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


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
CS/HB 143

1
A bill to be entitled
2An act relating to economic development; amending s.
314.2015, F.S.; authorizing the Office of Tourism, Trade,
4and Economic Development to administer corporate income
5tax credits for spaceflight projects; amending ss. 72.011
6and 72.041, F.S.; deleting a reference to conform to
7changes made by this act; amending s. 216.138, F.S.;
8providing for special impact estimating conferences to
9evaluate legislative proposals; requiring conference
10meetings to be open to the public; specifying the four
11principals of the conference; authorizing the convening of
12any special estimating conference by a specified principal
13in order to adopt certain supplemental information;
14requiring all official information of a special impact
15estimating conference to be adopted by consensus;
16authorizing a principal to invite any person to
17participate in the conference; providing definitions;
18amending ss. 220.02 and 220.13, F.S.; revising references
19to conform to changes made by this act; revising the order
20in which credits against the corporate income tax or
21franchise tax may be taken to include credits for certain
22spaceflight projects and certain research and development;
23redefining the term "adjusted federal income" to include
24the amount of certain tax credits taken relating to
25spaceflight projects and research and development;
26providing application; prohibiting a deduction from
27taxable income for any net operating loss if a credit
28against corporate income taxes relating to a spaceflight
29project has been taken or transferred; amending s.
30220.131, F.S.; conforming provisions to changes made by
31this act; amending s. 220.15, F.S.; conforming provisions
32to changes made by this act; creating s. 220.153, F.S.;
33defining the terms "office" and "qualified capital
34expenditures"; providing for the apportionment of certain
35taxpayer's adjusted federal income solely by the sales
36factor provided in s. 220.15, F.S.; providing for
37eligibility based on the taxpayer's capital expenditures;
38providing a qualification and application process;
39authorizing the Department of Revenue to examine and
40verify that a taxpayer has correctly apportioned its
41taxes; authorizing the Office of Tourism, Trade, and
42Economic Development to approve and revoke approval of an
43application; providing for the recapture of unpaid taxes,
44interest, and penalties; authorizing the Office of
45Tourism, Trade, and Economic Development and the
46Department of Revenue to adopt rules; amending s.
47220.1845, F.S.; increasing the annual tax credit cap
48relating to contaminated site rehabilitation; amending s.
49376.30781, F.S.; conforming references; amending s.
50220.16, F.S.; requiring that the amount of payments
51received in exchange for transferring a net operating loss
52for spaceflight projects be allocated to the state;
53creating s. 220.194, F.S.; providing a short title;
54providing legislative purpose; defining terms; authorizing
55a certified spaceflight business to take or transfer
56corporate income tax credits related to spaceflight
57projects carried out in this state; specifying tax credit
58amounts and business eligibility criteria; providing
59limitations; requiring a business to demonstrate to the
60satisfaction of the office and the department its
61eligibility to claim a tax credit; requiring a business to
62submit an application to the office for approval to earn
63credits; specifying the required contents of the
64application; requiring the office to approve or deny an
65application within 60 days after receipt; specifying the
66approval process; requiring a spaceflight business to
67submit an application for certification to the office;
68specifying the required contents of an application for
69certification; specifying the approval process; requiring
70the office to submit a copy of an approved certification
71to the department; providing procedures for transferring a
72tax credit to a taxpayer; authorizing the department to
73perform audits and investigations necessary to verify the
74accuracy of returns relating to the tax credit; specifying
75circumstances under which the office may revoke or modify
76a certification that grants eligibility for tax credits;
77requiring a certified spaceflight business to file an
78amended return and pay any required tax within 60 days
79after receiving notice that previously approved tax
80credits have been revoked or modified; authorizing the
81department to assess additional taxes, interest, or
82penalties; authorizing the office and the department to
83adopt rules; requiring the office to submit an annual
84report to the Governor and Legislature regarding the
85Florida Space Business Incentives Act; creating s.
86220.195, F.S.; creating a corporate income tax credit to
87continue credits available under the emergency excise tax;
88creating s. 220.196, F.S.; providing application;
89providing definitions; providing a tax credit for certain
90research and development expenses; providing eligibility
91requirements for research and development tax credits;
92providing limitations regarding eligibility; providing an
93amount for such credit; providing a maximum amount of
94credit that may be taken during a taxable year by a
95business enterprise; providing that any unused credit may
96be carried forward for a specified period; limiting the
97total amount of tax credits which may be approved by the
98department in a calendar year; providing that applications
99for credits may be filed on or after a specified date;
100requiring that the credits be granted in the order in
101which applications are received; requiring the
102recalculation of a credit under certain circumstances;
103authorizing the department to adopt rules; amending ss.
