. 220.181. This
523	subparagraph shall expire on the date specified in s. 290.016
524	for the expiration of the Florida Enterprise Zone Act.
525	5.  That portion of the ad valorem school taxes paid or
526	incurred for the taxable year which is equal to the amount of
527	the credit allowable for the taxable year under s. 220.182. This
528	subparagraph shall expire on the date specified in s. 290.016
529	for the expiration of the Florida Enterprise Zone Act.
530	6.  The amount taken as a credit under s. 220.195 of
531	emergency excise tax paid or accrued as a liability to this
532	state under chapter 221 which tax is deductible from gross
533	income in the computation of taxable income for the taxable
534	year.
535	7.  That portion of assessments to fund a guaranty
536	association incurred for the taxable year which is equal to the
537	amount of the credit allowable for the taxable year.
538	8.  In the case of a nonprofit corporation which holds a
539	pari-mutuel permit and which is exempt from federal income tax
540	as a farmers' cooperative, an amount equal to the excess of the
541	gross income attributable to the pari-mutuel operations over the
542	attributable expenses for the taxable year.
543	9.  The amount taken as a credit for the taxable year under
544	s. 220.1895.
545	10.  Up to nine percent of the eligible basis of any
546	designated project which is equal to the credit allowable for
547	the taxable year under s. 220.185.
548	11.  The amount taken as a credit for the taxable year
549	under s. 220.1875. The addition in this subparagraph is intended
550	to ensure that the same amount is not allowed for the tax
551	purposes of this state as both a deduction from income and a
552	credit against the tax. This addition is not intended to result
553	in adding the same expense back to income more than once.
554	12.  The amount taken as a credit for the taxable year
555	under s. 220.192.
556	13.  The amount taken as a credit for the taxable year
557	under s. 220.193.
558	14.  Any portion of a qualified investment, as defined in
559	s. 288.9913, which is claimed as a deduction by the taxpayer and
560	taken as a credit against income tax pursuant to s. 288.9916.
561	15.  The costs to acquire a tax credit pursuant to s.
562	288.1254(5) that are deducted from or otherwise reduce federal
563	taxable income for the taxable year.
564	16.  The amount taken as a credit for the taxable year
565	pursuant to s. 220.194.
566	17.  The amount taken as a credit for the taxable year
567	under s. 220.196. The addition in this subparagraph is intended
568	to ensure that the same amount is not allowed for the tax
569	purposes of this state as both a deduction from income and a
570	credit against the tax. The addition is not intended to result
571	in adding the same expense back to income more than once.
572	Section 9.  Subsection (5) of section 220.131, Florida
573	Statutes, is amended to read:
574	220.131  Adjusted federal income; affiliated groups.-
575	(5)  Each taxpayer shall apportion adjusted federal income
576	under s. 220.15 as a member of an affiliated group which files a
577	consolidated return under this section on the basis of
578	apportionment factors described in s. 220.15. For the purposes
579	of this subsection, each special industry member included in an
580	affiliated group filing a consolidated return hereunder, who
581	which member would otherwise be permitted to use a special
582	method of apportionment under s. 220.151 or s. 220.153, shall
583	construct the numerator of its sales, property, and payroll
584	factors, respectively, by multiplying the denominator of each
585	such factor by the premiums, or revenue miles, or single sales
586	factor ratio otherwise applicable under pursuant to s. 220.151
587	or s. 220.153 in the manner prescribed by the department by
588	rule.
589	Section 10.  Subsection (1) of section 220.15, Florida
590	Statutes, is amended to read:
591	220.15  Apportionment of adjusted federal income.-
592	(1)  Except as provided in ss. 220.151, and 220.152, and
593	220.153, adjusted federal income as defined in s. 220.13 shall
594	be apportioned to this state by taxpayers doing business within
595	and without this state by multiplying it by an apportionment
596	fraction composed of a sales factor representing 50 percent of
597	the fraction, a property factor representing 25 percent of the
598	fraction, and a payroll factor representing 25 percent of the
599	fraction. If any factor described in subsection (2), subsection
600	(4), or subsection (5) has a denominator that is zero or is
601	determined by the department to be insignificant, the relative
602	weights of the other factors in the denominator of the
603	apportionment fraction shall be as follows:
604	(a)  If the denominators for any two factors are zero or
605	are insignificant, the weighted percentage for the remaining
606	factor shall be 100 percent.
607	(b)  If the denominator for the sales factor is zero or is
608	insignificant, the weighted percentage for the property and
609	payroll factors shall change from 25 percent to 50 percent,
610	respectively.
611	(c)  If the denominator for either the property or payroll
612	factor is zero or is insignificant, the weighted percentage for
613	the other shall be 33 1/3 percent, and the weighted percentage
614	for the sales factor shall be 66 2/3 percent.
615	Section 11.  Section 220.153, Florida Statutes, is created
616	to read:
617	220.153  Apportionment by sales factor.-
618	(1)  DEFINITIONS.-As used in this section, the term:
619	(a)  "Office" means the Office of Tourism, Trade, and
620	Economic Development.
621	(b)  "Qualified capital expenditures" means expenditures in
622	this state for purposes substantially related to a business's
623	production or sale of goods or services. The expenditure must
624	fund the acquisition of additional real property (land,
625	buildings, including appurtenances, fixtures and fixed
626	equipment, structures, etc.), including additions, replacements,
627	major repairs, and renovations to real property which materially
628	extend its useful life or materially improve or change its
629	functional use and the furniture and equipment necessary to
630	furnish and operate a new or improved facility. The term
631	"qualified capital expenditures" does not include an expenditure
632	for a passive investment or for an investment intended for the
633	accumulation of reserves or the realization of profit for
634	distribution to any person holding an ownership interest in the
635	business. The term "qualified capital expenditures" does not
636	include expenditures to acquire an existing business or
637	expenditures in excess of $125 million to acquire land or
638	buildings.
639	(2)  APPORTIONMENT OF TAXES; ELIGIBILITY.-A taxpayer, not
640	including a financial organization as defined in s. 220.15(6) or
641	a bank, savings association, international banking facility, or
642	banking organization as defined in s. 220.62, doing business
643	within and without this state, who applies and demonstrates to
644	the office that, within a 2-year period beginning on or after
645	July 1, 2011, it has made qualified capital expenditures equal
646	to or exceeding $250 million may apportion its adjusted federal
647	income solely by the sales factor set forth in s. 220.15(5),
648	commencing in the taxable year that the office approves the
649	application, but not before a taxable year that begins on or
650	after January 1, 2013. Once approved, a taxpayer may elect to
651	apportion its adjusted federal income for any taxable year using
652	the method provided under this section or the method provided
653	under s. 220.15.
654	(3)  QUALIFICATION PROCESS.-
655	(a)  To qualify as a taxpayer who is eligible to apportion
656	its adjusted federal income under this section:
657	1.  The taxpayer must notify the office of its intent to
658	submit an application to apportion its adjusted federal income
659	in order to commence the 2-year period for measuring qualified
660	capital expenditures.
661	2.  The taxpayer must submit an application to apportion
662	its adjusted federal income under this section to the office
663	within 2 years after notifying the office of the taxpayer's
664	intent to qualify. The application must be made under oath and
665	provide such information as the office reasonably requires by
666	rule for determining the applicant's eligibility to apportion
667	adjusted federal income under this section. The taxpayer is
668	responsible for affirmatively demonstrating to the satisfaction
669	of the office that it meets the eligibility requirements.
670	(b)  The taxpayer notice and application forms shall be
671	established by the office by rule. The office shall acknowledge
672	receipt of the notice and approve or deny the application in
673	writing within 45 days after receipt.
674	(4)  REVIEW AUTHORITY; RECAPTURE OF TAX.-
675	(a)  In addition to its existing audit authority, the
676	department may perform any financial and technical review and
677	investigation, including examining the accounts, books, and
678	records of the taxpayer as necessary, to verify that the
679	taxpayer's tax return correctly computes and apportions adjusted
680	federal income and to ensure compliance with this chapter.
681	(b)  The office may, by order, revoke its decision to grant
682	eligibility for apportionment pursuant to this section, and may
683	also order the recalculation of apportionment factors to those
684	applicable under s. 220.15 if, as the result of an audit,
685	investigation, or examination, it determines that information
686	provided by the taxpayer in the application, or in a statement,
687	representation, record, report, plan, or other document provided
688	to the office to become eligible for apportionment, was
689	materially false at the time it was made and that an individual
690	acting on behalf of the taxpayer knew, or should have known,
691	that the information submitted was false. The taxpayer shall pay
692	such additional taxes and interest as may be due pursuant to
693	this chapter computed as the difference between the tax that
694	would have been due under the apportionment formula provided in
695	s. 220.15 for such years and the tax actually paid. In addition,
696	the department shall assess a penalty equal to 100 percent of
697	the additional tax due.
698	(c)  The office shall immediately notify the department of
699	an order affecting a taxpayer's eligibility to apportion tax
700	pursuant to this section. A taxpayer who is liable for past tax
701	must file an amended return with the department, or such other
702	report as the department prescribes by rule, and pay any
703	required tax, interest, and penalty within 60 days after the
704	taxpayer receives notification from the office that the
705	previously approved credits have been revoked. If the revocation
706	is contested, the taxpayer shall file an amended return or other
707	report within 30 days after an order becomes final. A taxpayer
708	who fails to pay the past tax, interest, and penalty by the due
709	date is subject to the penalties provided in s. 220.803.
710	(5)  RULES.-The office and the department may adopt rules
711	to administer this section.
712	Section 12.  Paragraph (f) of subsection (2) of section
713	220.1845, Florida Statutes, is amended to read:
714	220.1845  Contaminated site rehabilitation tax credit.-
715	(2)  AUTHORIZATION FOR TAX CREDIT; LIMITATIONS.-
716	(f)  The total amount of the tax credits which may be
717	granted under this section is $5 $2 million annually.
718	Section 13.  Subsections (4), (5), and (11) of section
719	376.30781, Florida Statutes, are amended to read:
720	376.30781  Tax credits for rehabilitation of drycleaning-
721	solvent-contaminated sites and brownfield sites in designated
722	brownfield areas; application process; rulemaking authority;
723	revocation authority.-
724	(4)  The Department of Environmental Protection is
725	responsible for allocating the tax credits provided for in s.
726	220.1845, which may not exceed a total of $5 $2 million in tax
727	credits annually.
728	(5)  To claim the credit for site rehabilitation or solid
729	waste removal, each tax credit applicant must apply to the
730	Department of Environmental Protection for an allocation of the
731	$5 $2 million annual credit by filing a tax credit application
732	with the Division of Waste Management on a form developed by the
733	Department of Environmental Protection in cooperation with the
734	Department of Revenue. The form shall include an affidavit from
735	each tax credit applicant certifying that all information
736	contained in the application, including all records of costs
737	incurred and claimed in the tax credit application, are true and
738	correct. If the application is submitted pursuant to
739	subparagraph (3)(a)2., the form must include an affidavit signed
740	by the real property owner stating that it is not, and has never
741	been, the owner or operator of the drycleaning facility where
742	the contamination exists. Approval of tax credits must be
743	accomplished on a first-come, first-served basis based upon the
744	date and time complete applications are received by the Division
745	of Waste Management, subject to the limitations of subsection
746	(14). To be eligible for a tax credit, the tax credit applicant
747	must:
748	(a)  For site rehabilitation tax credits, have entered into
749	a voluntary cleanup agreement with the Department of
750	Environmental Protection for a drycleaning-solvent-contaminated
751	site or a Brownfield Site Rehabilitation Agreement, as
752	applicable, and have paid all deductibles pursuant to s.
753	376.3078(3)(e) for eligible drycleaning-solvent-cleanup program
754	sites, as applicable. A site rehabilitation tax credit applicant
755	must submit only a single completed application per site for
756	each calendar year's site rehabilitation costs. A site
757	rehabilitation application must be received by the Division of
758	Waste Management of the Department of Environmental Protection
759	by January 31 of the year after the calendar year for which site
760	rehabilitation costs are being claimed in a tax credit
761	application. All site rehabilitation costs claimed must have
762	been for work conducted between January 1 and December 31 of the
763	year for which the application is being submitted. All payment
764	requests must have been received and all costs must have been
765	paid prior to submittal of the tax credit application, but no
766	later than January 31 of the year after the calendar year for
767	which site rehabilitation costs are being claimed.
768	(b)  For solid waste removal tax credits, have entered into
769	a brownfield site rehabilitation agreement with the Department
770	of Environmental Protection. A solid waste removal tax credit
771	applicant must submit only a single complete application per
772	brownfield site, as defined in the brownfield site
773	rehabilitation agreement, for solid waste removal costs. A solid
774	waste removal tax credit application must be received by the
775	Division of Waste Management of the Department of Environmental
776	Protection subsequent to the completion of the requirements
777	listed in paragraph (3)(e).
778	(11)  If a tax credit applicant does not receive a tax
779	credit allocation due to an exhaustion of the $5 2 million
780	annual tax credit authorization, such application will then be
781	included in the same first-come, first-served order in the next
782	year's annual tax credit allocation, if any, based on the prior
783	year application.
784	Section 14.  Subsection (5) is added to section 220.16,
785	Florida Statutes, to read:
786	220.16  Allocation of nonbusiness income.-Nonbusiness
787	income shall be allocated as follows:
788	(5)  The amount of payments received in exchange for
789	transferring a net operating loss authorized by s. 220.194 is
790	allocable to the state.
791	Section 15.  Section 220.194, Florida Statutes, is created
792	to read:
793	220.194  Corporate income tax credits for spaceflight
794	projects.-
795	(1)  SHORT TITLE.-This section may be cited as the "Florida
796	Space Business Incentives Act."
797	(2)  PURPOSE.-The purpose of this section is to create
798	incentives to attract launch, payload, research and development,
799	and other space business to this state.
800	(3)  DEFINITIONS.-As used in this section, the term:
801	(a)  "Administrative support" means that 51 percent or more
802	of an activity supports a certified spaceflight business.
803	(b)  "Certified" means that a spaceflight business has been
804	certified by the office as meeting all of the requirements
805	necessary to obtain at least one of the approved tax credits
806	available under this section, including approval to transfer a
807	credit.
808	(c)  "New employee" means a state resident who begins or
809	maintains full-time employment in this state with a spaceflight
810	business on or after October 1, 2011. The term does not include
811	a person who is a partner, majority stockholder, or owner of the
812	business or a person who is employed in a temporary construction
813	job or primarily involved with the construction of real
814	property.
815	(d)  "New job" means the full-time employment of an
816	employee in a manner that is consistent with terms used by the
817	Agency for Workforce Innovation and the United States Department
818	of Labor for purposes of unemployment compensation tax
819	administration and employment estimation. In order to meet the
820	requirement for certification specified in paragraph (5)(b), a
821	new job must:
822	1.  Pay new employees at least 115 percent of the statewide
823	or countywide average annual private-sector wage for the 3
824	taxable years immediately preceding filing an application for
825	certification;
826	2.  Require a new employee to perform duties on a regular
827	full-time basis in this state for an average of at least 36
828	hours per week each month for the 3 taxable years immediately
829	preceding filing an application for certification; and
830	3.  Not be held by a person who has previously been
831	included as a new employee on an application for any credit
832	authorized under this section.
833	(e)  "Office" means the Office of Tourism, Trade, and
834	Economic Development.
835	(f)  "Payload" means an object built or assembled in this
836	state to be placed into earth's upper atmospheres or space.
837	(g)  "Reentry" means to return or attempt to return an
838	object from earth's upper atmospheres or space.
839	(h)  "Reentry service" means an activity conducted in this
840	state related to preparing a reentry vehicle and any payload for
841	reentry and the reentry.
842	(i)  "Space vehicle" means any spacecraft, satellite, space
843	station, upper-stage, launch vehicle, reentry vehicle, and
844	related ground-support systems and equipment.
845	(j)  "Spaceflight business" means a business that:
846	1.  Is registered with the Secretary of State to do
847	business in this state; and
848	2.  Is currently engaged in a spaceflight project. A
849	spaceflight business may participate in more than one
850	spaceflight project at a time and may conduct work on a
851	commercial, governmental, or United States defense-related
852	spaceflight project.
853	(k)  "Spaceflight project" means any of the following
854	activities performed in this state:
855	1.  Designing, manufacturing, testing, or assembling a
856	space vehicle or components thereof;
857	2.  Providing a launch service, payload processing service,
858	or reentry service; or
859	3.  Providing the payload for a launch vehicle or reentry
860	space vehicle;
861	4.  Administrative support; or
862	5.  Providing the launch vehicle or the reentry vehicle for
863	space tourists.
864	(l)  "Taxpayer" has the same meaning as provided in s.
865	220.03.
866	(4)  TAX CREDITS.-
867	(a)  If approved and certified pursuant to subsection (5),
868	the following tax credits may be taken on a return for a taxable
869	year beginning on or after October 1, 2015:
870	1.  A certified spaceflight business may take a
871	nontransferable corporate income tax credit for up to 50 percent
872	of the business's tax liability under this chapter for the
873	taxable year in which the credit is taken. The maximum
874	nontransferable tax credit amount that may be approved per
875	taxpayer for a taxable year is $1 million. No more than $3
876	million in total tax credits pursuant to this subparagraph may
877	be certified pursuant to subsection (5). No credit may be
878	approved after October 1, 2017.
879	2.  A certified spaceflight business may transfer, in whole
880	or in part, its Florida net operating loss that would otherwise
881	be available to be taken on a return filed under this chapter,
882	provided that the activity giving rise to such net operating
883	loss must have occurred after July 1, 2011. The transfer allowed
884	under this subparagraph will be in the form of a transferable
885	tax credit equal to the amount of the net operating loss
886	eligible to be transferred. The maximum transferable tax credit
887	amount that may be approved per taxpayer for a taxable year is
888	$2.5 million. No more than $7 million in total tax credits
889	pursuant to this subparagraph may be certified pursuant to
890	subsection (5). No credit may be approved after October 1, 2017.
891	a.  In order to transfer the credit, the business must:
892	(I)  Have been approved to transfer the tax credit for the
893	taxable year in which it is transferred;
894	(II)  Have incurred a qualifying net operating loss on
895	activity in this state after July 1, 2011, directly associated
896	with one or more spaceflight projects in any of its 3 previous
897	taxable years;
898	(III)  Not be 50 percent or more owned or controlled,
899	directly or indirectly, by another corporation that has
900	demonstrated positive net income in any of the 3 previous
901	taxable years of ongoing operations; and
902	(IV)  Not be part of a consolidated group of affiliated
903	corporations, as filed for federal income tax purposes, which in
904	the aggregate demonstrated positive net income in any of the 3
905	previous taxable years.
906	b.  The credit that may be transferred by a certified
907	spaceflight business:
908	(I)  Is limited to the amount of eligible net operating
909	losses incurred in the immediate 3 taxable years before the
910	transfer; and
911	(II)  Must be directly associated with a spaceflight
912	project in this state as verified through an audit or
913	examination by a certified public accountant licensed to do
914	business in this state and as verified by the office.
915	(b)  Each certified spaceflight business may only be
916	approved for a credit under subparagraph (a)1. once and may only
917	be approved to transfer a tax credit under subparagraph (a)2.
918	once, and a certified spaceflight business may not be approved
919	for both in a single state fiscal year.
920	(c)  Credits approved under subparagraph (a)1. may be taken
921	only against the corporate income tax liability generated by or
922	arising out of a spaceflight project in this state, as verified
923	through an audit or examination by a certified public accountant
924	licensed to do business in this state and as verified by the
925	office.
926	(d)  A certified spaceflight business may not file a
927	consolidated return in order to claim the tax incentives
928	described in this subsection.
929	(e)  The certified spaceflight business or transferee must
930	demonstrate to the satisfaction of the office and the department
931	that it is eligible to take the credits approved under this
932	section.
933	(5)  APPLICATION AND CERTIFICATION.-
934	(a)  In order to claim a tax credit under this section, a
935	spaceflight business must first submit an application to the
936	office for approval to earn tax credits or create transferable
937	tax credits. The application must be filed by the date
938	established by the office. In addition to any information that
939	the office may require, the applicant must provide a complete
940	description of the activity in this state which demonstrates to
941	the office the applicant's likelihood to be certified to take or
942	transfer a credit. The applicant must also provide a description
943	of the total amount and type of credits for which approval is
944	sought. The office may consult with Space Florida regarding the
945	qualifications of an applicant. The applicant shall provide an
946	affidavit certifying that all information contained in the
947	application is true and correct.
948	1.  Approval of the credits shall be provided on a first-
949	come, first-served basis, based on the date the completed
950	applications are received by the office. A taxpayer may not
951	submit more than one completed application per state fiscal
952	year. The office may not accept an incomplete placeholder
953	application, and the submission of such an application will not
954	secure a place in the first-come, first-served application line.
955	2.  The office has 60 days after the receipt of a completed
956	application within which to issue a notice of intent to deny or
957	approve an application for credits. The office must ensure that
958	the corporate income tax credits approved for all applicants
959	does not exceed the limits provided in this section.
960	(b)  In order to take a tax credit under subparagraph (a)1.
961	or, if applicable, to transfer an approved credit under
962	subparagraph (a)2., a spaceflight business must submit an
963	application for certification to the office along with a
964	nonrefundable $250 fee.
965	1.  The application must include:
966	a.  The name and physical in-state address of the taxpayer.
967	b.  Documentation demonstrating to the satisfaction of the
968	office that:
969	(I)  The taxpayer is a spaceflight business.
970	(II)  The business has engaged in a qualifying spaceflight
971	project before taking or transferring a credit under this
972	section.
973	c.  In addition to any requirement specific to a credit,
974	documentation that the business has:
975	(I)  Created 35 new jobs in this state directly associated
976	with spaceflight projects during its immediately preceding 3
977	taxable years. The business shall be deemed to have created new
978	jobs if the number of full-time jobs located in this state at
979	the time of application for certification is greater than the
980	total number of full-time jobs located in this state at the time
981	of application for approval to earn credits; and
982	(II)  Invested a total of at least $15 million in this
983	state on a spaceflight project during its immediately preceding
984	3 taxable years.
985	d.  The total amount and types of credits sought.
986	e.  An acknowledgment that a transfer of a tax credit is to
987	be accomplished pursuant to subsection (5).
988	f.  A copy of an audit or audits of the preceding 3 taxable
989	years, prepared by a certified public accountant licensed to
990	practice in this state, which identifies that portion of the
991	business's activities in this state related to spaceflight
992	projects in this state.
993	g.  An acknowledgement that the business must file an
994	annual report on the spaceflight project's progress with the
995	office.
996	h.  Any other information necessary to demonstrate that the
997	applicant meets the job creation, investment, and other
998	requirements of this section.
999	2.  Within 60 days after receipt of the application for
1000	certification, the office shall evaluate the application and
1001	recommend the business for certification or denial. The
1002	executive director of the office must approve or deny the
1003	application within 30 days after receiving the recommendation.
1004	If approved, the office must provide a letter of certification
1005	to the applicant consistent with any restrictions imposed. If
1006	the office denies any part of the requested credit, the office
1007	must inform the applicant of the grounds for the denial. A copy
1008	of the certification shall be submitted to the department within
1009	10 days after the executive director's approval.
1010	(6)  TRANSFERABILITY OF CREDIT.-
1011	(a)  A certified spaceflight business allowed to transfer
1012	an approved credit, in whole or in part, to a taxpayer by
1013	written agreement may do so without transferring any ownership
1014	interest in the property generating the credit or any interest
1015	in the entity owning such property.
1016	(b)  In order to perfect the transfer, the transferor shall
1017	provide the department with a written transfer statement that
1018	has been approved by the office notifying the department of the
1019	transferor's intent to transfer the tax credits to the
1020	transferee; the date that the transfer is effective; the
1021	transferee's name, address, and federal taxpayer identification
1022	number; the tax period; and the amount of tax credits to be
1023	transferred. Upon receipt of the approved transfer statement,
1024	the department shall provide the transferee and the office with
1025	a certificate reflecting the tax credit amounts transferred. A
1026	copy of the certificate must be attached to each tax return for
1027	which the transferee seeks to apply the credits.
1028	(7)  AUDIT AUTHORITY; RECAPTURE OF CREDITS.-
1029	(a)  In addition to its existing audit and investigative
1030	authority, the department may perform any additional financial
1031	and technical audits and investigations, including examining the
1032	accounts, books, and financial records of the tax credit
1033	applicant, which are necessary for verifying the accuracy of the
1034	return and to ensure compliance with this section. If requested
1035	by the department, the office and Space Florida must provide
1036	technical assistance for any technical audits or examinations
1037	performed under this subsection.
1038	(b)  Grounds for forfeiture of previously claimed tax
1039	credits approved under this section exist if the department
1040	determines, as a result of an audit or examination, or from
1041	information received from the office, that a certified
1042	spaceflight business, or in the case of transferred tax credits,
1043	a taxpayer received tax credits for which the certified
1044	spaceflight business or taxpayer was not entitled. The
1045	spaceflight business or transferee must file an amended return
1046	reflecting the disallowed credits and paying any tax due as a
1047	result of the amendment.
1048	(c)  If an amendment to, recomputation of, or
1049	redetermination of a certified spaceflight business's Florida
1050	corporate income tax return changes an item entered into the
1051	computation of a claimed credit, the taxpayer must notify the
1052	department by filing an amended return. The amount of any credit
1053	award not supported by the amended return shall be deemed a
1054	deficiency that must be remitted with the amended return and is
1055	subject to s. 220.23. The spaceflight business is also liable
1056	for a penalty equal to the credit claimed or transferred,
1057	reduced in proportion to the amount of the net operating loss
1058	certified for transfer which is disallowed over the amount of
1059	the net operating loss certified for the credit. The certified
1060	business and its successors must maintain all records necessary
1061	to support the reported net operating loss.
1062	(d)  The office may revoke or modify a certification
1063	granting eligibility for tax credits if it finds that the
1064	certified spaceflight business made a false statement or
1065	representation in any application, record, report, plan, or
1066	other document filed in an attempt to receive tax credits under
1067	this section. The office shall immediately notify the department
1068	of any revoked or modified orders affecting previously granted
1069	tax credits. The certified spaceflight business must also notify
1070	the department of any change in its claimed tax credit.
1071	(e)  The certified spaceflight business must file with the
1072	department an amended return or other report required by the
1073	department by rule and pay any required tax and interest within
1074	60 days after the certified business receives notification from
1075	the office that previously approved tax credits have been
1076	revoked or modified. If the revocation or modification order is
1077	contested, the spaceflight business must file the amended return
1078	or other report within 60 days after a final order is issued.
1079	(f)  The department may assess an additional tax, penalty,
1080	or interest pursuant to s. 95.091.
1081	(8)  RULES.-
1082	(a)  The office, in consultation with Space Florida, shall
1083	adopt rules to administer this section, including rules relating
1084	to application forms for credit approval and certification, and
1085	the application and certification procedures, guidelines, and
1086	requirements necessary to administer this section.
1087	(b)  The department may adopt rules to administer this
1088	section, including rules relating to:
1089	1.  The forms required to claim a tax credit under this
1090	section, the requirements and basis for establishing an
1091	entitlement to a credit, and the examination and audit
1092	procedures required to administer this section.
1093	2.  The implementation and administration of provisions
1094	allowing the transfer of a net operating loss as a tax credit,
1095	including rules that prescribe forms, reporting requirements,
1096	and specific procedures, guidelines, and requirements necessary
1097	to perform the transfer.
1098	3.  The minimum portion of the credit which is available
1099	for transfer.
1100	(9)  ANNUAL REPORT.-Beginning in 2014, the office, in
1101	cooperation with Space Florida and the department, shall submit
1102	an annual report summarizing activities relating to the Florida
1103	Space Business Incentives Act established under this section to
1104	the Governor, the President of the Senate, and the Speaker of
1105	the House of Representatives by each November 30.
1106	(10)  NONAPPLICABILITY.-This section does not apply to
1107	returns filed for any tax period before October 1, 2015.
1108	Section 16.  Effective January 1, 2012, section 220.195,
1109	Florida Statutes, is created to read:
1110	220.195  Emergency excise tax credit.-
1111	(1)  Beginning with taxable years ending in 2012, a
1112	taxpayer who has earned, but not yet taken, a credit for
1113	emergency excise tax paid under former s. 221.02 may take such
1114	credit against the tax imposed by this chapter.
1115	(2)  If a credit granted pursuant to this section is not
1116	fully used in taxable years ending in 2012 because of
1117	insufficient tax liability on the part of the taxpayer, the
1118	unused amount may be carried forward for a period not to exceed
1119	5 years. The carryover credit may be used in a subsequent year
1120	when the tax imposed by this chapter for such year exceeds the
1121	credit for such year, after applying the other credits and
1122	unused credit carryovers in the order provided in s. 220.02(8).
1123	Section 17.  Effective July 1, 2011, and applicable to
1124	taxable years beginning on or after January 1, 2012, section
1125	220.196, Florida Statutes, is created to read:
1126	220.196  Research and development tax credit.-
1127	(1)  DEFINITIONS.-As used in this section, the term:
1128	(a)  "Base amount" means the average of the business
1129	enterprise's qualified research expenses in this state allowed
1130	under 26 U.S.C. s. 41 for the 4 taxable years preceding the
1131	taxable year for which the credit is determined. The qualified
1132	research expenses taken into account in computing the base
1133	amount shall be determined on a basis consistent with the
1134	determination of qualified research expenses for the taxable
1135	year.
1136	(b)  "Business enterprise" means any corporation as defined
1137	in s. 220.03 which meets the definition of a target industry
1138	business as defined in s. 288.106.
1139	(c)  "Qualified research expenses" mean research expenses
1140	qualifying for the credit under 26 U.S.C. s. 41 for in-house
1141	research expenses incurred in this state or contract research
1142	expenses incurred in this state. The term does not include
1143	research conducted outside this state or research expenses that
1144	do not qualify for a credit under 26 U.S.C. s. 41.
1145	(2)  TAX CREDIT.-Subject to the limitations contained in
1146	paragraph (e), a business enterprise is eligible for a credit
1147	against the tax imposed by this chapter if the business
1148	enterprise has qualified research expenses in this state in the
1149	taxable year exceeding the base amount and, for the same taxable
1150	year, claims and is allowed a research credit for such qualified
1151	research expenses under 26 U.S.C. s. 41.
1152	(a)  The tax credit shall be 10 percent of the excess
1153	qualified research expenses over the base amount. However, the
1154	maximum tax credit for a business enterprise that has not been
1155	in existence for at least 4 taxable years immediately preceding
1156	the taxable year is reduced by 25 percent for each taxable year
1157	for which the business enterprise, or a predecessor corporation
1158	that was a business enterprise, did not exist.
1159	(b)  The credit taken in any taxable year may not exceed 50
1160	percent of the business enterprise's remaining net income tax
1161	liability under this chapter after all other credits have been
1162	applied under s. 220.02(8).
1163	(c)  Any unused credit authorized under this section may be
1164	carried forward and claimed by the taxpayer for up to 5 years.
1165	(d)  The combined total amount of tax credits which may be
1166	granted to all business enterprises under this section during
1167	any calendar year is $9 million. Applications may be filed with
1168	the department on or after March 20 for qualified research
1169	expenses incurred within the preceding calendar year, and
1170	credits shall be granted in the order in which completed
1171	applications are received.
1172	(3)  RECALCULATION OF CREDIT AMOUNT.-If the amount of
1173	qualified research expenses is reduced as a result of a federal
1174	audit or examination, the credit granted pursuant to this
1175	section must be recalculated. The taxpayer must file amended
1176	returns for all affected years pursuant to s. 220.23(2), and the
1177	taxpayer must pay to the department the difference between the
1178	initial credit amount taken and the recalculated credit amount
1179	with interest.
1180	(4)  RULES.-The department may adopt rules to administer
1181	this section, including, but not limited to, rules prescribing
1182	forms and application procedures and dates, and may establish
1183	guidelines for making an affirmative showing of qualification
1184	for a credit and any evidence needed to substantiate a claim for
1185	credit under this section.
1186	Section 18.  Effective January 1, 2012, subsection (4) of
1187	section 220.801, Florida Statutes, is amended to read:
1188	220.801  Penalties; failure to timely file returns.-
1189	(4)  The provisions of this section shall specifically
1190	apply to the notice of federal change required under s. 220.23,
1191	and to any tax returns required under chapter 221, relating to
1192	the emergency excise tax.
1193	Section 19.  Effective January 1, 2012, section 213.05,
1194	Florida Statutes, is amended to read:
1195	213.05  Department of Revenue; control and administration
1196	of revenue laws.-The Department of Revenue shall have only those
1197	responsibilities for ad valorem taxation specified to the
1198	department in chapter 192, taxation, general provisions; chapter
1199	193, assessments; chapter 194, administrative and judicial
1200	review of property taxes; chapter 195, property assessment
1201	administration and finance; chapter 196, exemption; chapter 197,
1202	tax collections, sales, and liens; chapter 199, intangible
1203	personal property taxes; and chapter 200, determination of
1204	millage. The Department of Revenue shall have the responsibility
1205	of regulating, controlling, and administering all revenue laws
1206	and performing all duties as provided in s. 125.0104, the Local
1207	Option Tourist Development Act; s. 125.0108, tourist impact tax;
1208	chapter 198, estate taxes; chapter 201, excise tax on documents;
1209	chapter 202, communications services tax; chapter 203, gross
1210	receipts taxes; chapter 206, motor and other fuel taxes; chapter
1211	211, tax on production of oil and gas and severance of solid
1212	minerals; chapter 212, tax on sales, use, and other
1213	transactions; chapter 220, income tax code; chapter 221,
1214	emergency excise tax; ss. 336.021 and 336.025, taxes on motor
1215	fuel and special fuel; s. 376.11, pollutant spill prevention and
1216	control; s. 403.718, waste tire fees; s. 403.7185, lead-acid
1217	battery fees; s. 538.09, registration of secondhand dealers; s.
1218	538.25, registration of secondary metals recyclers; s. 624.4621,
1219	group self-insurer's fund premium tax; s. 624.5091, retaliatory
1220	tax; s. 624.475, commercial self-insurance fund premium tax; ss.
1221	624.509-624.511, insurance code: administration and general
1222	provisions; s. 624.515, State Fire Marshal regulatory
1223	assessment; s. 627.357, medical malpractice self-insurance
1224	premium tax; s. 629.5011, reciprocal insurers premium tax; and
1225	s. 681.117, motor vehicle warranty enforcement.
1226	Section 20.  Paragraph (dd) is added to subsection (8) of
1227	section 213.053, Florida Statutes, as amended by chapter 2010-
1228	280, Laws of Florida, and effective January 1, 2012, subsection
1229	(1) and paragraph (k) of subsection (8) of that section are
1230	amended, to read:
1231	213.053  Confidentiality and information sharing.-
1232	(1)  This section applies to:
1233	(a)  Section 125.0104, county government;
1234	(b)  Section 125.0108, tourist impact tax;
1235	(c)  Chapter 175, municipal firefighters' pension trust
1236	funds;
1237	(d)  Chapter 185, municipal police officers' retirement
1238	trust funds;
1239	(e)  Chapter 198, estate taxes;
1240	(f)  Chapter 199, intangible personal property taxes;
1241	(g)  Chapter 201, excise tax on documents;
1242	(h)  Chapter 202, the Communications Services Tax
1243	Simplification Law;
1244	(i)  Chapter 203, gross receipts taxes;
1245	(j)  Chapter 211, tax on severance and production of
1246	minerals;
1247	(k)  Chapter 212, tax on sales, use, and other
1248	transactions;
1249	(l)  Chapter 220, income tax code;
1250	(m)  Chapter 221, emergency excise tax;
1251	(m)(n)  Section 252.372, emergency management,
1252	preparedness, and assistance surcharge;
1253	(n)(o)  Section 379.362(3), Apalachicola Bay oyster
1254	surcharge;
1255	(o)(p)  Chapter 376, pollutant spill prevention and
1256	control;
1257	(p)(q)  Section 403.718, waste tire fees;
1258	(q)(r)  Section 403.7185, lead-acid battery fees;
1259	(r)(s)  Section 538.09, registration of secondhand dealers;
1260	(s)(t)  Section 538.25, registration of secondary metals
1261	recyclers;
1262	(t)(u)  Sections 624.501 and 624.509-624.515, insurance
1263	code;
1264	(u)(v)  Section 681.117, motor vehicle warranty
1265	enforcement; and
1266	(v)(w)  Section 896.102, reports of financial transactions
1267	in trade or business.
1268	(8)  Notwithstanding any other provision of this section,
1269	the department may provide:
1270	(k)1.  Payment information relative to chapters 199, 201,
1271	202, 212, 220, 221, and 624 and former chapter 221 to the Office
1272	of Tourism, Trade, and Economic Development, or its employees or
1273	agents that are identified in writing by the office to the
1274	department, in the administration of the tax refund program for
1275	qualified defense contractors and space flight business
1276	contractors authorized by s. 288.1045 and the tax refund program
1277	for qualified target industry businesses authorized by s.
1278	288.106.
1279	2.  Information relative to tax credits taken by a business
1280	under s. 220.191 and exemptions or tax refunds received by a
1281	business under s. 212.08(5)(j) to the Office of Tourism, Trade,
1282	and Economic Development, or its employees or agents that are
1283	identified in writing by the office to the department, in the
1284	administration and evaluation of the capital investment tax
1285	credit program authorized in s. 220.191 and the semiconductor,
1286	defense, and space tax exemption program authorized in s.
1287	212.08(5)(j).
1288	3.  Information relative to tax credits taken by a taxpayer
1289	pursuant to the tax credit programs created in ss. 193.017;
1290	212.08(5)(g),(h),(n),(o) and (p); 212.08(15); 212.096; 212.097;
1291	212.098; 220.181; 220.182; 220.183; 220.184; 220.1845; 220.185;
1292	220.1895; 220.19; 220.191; 220.192; 220.193; 288.0656; 288.99;
1293	290.007; 376.30781; 420.5093; 420.5099; 550.0951; 550.26352;
1294	550.2704; 601.155; 624.509; 624.510; 624.5105; and 624.5107 to
1295	the Office of Tourism, Trade, and Economic Development, or its
1296	employees or agents that are identified in writing by the office
1297	to the department, for use in the administration or evaluation
1298	of such programs.
1299	4.  Information relative to single sales factor
1300	apportionment used by a taxpayer to the Office of Tourism,
1301	Trade, and Economic Development or its employees or agents who
1302	are identified in writing by the office to the department for
1303	use by the office to administer s. 220.153.
1304	(dd)  Information relating to tax credits taken under s.
1305	220.194 to the Office of Tourism, Trade, and Economic
1306	Development or to Space Florida.
1307
1308	Disclosure of information under this subsection shall be
1309	pursuant to a written agreement between the executive director
1310	and the agency. Such agencies, governmental or nongovernmental,
1311	shall be bound by the same requirements of confidentiality as
1312	the Department of Revenue. Breach of confidentiality is a
1313	misdemeanor of the first degree, punishable as provided by s.
1314	775.082 or s. 775.083.
1315	Section 21.  Effective January 1, 2012, subsection (12) of
1316	section 213.255, Florida Statutes, is amended to read:
1317	213.255  Interest.-Interest shall be paid on overpayments
1318	of taxes, payment of taxes not due, or taxes paid in error,
1319	subject to the following conditions:
1320	(12)  The rate of interest shall be the adjusted rate
1321	established pursuant to s. 213.235, except that the annual rate
1322	of interest shall never be greater than 11 percent. This annual
1323	rate of interest shall be applied to all refunds of taxes
1324	administered by the department except for corporate income taxes
1325	and emergency excise taxes governed by ss. 220.721 and 220.723.
1326	Section 22.  Effective January 1, 2012, chapter 221,
1327	Florida Statutes, consisting of sections 221.01, 221.02, 221.04,
1328	and 221.05, is repealed.
1329	Section 23.  Effective January 1, 2012, paragraph (a) of
1330	subsection (6) of section 288.075, Florida Statutes, is amended
1331	to read:
1332	288.075  Confidentiality of records.-
1333	(6)  ECONOMIC INCENTIVE PROGRAMS.-
1334	(a)  The following information held by an economic
1335	development agency pursuant to the administration of an economic
1336	incentive program for qualified businesses is confidential and
1337	exempt from s. 119.07(1) and s. 24(a), Art. I of the State
1338	Constitution for a period not to exceed the duration of the
1339	incentive agreement, including an agreement authorizing a tax
1340	refund or tax credit, or upon termination of the incentive
1341	agreement:
1342	1.  The percentage of the business's sales occurring
1343	outside this state and, for businesses applying under s.
1344	288.1045, the percentage of the business's gross receipts
1345	derived from Department of Defense contracts during the 5 years
1346	immediately preceding the date the business's application is
1347	submitted.
1348	2.  The anticipated wages for the project jobs that the
1349	business plans to create, as reported on the application for
1350	certification.
1351	3.  The average wage actually paid by the business for
1352	those jobs created by the project or an employee's personal
1353	identifying information which is held as evidence of the
1354	achievement or nonachievement of the wage requirements of the
1355	tax refund, tax credit, or incentive agreement programs or of
1356	the job creation requirements of such programs.
1357	4.  The amount of:
1358	a.  Taxes on sales, use, and other transactions paid
1359	pursuant to chapter 212;
1360	b.  Corporate income taxes paid pursuant to chapter 220;
1361	c.  Intangible personal property taxes paid pursuant to
1362	chapter 199;
1363	d.  Emergency excise taxes paid pursuant to chapter 221;
1364	d.e.  Insurance premium taxes paid pursuant to chapter 624;
1365	e.f.  Excise taxes paid on documents pursuant to chapter
1366	201;
1367	f.g.  Ad valorem taxes paid, as defined in s. 220.03(1); or
1368	g.h.  State communications services taxes paid pursuant to
1369	chapter 202.
1370	Section 24.  Paragraph (c) of subsection (2) of section
1371	288.1045, Florida Statutes, and effective January 1, 2012,
1372	paragraph (f) of that subsection, are amended to read:
1373	288.1045  Qualified defense contractor and space flight
1374	business tax refund program.-
1375	(2)  GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.-
1376	(c)  A qualified applicant may not receive more than $7 $5
1377	million in tax refunds pursuant to this section in all fiscal
1378	years.
1379	(f)  After entering into a tax refund agreement pursuant to
1380	subsection (4), a qualified applicant may:
1381	1.  Receive refunds from the account for corporate income
1382	taxes due and paid pursuant to chapter 220 by that business
1383	beginning with the first taxable year of the business which
1384	begins after entering into the agreement.
1385	2.  Receive refunds from the account for the following
1386	taxes due and paid by that business after entering into the
1387	agreement:
1388	a.  Taxes on sales, use, and other transactions paid
1389	pursuant to chapter 212.
1390	b.  Intangible personal property taxes paid pursuant to
1391	chapter 199.
1392	c.  Emergency excise taxes paid pursuant to chapter 221.
1393	c.d.  Excise taxes paid on documents pursuant to chapter
1394	201.
1395	d.e.  Ad valorem taxes paid, as defined in s. 220.03(1)(a)
1396	on June 1, 1996.
1397	e.f.  State communications services taxes administered
1398	under chapter 202. This provision does not apply to the gross
1399	receipts tax imposed under chapter 203 and administered under
1400	chapter 202 or the local communications services tax authorized
1401	under s. 202.19.
1402
1403	However, a qualified applicant may not receive a tax refund
1404	pursuant to this section for any amount of credit, refund, or
1405	exemption granted such contractor for any of such taxes. If a
1406	refund for such taxes is provided by the office, which taxes are
1407	subsequently adjusted by the application of any credit, refund,
1408	or exemption granted to the qualified applicant other than that
1409	provided in this section, the qualified applicant shall
1410	reimburse the Economic Development Trust Fund for the amount of
1411	such credit, refund, or exemption. A qualified applicant must
1412	notify and tender payment to the office within 20 days after
1413	receiving a credit, refund, or exemption, other than that
1414	provided in this section. The addition of communications
1415	services taxes administered under chapter 202 is remedial in
1416	nature and retroactive to October 1, 2001. The office may make
1417	supplemental tax refund payments to allow for tax refunds for
1418	communications services taxes paid by an eligible qualified
1419	defense contractor after October 1, 2001.
1420	Section 25.  Paragraph (c) of subsection (3) of section
1421	288.106, Florida Statutes, and effective January 1, 2012,
1422	paragraph (d) of that subsection, are amended to read:
1423	288.106  Tax refund program for qualified target industry
1424	businesses.-
1425	(3)  TAX REFUND; ELIGIBLE AMOUNTS.-
1426	(c)  A qualified target industry business may not receive
1427	refund payments of more than 25 percent of the total tax refunds
1428	specified in the tax refund agreement under subparagraph
1429	(5)(a)1. in any fiscal year. Further, a qualified target
1430	industry business may not receive more than $1.5 million in
1431	refunds under this section in any single fiscal year, or more
1432	than $2.5 million in any single fiscal year if the project is
1433	located in an enterprise zone. A qualified target industry
1434	business may not receive more than $7 $5 million in refund
1435	payments under this section in all fiscal years, or more than
1436	$7.5 million if the project is located in an enterprise zone.
1437	(d)  After entering into a tax refund agreement under
1438	subsection (5), a qualified target industry business may:
1439	1.  Receive refunds from the account for the following
1440	taxes due and paid by that business beginning with the first
1441	taxable year of the business that begins after entering into the
1442	agreement:
1443	a.  Corporate income taxes under chapter 220.
1444	b.  Insurance premium tax under s. 624.509.
1445	2.  Receive refunds from the account for the following
1446	taxes due and paid by that business after entering into the
1447	agreement:
1448	a.  Taxes on sales, use, and other transactions under
1449	chapter 212.
1450	b.  Intangible personal property taxes under chapter 199.
1451	c.  Emergency excise taxes under chapter 221.
1452	c.d.  Excise taxes on documents under chapter 201.
1453	d.e.  Ad valorem taxes paid, as defined in s. 220.03(1).
1454	e.f.  State communications services taxes administered
1455	under chapter 202. This provision does not apply to the gross
1456	receipts tax imposed under chapter 203 and administered under
1457	chapter 202 or the local communications services tax authorized
1458	under s. 202.19.
1459	Section 26.  Paragraphs (b), (h), and (i) of subsection
1460	(1), paragraphs (c) and (e) of subsection (3), paragraph (b) of
1461	subsection (4), paragraph (c) of subsection (5), paragraph (a)
1462	of subsection (7), and subsection (10) of section 288.1254,
1463	Florida Statutes, are amended, and paragraphs (k), (l), (m),
1464	(n), and (o) are added to subsection (1) of that section, to
1465	read:
1466	288.1254  Entertainment industry financial incentive
1467	program.-
1468	(1)  DEFINITIONS.-As used in this section, the term:
1469	(b)  "Digital media project" means a production of
1470	interactive entertainment that is produced for distribution in
1471	commercial or educational markets. The term includes a video
1472	game or production intended for Internet or wireless
1473	distribution. The term does not include a production that
1474	contains deemed by the Office of Film and Entertainment to
1475	contain obscene content as defined in s. 847.001(10).
1476	(f)  "Production" means a theatrical or direct-to-video
1477	motion picture; a made-for-television motion picture; visual
1478	effects or digital animation sequences produced in conjunction
1479	with a motion picture; a commercial; a music video; an
1480	industrial or educational film; an infomercial; a documentary
1481	film; a television pilot program; a presentation for a
1482	television pilot program; a television series, including, but
1483	not limited to, a drama, a reality show, a comedy, a soap opera,
1484	a telenovela, a game show, an awards show, or a miniseries
1485	production; or a digital media project by the entertainment
1486	industry. One season of a television series is considered one
1487	production. The term does not include a weather or market
1488	program; a sporting event; a sports show; a gala; a production
1489	that solicits funds; a home shopping program; a political
1490	program; a political documentary; political advertising; a
1491	gambling-related project or production; a concert production; or
1492	a local, regional, or Internet-distributed-only news show,
1493	current-events show, pornographic production, or current-affairs
1494	show. A production may be produced on or by film, tape, or
1495	otherwise by means of a motion picture camera; electronic camera
1496	or device; tape device; computer; any combination of the
1497	foregoing; or any other means, method, or device.
1498	(h)  "Qualified expenditures" means production expenditures
1499	incurred in this state by a qualified production for:
1500	1.  Goods purchased or leased from, or services, including,
1501	but not limited to, insurance costs and bonding, payroll
1502	services, and legal fees, which are provided by, a vendor or
1503	supplier in this state that is registered with the Department of
1504	State or the Department of Revenue, has a physical location in
1505	this state, and employs one or more legal residents of this
1506	state. This does not include re-billed goods or services
1507	provided by an in-state company from out-of-state vendors or
1508	suppliers. When services are provided by the vendor or supplier
1509	include personal services or labor, only personal services or
1510	labor provided by residents of this state, evidenced by the
1511	required documentation of residency in this state, qualify.
1512	2.  Payments to legal residents of this state in the form
1513	of salary, wages, or other compensation up to a maximum of
1514	$400,000 per resident unless otherwise specified in subsection
1515	(4). A completed declaration of residency in this state must
1516	accompany the documentation submitted to the office for
1517	reimbursement.
1518
1519	For a qualified production involving an event, such as an awards
1520	show, the term does not include expenditures solely associated
1521	with the event itself and not directly required by the
1522	production. The term does not include expenditures incurred
1523	before certification, with the exception of those incurred for a
1524	commercial, a music video, or the pickup of additional episodes
1525	of a high-impact television series within a single season. Under
1526	no circumstances may the qualified production include in the
1527	calculation for qualified expenditures the original purchase
1528	price for equipment or other tangible property that is later
1529	sold or transferred by the qualified production for
1530	consideration. In such cases, the qualified expenditure is the
1531	net of the original purchase price minus the consideration
1532	received upon sale or transfer.
1533	(i)  "Qualified production" means a production in this
1534	state meeting the requirements of this section. The term does
1535	not include a production:
1536	1.  In which, for the first 2 years of the incentive
1537	program, less than 50 percent, and thereafter, less than 60
1538	percent, of the positions that make up its production cast and
1539	below-the-line production crew, or, in the case of digital media
1540	projects, less than 75 percent of such positions, are filled by
1541	legal residents of this state, whose residency is demonstrated
1542	by a valid Florida driver's license or other state-issued
1543	identification confirming residency, or students enrolled full-
1544	time in a film-and-entertainment-related course of study at an
1545	institution of higher education in this state; or
1546	2.  That contains is deemed by the Office of Film and
1547	Entertainment to contain obscene content as defined in s.
1548	847.001(10).
1549	(k)  "Qualified digital media production facility" means a
1550	building or series of buildings and their improvements in which
1551	data processing, visualization, and sound synchronization
1552	technologies are regularly applied for the production of
1553	qualified digital media projects or the digital animation
1554	components of qualified productions.
1555	(l)  "Qualified production facility" means a building or
1556	complex of buildings and their improvements and associated
1557	backlot facilities in which regular filming activity for film or
1558	television has occurred for a period of no less than one year
1559	and which contain at least one sound stage of at least 7,800
1560	square feet.
1561	(m)  "Regional population ratio" means the ratio of the
1562	population of a region to the population of this state. The
1563	regional population ratio applicable to a given fiscal year is
1564	the regional population ratio calculated by the Office of Film
1565	and Entertainment using the latest official estimates of
1566	population certified under s. 186.901, available on the first
1567	day of that fiscal year.
1568	(n)  "Regional tax credit ratio" means a ratio the
1569	numerator of which is the sum of tax credits awarded to
1570	productions in a region to date plus the tax credits certified,
1571	but not yet awarded, to productions currently in that region and
1572	the denominator of which is the sum of all tax credits awarded
1573	in the state to date plus all tax credits certified, but not yet
1574	awarded, to productions currently in the state. The regional tax
1575	credit ratio applicable to a given year is the regional tax
1576	credit ratio calculated by the Office of Film and Entertainment
1577	using credit award and certification information available on
1578	the first day of that fiscal year.
1579	(o)  "Underutilized region" for a given state fiscal year
1580	means a region with a regional tax credit ratio applicable to
1581	that fiscal year that is lower than its regional population
1582	ratio applicable to that fiscal year. The following regions are
1583	established for purposes of making this determination:
1584	1.  North Region, consisting of Alachua, Baker, Bay,
1585	Bradford, Calhoun, Clay, Columbia, Dixie, Duval, Escambia,
1586	Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Holmes, Jackson,
1587	Jefferson, Lafayette, Leon, Levy, Liberty, Madison, Nassau,
1588	Okaloosa, Putnam, Santa Rosa, St. Johns, Suwannee, Taylor,
1589	Union, Wakulla, Walton, and Washington counties.
1590	2.  Central East Region, consisting of Brevard, Flagler,
1591	Indian River, Lake, Okeechobee, Orange, Osceola, Seminole, St.
1592	Lucie, and Volusia counties.
1593	3.  Central West Region, consisting of Citrus, Hernando,
1594	Hillsborough, Manatee, Marion, Polk, Pasco, Pinellas, Sarasota,
1595	and Sumter counties.
1596	4.  Southwest Region, consisting of Charlotte, Collier,
1597	DeSoto, Glades, Hardee, Hendry, Highlands, and Lee counties.
1598	5.  Southeast Region, consisting of Broward, Martin, Miami-
1599	Dade, Monroe, and Palm Beach counties.
1600	(3)  APPLICATION PROCEDURE; APPROVAL PROCESS.-
1601	(c)  Application process.-The Office of Film and
1602	Entertainment shall establish a process by which an application
1603	is accepted and reviewed and by which tax credit eligibility and
1604	award amount are determined. The Office of Film and
1605	Entertainment may request assistance from a duly appointed local
1606	film commission in determining compliance with this section. A
1607	certified high-impact television series may submit an initial
1608	application for no more than two successive seasons,
1609	notwithstanding the fact that the successive seasons have not
1610	been ordered. The successive season's qualified expenditure
1611	amounts shall be based on the current season's estimated
1612	qualified expenditures. Upon the completion of production of
1613	each season, a high-impact television series may submit an
1614	application for no more than one additional season.
1615	(e)  Grounds for denial.-The Office of Film and
1616	Entertainment shall deny an application if it determines that
1617	the application is not complete or the production or application
1618	does not meet the requirements of this section. Within 90 days
1619	after submitting a program application, except with respect to
1620	applications in the independent and emerging media queue, a
1621	production must provide proof of project financing to the Office
1622	of Film and Entertainment, otherwise the project is deemed
1623	denied and withdrawn. A project that has been withdrawn may
1624	submit a new application upon providing the Office of Film and
1625	Entertainment proof of financing.
1626	(4)  TAX CREDIT ELIGIBILITY; TAX CREDIT AWARDS; QUEUES;
1627	ELECTION AND DISTRIBUTION; CARRYFORWARD; CONSOLIDATED RETURNS;
1628	PARTNERSHIP AND NONCORPORATE DISTRIBUTIONS; MERGERS AND
1629	ACQUISITIONS.-
1630	(b)  Tax credit eligibility.-
1631	1.  General production queue.-Ninety-four percent of tax
1632	credits authorized pursuant to subsection (6) in any state
1633	fiscal year must be dedicated to the general production queue.
1634	The general production queue consists of all qualified
1635	productions other than those eligible for the commercial and
1636	music video queue or the independent and emerging media
1637	production queue. A qualified production that demonstrates a
1638	minimum of $625,000 in qualified expenditures is eligible for
1639	tax credits equal to 20 percent of its actual qualified
1640	expenditures, up to a maximum of $8 million. A qualified
1641	production that incurs qualified expenditures during multiple
1642	state fiscal years may combine those expenditures to satisfy the
1643	$625,000 minimum threshold.
1644	a.  An off-season certified production that is a feature
1645	film, independent film, or television series or pilot is
1646	eligible for an additional 5-percent tax credit on actual
1647	qualified expenditures. An off-season certified production that
1648	does not complete 75 percent of principal photography due to a
1649	disruption caused by a hurricane or tropical storm may not be
1650	disqualified from eligibility for the additional 5-percent
1651	credit as a result of the disruption.
1652	b.  If more than 25 percent of the sum of total tax credits
1653	awarded to productions after July 1, 2010, and total tax credits
1654	certified, but not yet awarded, to productions currently in this
1655	state has been awarded for television series, then no television
1656	series or pilot shall be eligible for tax credits under this
1657	subparagraph.
1658	c.  The calculations required by this sub-subparagraph
1659	shall use only credits available to be certified and awarded on
1660	or after July 1, 2011.
1661	(I)  If the provisions of sub-subparagraph b. are not
1662	applicable and less than 25 percent of the sum of the total tax
1663	credits awarded to productions and the total tax credits
1664	certified, but not yet awarded, to productions currently in this
1665	state has been to high-impact television series, any A qualified
1666	high-impact television series shall be allowed first position in
1667	this queue for tax credit awards not yet certified.
1668	(II)  If less than 20 percent of the sum of the total tax
1669	credits awarded to productions and the total tax credits
1670	certified, but not yet awarded, to productions currently in this
1671	state has been to digital media projects, any digital media
1672	project with qualified expenditures of greater than $4,500,000
1673	shall be allowed first position in this queue for tax credit
1674	awards not yet certified.
1675	(III)  For the purposes of determining position between a
1676	high-impact television series allowed first position and a
1677	digital media project allowed first position under this sub-
1678	subparagraph, tax credits shall be awarded on a first-come,
1679	first-served basis.
1680	d.  A qualified production that incurs at least 85 percent
1681	of its qualified expenditures within a region designated as an
1682	underutilized region at the time that the production is
1683	certified is eligible for an additional 5 percent tax credit.
1684	e.  Any qualified production that employs students enrolled
1685	full-time in a film and entertainment-related or digital media-
1686	related course of study at an institution of higher education in
1687	this state is eligible for an additional 15 percent tax credit
1688	on qualified expenditures that are wages, salaries, or other
1689	compensation paid to such students. The additional 15 percent
1690	tax credit shall also be applicable to persons hired within 12
1691	months of graduating from a film and entertainment-related or
1692	digital media-related course of study at an institution of
1693	higher education in this state. The additional 15 percent tax
1694	credit shall apply to qualified expenditures that are wages,
1695	salaries, or other compensation paid to such recent graduates
1696	for one year from the date of hiring.
1697	f.  A qualified production for which 50 percent or more of
1698	its principal photography occurs at a qualified production
1699	facility, or a qualified digital media project or the digital
1700	animation component of a qualified production for which 50
1701	percent or more of the project's or component's qualified
1702	expenditures are related to a qualified digital media production
1703	facility shall be eligible for an additional 5 percent tax
1704	credit on actual qualified expenditures for production activity
1705	at that facility.
1706	g.  No qualified production shall be eligible for tax
1707	credits provided under this paragraph totaling more than 30
1708	percent of its actual qualified expenses.
1709	2.  Commercial and music video queue.-Three percent of tax
1710	credits authorized pursuant to subsection (6) in any state
1711	fiscal year must be dedicated to the commercial and music video
1712	queue. A qualified production company that produces national or
1713	regional commercials or music videos may be eligible for a tax
1714	credit award if it demonstrates a minimum of $100,000 in
1715	qualified expenditures per national or regional commercial or
1716	music video and exceeds a combined threshold of $500,000 after
1717	combining actual qualified expenditures from qualified
1718	commercials and music videos during a single state fiscal year.
1719	After a qualified production company that produces commercials,
1720	music videos, or both reaches the threshold of $500,000, it is
1721	eligible to apply for certification for a tax credit award. The
1722	maximum credit award shall be equal to 20 percent of its actual
1723	qualified expenditures up to a maximum of $500,000. If there is
1724	a surplus at the end of a fiscal year after the Office of Film
1725	and Entertainment certifies and determines the tax credits for
1726	all qualified commercial and video projects, such surplus tax
1727	credits shall be carried forward to the following fiscal year
1728	and be available to any eligible qualified productions under the
1729	general production queue.
1730	3.  Independent and emerging media production queue.-Three
1731	percent of tax credits authorized pursuant to subsection (6) in
1732	any state fiscal year must be dedicated to the independent and
1733	emerging media production queue. This queue is intended to
1734	encourage Florida independent film and emerging media
1735	production. Any qualified production, excluding commercials,
1736	infomercials, or music videos, that demonstrates at least
1737	$100,000, but not more than $625,000, in total qualified
1738	expenditures is eligible for tax credits equal to 20 percent of
1739	its actual qualified expenditures. If a surplus exists at the
1740	end of a fiscal year after the Office of Film and Entertainment
1741	certifies and determines the tax credits for all qualified
1742	independent and emerging media production projects, such surplus
1743	tax credits shall be carried forward to the following fiscal
1744	year and be available to any eligible qualified productions
1745	under the general production queue.
1746	4.  Family-friendly productions.-A certified theatrical or
1747	direct-to-video motion picture production or video game
1748	determined by the Commissioner of Film and Entertainment, with
1749	the advice of the Florida Film and Entertainment Advisory
1750	Council, to be family-friendly, based on the review of the
1751	script and the review of the final release version, is eligible
1752	for an additional tax credit equal to 5 percent of its actual
1753	qualified expenditures. Family-friendly productions are those
1754	that have cross-generational appeal; would be considered
1755	suitable for viewing by children age 5 or older; are appropriate
1756	in theme, content, and language for a broad family audience;
1757	embody a responsible resolution of issues; and do not exhibit or
1758	imply any act of smoking, sex, nudity, or vulgar or profane
1759	language.
1760	(5)  TRANSFER OF TAX CREDITS.-
1761	(c)  Transferee rights and limitations.-The transferee is
1762	subject to the same rights and limitations as the certified
1763	production company awarded the tax credit, except that the
1764	initial transferee shall be permitted a one-time transfer of
1765	unused credits to no more than two subsequent transferees, and
1766	such transfers must occur in the same taxable year as the
1767	credits were received by the initial transferee, after which the
1768	subsequent transferees may not sell or otherwise transfer the
1769	tax credit.
1770	(7)  ANNUAL ALLOCATION OF TAX CREDITS.-
1771	(a)  The aggregate amount of the tax credits that may be
1772	certified pursuant to paragraph (3)(d) may not exceed:
1773	1.  For fiscal year 2010-2011, $53.5 million.
1774	2.  For fiscal year 2011-2012, $74.5 million.
1775	3.  For fiscal years 2012-2013, 2013-2014, and 2014-2015,
1776	$42 $38 million per fiscal year.
1777	(10)  ANNUAL REPORT.-Each October 1, the Office of Film and
1778	Entertainment shall provide an annual report for the previous
1779	fiscal year to the Governor, the President of the Senate, and
1780	the Speaker of the House of Representatives which outlines the
1781	return on investment and economic benefits to the state. The
1782	report shall also include an estimate of the full-time
1783	equivalent positions created by each production that received
1784	tax credits under s. 288.1254 and information relating to the
1785	distribution of productions receiving credits by geographic
1786	region and type of production.
1787	Section 27.  Subsection (5) of section 288.1258, Florida
1788	Statutes, is amended to read:
1789	288.1258  Entertainment industry qualified production
1790	companies; application procedure; categories; duties of the
1791	Department of Revenue; records and reports.-
1792	(5)  RELATIONSHIP OF TAX EXEMPTIONS AND INCENTIVES TO
1793	INDUSTRY GROWTH; REPORT TO THE LEGISLATURE.-The Office of Film
1794	and Entertainment shall keep annual records from the information
1795	provided on taxpayer applications for tax exemption certificates
1796	beginning January 1, 2001. These records shall reflect a ratio
1797	of the annual amount of sales and use tax exemptions under this
1798	section and incentives awarded pursuant to s. 288.1254 to the
1799	estimated amount of funds expended by certified productions,
1800	including productions that received incentives pursuant to s.
1801	288.1254. These records also shall reflect a separate ratio of
1802	the annual amount of sales and use tax exemptions under this
1803	section, plus the incentives awarded pursuant to s. 288.1254 to
1804	the estimated amount of funds expended by certified productions.
1805	In addition, the office shall maintain data showing annual
1806	growth in Florida-based entertainment industry companies and
1807	entertainment industry employment and wages. The employment
1808	information shall include an estimate of the full-time
1809	equivalent positions created by each production that received
1810	tax credits pursuant to s. 288.1254. The Office of Film and
1811	Entertainment shall report this information to the Legislature
1812	no later than December 1 of each year.
1813	Section 28.  Effective January 1, 2012, paragraph (d) is
1814	added to subsection (6) of section 290.0055, Florida Statutes,
1815	to read:
1816	290.0055  Local nominating procedure.-
1817	(6)
1818	(d)1.  The governing body of a jurisdiction which has
1819	nominated an application for an enterprise zone that is no
1820	larger than 12 square miles and includes a portion of the state
1821	designated as a rural area of critical economic concern under s.
1822	288.0656(7) may apply to the Office of Tourism, Trade, and
1823	Economic Development to expand the boundary of the enterprise
1824	zone by not more than 3 square miles. An application to expand
1825	the boundary of an enterprise zone under this paragraph must be
1826	submitted by December 31, 2012.
1827	2.  Notwithstanding the area limitations specified in
1828	subsection (4), the Office of Tourism, Trade, and Economic
1829	Development may approve the request for a boundary amendment if
1830	the area continues to satisfy the remaining requirements of this
1831	section.
1832	3.  The Office of Tourism, Trade, and Economic Development
1833	shall establish the initial effective date of an enterprise zone
1834	designated under this paragraph.
1835	Section 29.  Effective January 1, 2012, section 290.00726,
1836	Florida Statutes, is created to read:
1837	290.00726  Enterprise zone designation for Martin County.-
1838	Martin County may apply to the Office of Tourism, Trade, and
1839	Economic Development for designation of one enterprise zone for
1840	an area within Martin County, which zone shall encompass an area
1841	of up to 10 square miles consisting of land within the primary
1842	urban services boundary and focusing on Indiantown, but
1843	excluding property owned by Florida Power and Light to the west,
1844	two areas to the north designated as estate residential, and the
1845	county-owned Timer Powers Recreational Area. Within the
1846	designated enterprise zone, Martin County shall exempt
1847	residential condominiums from benefiting from state enterprise
1848	zone incentives, unless prohibited by law. The application must
1849	have been submitted by December 31, 2011, and must comply with
1850	the requirements of s. 290.0055. Notwithstanding s. 290.0065
1851	limiting the total number of enterprise zones designated and the
1852	number of enterprise zones within a population category, the
1853	Office of Tourism, Trade, and Economic Development may designate
1854	one enterprise zone under this section. The Office of Tourism,
1855	Trade, and Economic Development shall establish the initial
1856	effective date of the enterprise zone designated under this
1857	section.
1858	Section 30.  Section 290.00727, Florida Statutes, is
1859	created to read:
1860	290.00727  Enterprise zone designation for the City of Palm
1861	Bay.-The City of Palm Bay may apply to the Office of Tourism,
1862	Trade, and Economic Development for designation of one
1863	enterprise zone for an area within the northeast portion of the
1864	city, which zone shall encompass an area of up to 5 square
1865	miles. The application must have been submitted by December 31,
1866	2011, and must comply with the requirements of s. 290.0055.
1867	Notwithstanding s. 290.0065 limiting the total number of
1868	enterprise zones designated and the number of enterprise zones
1869	within a population category, the Office of Tourism, Trade, and
1870	Economic Development may designate one enterprise zone under
1871	this section. The Office of Tourism, Trade, and Economic
1872	Development shall establish the initial effective date of the
1873	enterprise zone designated under this section.
1874	Section 31.  Section 290.00728, Florida Statutes, is
1875	created to read:
1876	290.00728  Enterprise zone designation for Lake County.-
1877	Lake County may apply to the Office of Tourism, Trade, and
1878	Economic Development for designation of one enterprise zone,
1879	which zone shall encompass an area of up to 10 square miles
1880	within Lake County. The application must have been submitted by
1881	December 31, 2011, and must comply with the requirements of s.
1882	290.0055. Notwithstanding s. 290.0065 limiting the total number
1883	of enterprise zones designated and the number of enterprise
1884	zones within a population category, the Office of Tourism,
1885	Trade, and Economic Development may designate one enterprise
1886	zone under this section. The Office of Tourism, Trade, and
1887	Economic Development shall establish the initial effective date
1888	of the enterprise zone designated under this section.
1889	Section 32.  Effective January 1, 2012, subsection (1) of
1890	section 334.30, Florida Statutes, is amended to read:
1891	334.30  Public-private transportation facilities.-The
1892	Legislature finds and declares that there is a public need for
1893	the rapid construction of safe and efficient transportation
1894	facilities for the purpose of traveling within the state, and
1895	that it is in the public's interest to provide for the
1896	construction of additional safe, convenient, and economical
1897	transportation facilities.
1898	(1)  The department may receive or solicit proposals and,
1899	with legislative approval as evidenced by approval of the
1900	project in the department's work program, enter into agreements
1901	with private entities, or consortia thereof, for the building,
1902	operation, ownership, or financing of transportation facilities.
1903	The department may advance projects programmed in the adopted 5-
1904	year work program or projects increasing transportation capacity
1905	and greater than $500 million in the 10-year Strategic
1906	Intermodal Plan using funds provided by public-private
1907	partnerships or private entities to be reimbursed from
1908	department funds for the project as programmed in the adopted
1909	work program. The department shall by rule establish an
1910	application fee for the submission of unsolicited proposals
1911	under this section. The fee must be sufficient to pay the costs
1912	of evaluating the proposals. The department may engage the
1913	services of private consultants to assist in the evaluation.
1914	Before approval, the department must determine that the proposed
1915	project:
1916	(a)  Is in the public's best interest;
1917	(b)  Would not require state funds to be used unless the
1918	project is on the State Highway System;
1919	(c)  Would have adequate safeguards in place to ensure that
1920	no additional costs or service disruptions would be realized by
1921	the traveling public and residents of the state in the event of
1922	default or cancellation of the agreement by the department;
1923	(d)  Would have adequate safeguards in place to ensure that
1924	the department or the private entity has the opportunity to add
1925	capacity to the proposed project and other transportation
1926	facilities serving similar origins and destinations; and
1927	(e)  Would be owned by the department upon completion or
1928	termination of the agreement.
1929
1930	The department shall ensure that all reasonable costs to the
1931	state, related to transportation facilities that are not part of
1932	the State Highway System, are borne by the private entity. The
1933	department shall also ensure that all reasonable costs to the
1934	state and substantially affected local governments and
1935	utilities, related to the private transportation facility, are
1936	borne by the private entity for transportation facilities that
1937	are owned by private entities. For projects on the State Highway
1938	System, the department may use state resources to participate in
1939	funding and financing the project as provided for under the
1940	department's enabling legislation. Because the Legislature
1941	recognizes that private entities or consortia thereof would
1942	perform a governmental or public purpose or function when they
1943	enter into agreements with the department to design, build,
1944	operate, own, or finance transportation facilities, the
1945	transportation facilities, including leasehold interests
1946	thereof, are exempt from ad valorem taxes as provided in chapter
1947	196 to the extent property is owned by the state or other
1948	government entity, and from intangible taxes as provided in
1949	chapter 199 and special assessments of the state, any city,
1950	town, county, special district, political subdivision of the
1951	state, or any other governmental entity. The private entities or
1952	consortia thereof are exempt from tax imposed by chapter 201 on
1953	all documents or obligations to pay money which arise out of the
1954	agreements to design, build, operate, own, lease, or finance
1955	transportation facilities. Any private entities or consortia
1956	thereof must pay any applicable corporate taxes as provided in
1957	chapter chapters 220 and 221, and unemployment compensation
1958	taxes as provided in chapter 443, and sales and use tax as
1959	provided in chapter 212 shall be applicable. The private
1960	entities or consortia thereof must also register and collect the
1961	tax imposed by chapter 212 on all their direct sales and leases
1962	that are subject to tax under chapter 212. The agreement between
1963	the private entity or consortia thereof and the department
1964	establishing a transportation facility under this chapter
1965	constitutes documentation sufficient to claim any exemption
1966	under this section.
1967	Section 33.  Effective January 1, 2012, subsection (4),
1968	paragraph (a) of subsection (6), and subsection (7) of section
1969	624.509, Florida Statutes, are amended to read:
1970	624.509  Premium tax; rate and computation.-
1971	(4)  The income tax imposed under chapter 220 and the
1972	emergency excise tax imposed under chapter 221 which is are paid
1973	by any insurer shall be credited against, and to the extent
1974	thereof shall discharge, the liability for tax imposed by this
1975	section for the annual period in which such tax payments are
1976	made. As to any insurer issuing policies insuring against loss
1977	or damage from the risks of fire, tornado, and certain casualty
1978	lines, the tax imposed by this section, as intended and
1979	contemplated by this subsection, shall be construed to mean the
1980	net amount of such tax remaining after there has been credited
1981	thereon such gross premium receipts tax as may be payable by
1982	such insurer in pursuance of the imposition of such tax by any
1983	incorporated cities or towns in the state for firefighters'
1984	relief and pension funds and police officers' retirement funds
1985	maintained in such cities or towns, as provided in and by
1986	relevant provisions of the Florida Statutes. For purposes of
1987	this subsection, payments of estimated income tax under chapter
1988	220 and of estimated emergency excise tax under chapter 221
1989	shall be deemed paid either at the time the insurer actually
1990	files its annual returns under chapter 220 or at the time such
1991	returns are required to be filed, whichever first occurs, and
1992	not at such earlier time as such payments of estimated tax are
1993	actually made.
1994	(6)(a)  The total of the credit granted for the taxes paid
1995	by the insurer under chapter chapters 220 and 221 and the credit
1996	granted by subsection (5) may shall not exceed 65 percent of the
1997	tax due under subsection (1) after deducting therefrom the taxes
1998	paid by the insurer under ss. 175.101 and 185.08 and any
1999	assessments pursuant to s. 440.51.
2000	(7)  Credits and deductions against the tax imposed by this
2001	section shall be taken in the following order: deductions for
2002	assessments made pursuant to s. 440.51; credits for taxes paid
2003	under ss. 175.101 and 185.08; credits for income taxes paid
2004	under chapter 220, the emergency excise tax paid under chapter
2005	221 and the credit allowed under subsection (5), as these
2006	credits are limited by subsection (6); all other available
2007	credits and deductions.
2008	Section 34.  Effective January 1, 2012, subsection (1) of
2009	section 624.51055, Florida Statutes, is amended to read:
2010	624.51055  Credit for contributions to eligible nonprofit
2011	scholarship-funding organizations.-
2012	(1)  There is allowed a credit of 100 percent of an
2013	eligible contribution made to an eligible nonprofit scholarship-
2014	funding organization under s. 1002.395 against any tax due for a
2015	taxable year under s. 624.509(1). However, such a credit may not
2016	exceed 75 percent of the tax due under s. 624.509(1) after
2017	deducting from such tax deductions for assessments made pursuant
2018	to s. 440.51; credits for taxes paid under ss. 175.101 and
2019	185.08; credits for income taxes paid under chapter 220; credits
2020	for the emergency excise tax paid under chapter 221; and the
2021	credit allowed under s. 624.509(5), as such credit is limited by
2022	s. 624.509(6). An insurer claiming a credit against premium tax
2023	liability under this section shall not be required to pay any
2024	additional retaliatory tax levied pursuant to s. 624.5091 as a
2025	result of claiming such credit. Section 624.5091 does not limit
2026	such credit in any manner.
2027	Section 35.  (1)  The executive director of the Department
2028	of Revenue is authorized, and all conditions are deemed met, to
2029	adopt emergency rules under ss. 120.536(1) and 120.54(4),
2030	Florida Statutes, for the purpose of implementing this act.
2031	(2)  Notwithstanding any other provision of law, such
2032	emergency rules shall remain in effect for 6 months after the
2033	date adopted and may be renewed during the pendency of
2034	procedures to adopt permanent rules addressing the subject of
2035	the emergency rules.
2036	Section 36.  (1)  The tax levied under chapter 212, Florida
2037	Statutes, may not be collected during the period from 12:01 a.m.
2038	on August 12, 2011, through 11:59 p.m. on August 14, 2011, on
2039	the sale of:
2040	(a)  Clothing, wallets, or bags, including handbags,
2041	backpacks, fanny packs, and diaper bags, but excluding
2042	briefcases, suitcases, and other garment bags, having a sales
2043	price of $75 or less per item. As used in this paragraph, the
2044	term "clothing" means:
2045	1.  Any article of wearing apparel intended to be worn on
2046	or about the human body, excluding watches, watchbands, jewelry,
2047	umbrellas, or handkerchiefs; and
2048	2.  All footwear, excluding skis, swim fins, roller blades,
2049	and skates.
2050	(b)  School supplies having a sales price of $15 or less
2051	per item. As used in this paragraph, the term "school supplies"
2052	means pens, pencils, erasers, crayons, notebooks, notebook
2053	filler paper, legal pads, binders, lunch boxes, construction
2054	paper, markers, folders, poster board, composition books, poster
2055	paper, scissors, cellophane tape, glue or paste, rulers,
2056	computer disks, protractors, compasses, and calculators.
2057	(2)  The tax exemptions in this section do not apply to
2058	sales within a theme park or entertainment complex as defined in
2059	s. 509.013(9), Florida Statutes, a public lodging establishment
2060	as defined in s. 509.013(4), Florida Statutes, or an airport as
2061	defined in s. 330.27(2), Florida Statutes.
2062	(3)  The Department of Revenue may, and all conditions are
2063	deemed met to, adopt emergency rules pursuant to ss. 120.536(1)
2064	and 120.54, Florida Statutes, to administer this section.
2065	(4)  This section shall take effect upon this act becoming
2066	a law.
2067	Section 37.  Effective upon this act becoming a law, and
2068	for the 2010-2011 fiscal year, the sum of $218,905 in
2069	nonrecurring funds is appropriated from the General Revenue Fund
2070	to the Department of Revenue for purposes of administering
2071	section 36. Funds remaining unexpended or unencumbered from this
2072	appropriation as of June 30, 2011, shall revert and be
2073	reappropriated for the same purpose in the 2011-2012 fiscal
2074	year.
2075	Section 38.  Effective upon this act becoming a law,
2076	section 288.987, Florida Statutes, is created to read:
2077	288.987  Florida Defense Support Task Force.-
2078	(1)  The Florida Defense Support Task Force is created.
2079	(2)  The mission of the task force is to make
2080	recommendations to prepare the state to effectively compete in
2081	any federal base realignment and closure action, to support the
2082	state's position in research and development related to or
2083	arising out of military missions and contracting, and to improve
2084	the state's military-friendly environment for service members,
2085	military dependents, military retirees, and businesses that
2086	bring military and base-related jobs to the state.
2087	(3)  The task force shall be comprised of the Governor or
2088	his or her designee, and 12 members appointed as follows:
2089	(a)  Four members appointed by the Governor.
2090	(b)  Four members appointed by the President of the Senate.
2091	(c)  Four members appointed by the Speaker of the House of
2092	Representatives.
2093	(d)  Appointed members must represent defense-related
2094	industries or communities that host military bases and
2095	installations. All appointments must be made by August 1, 2011.
2096	Members shall serve for a term of 4 years, with the first term
2097	ending July 1, 2015. However, if members of the Legislature are
2098	appointed to the task force, those members shall serve until the
2099	expiration of their legislative term and may be reappointed
2100	once. A vacancy shall be filled for the remainder of the
2101	unexpired term in the same manner as the initial appointment.
2102	All members of the council are eligible for reappointment. A
2103	member who serves in the Legislature may participate in all task
2104	force activities, but may only vote on matters that are
2105	advisory.
2106	(4)  The President of the Senate and the Speaker of the
2107	House of Representatives shall each designate one of their
2108	appointees to serve as chair of the task force. The chair shall
2109	rotate each July 1. The appointee designated by the President of
2110	the Senate shall serve as initial chair. If the Governor,
2111	instead of his or her designee, participates in the activities
2112	of the task force, then the Governor shall serve as chair.
2113	(5)  The Director of the Office of Tourism, Trade, and
2114	Economic Development within the Executive Office of the
2115	Governor, or his or her designee, shall serve as the ex officio,
2116	nonvoting executive director of the task force.
2117	(6)  The chair shall schedule and conduct the first meeting
2118	of the task force by October 1, 2011. The task force shall
2119	submit a progress report and work plan for the remainder of the
2120	2011-2012 fiscal year to the Governor, the President of the
2121	Senate, and the Speaker of the House of Representatives by
2122	February 1, 2012, and shall submit an annual report each
2123	February 1 thereafter.
2124	(7)  The Office of Tourism, Trade, and Economic Development
2125	shall contract with the task force for expenditure of
2126	appropriated funds, which may be used by the task force for
2127	economic and product research and development, joint planning
2128	with host communities to accommodate military missions and
2129	prevent base encroachment, advocacy on the state's behalf with
2130	federal civilian and military officials, assistance to school
2131	districts in providing a smooth transition for large numbers of
2132	additional military-related students, job training and placement
2133	for military spouses in communities with high proportions of
2134	active duty military personnel, and promotion of the state to
2135	military and related contractors and employers. The task force
2136	may annually spend up to $200,000 of funds appropriated to the
2137	Executive Office of the Governor, Office of Tourism, Trade, and
2138	Economic Development, for the task force for staffing and
2139	administrative expenses of the task force, including travel and
2140	per diem costs incurred by task force members who are not
2141	otherwise eligible for state reimbursement.
2142	Section 39.  There is appropriated for state fiscal year
2143	2011-2012 to the Executive Office of the Governor, Office of
2144	Tourism, Trade, and Economic Development:
2145	(1)  The sum of $15 million in nonrecurring funds from the
2146	General Revenue Fund for the Innovation Incentive Fund program.
2147	(2)  The sum of $42 million in nonrecurring funds from the
2148	General Revenue Fund for the Quick Action Closing Fund program.
2149	From these funds, preference shall be given to those projects
2150	that include at least a 20 percent local match of cash or in-
2151	kind contributions, which contributions provide a cash savings
2152	to the private business entity receiving the incentive awards.
2153	(3)  The sum of $10 million in nonrecurring funds from the
2154	General Revenue Fund for the Institute for the Commercialization
2155	of Public Research.
2156	(4)  The sum of $5 million in nonrecurring funds from the
2157	General Revenue Fund for the Florida Defense Support Task Force.
2158	Section 40.  Except as otherwise expressly provided in this
2159	act and except for this section, which shall take effect upon
2160	this act becoming a law, this act shall take effect July 1,
2161	2011.

CODING: Words stricken are deletions; words underlined are additions.