104220.801, 213.05, 213.053, and 213.255, F.S.; deleting
105references to conform to changes made by this act;
106authorizing the department to share information with the
107office relating to single sales factor apportionment used
108by a taxpayer; authorizing the department to share
109information relating to corporate income tax credits for
110spaceflight projects with the office; repealing chapter
111221, F.S.; repealing the emergency excise tax and related
112provisions; amending ss. 288.075, 288.1045, and 288.106,
113F.S.; deleting references to conform to changes made by
114this act; revising a provision to conform to changes made
115by this act; amending s. 288.1254, F.S.; revising and
116providing definitions; revising criteria for awarding tax
117credits and increasing the amount of credits to be awarded
118under the entertainment industry financial incentive
119program; revising the application procedure and approval
120process; permitting an initial transferee of tax credits
121to make a one-time transfer of unused tax credits;
122amending s. 288.1258, F.S.; changing the recordkeeping
123requirements of the Office of Film and Entertainment;
124amending s. 290.0055, F.S.; authorizing certain governing
125bodies to apply to the Office of Tourism, Trade, and
126Economic Development to amend the boundary of an
127enterprise zone that includes a rural area of critical
128economic concern; providing a limitation; providing an
129application deadline; authorizing the office to approve
130the amendment application subject to certain requirements;
131requiring the office to establish the effective date of
132certain enterprise zones; creating s. 290.00726, F.S.;
133authorizing Martin County to apply to the Office of
134Tourism, Trade, and Economic Development for designation
135of an enterprise zone; providing application requirements;
136authorizing the office to designate an enterprise zone in
137Martin County; providing responsibilities of the office;
138creating s. 290.00727, F.S.; authorizing the City of Palm
139Bay to apply to the Office of Tourism, Trade, and Economic
140Development for designation of an enterprise zone;
141providing application requirements; authorizing the office
142to designate an enterprise zone in the City of Palm Bay;
143providing responsibilities of the office; creating s.
144290.00728, F.S.; authorizing Lake County to apply to the
145Office of Tourism, Trade, and Economic Development for
146designation of an enterprise zone; providing application
147requirements; authorizing the office to designate an
148enterprise zone in Lake County; providing responsibilities
149of the office; amending ss. 334.30, 624.509, and
150624.51055, F.S.; deleting references to conform to changes
151made by this act; authorizing the executive director of
152the Department of Revenue to adopt emergency rules;
153specifying a period during this year when the sale of
154clothing, wallets, bags, and school supplies are exempt
155from the sales tax; providing definitions; providing
156exceptions; authorizing the Department of Revenue to adopt
157emergency rules; providing an appropriation; creating s.
158288.987, F.S.; creating the Florida Defense Support Task
159Force; providing for the task force's mission, membership
160composition, appointment of membership, and
161administration; authorizing the expenditure of
162appropriated funds by the task force for specified
163purposes; providing appropriations to the Executive Office
164of the Governor, Office of Tourism, Trade and Economic
165Development; providing effective dates.
166
167Be It Enacted by the Legislature of the State of Florida:
168
169     Section 1.  Paragraph (f) of subsection (2) of section
17014.2015, Florida Statutes, is amended to read:
171     14.2015  Office of Tourism, Trade, and Economic
172Development; creation; powers and duties.-
173     (2)  The purpose of the Office of Tourism, Trade, and
174Economic Development is to assist the Governor in working with
175the Legislature, state agencies, business leaders, and economic
176development professionals to formulate and implement coherent
177and consistent policies and strategies designed to provide
178economic opportunities for all Floridians. To accomplish such
179purposes, the Office of Tourism, Trade, and Economic Development
180shall:
181     (f)1.  Administer the Florida Enterprise Zone Act under ss.
182290.001-290.016, the community contribution tax credit program
183under ss. 220.183 and 624.5105, the tax refund program for
184qualified target industry businesses under s. 288.106, the tax-
185refund program for qualified defense contractors and space
186flight business contractors under s. 288.1045, contracts for
187transportation projects under s. 288.063, the sports franchise
188facility programs under ss. 288.1162 and 288.11621, the
189professional golf hall of fame facility program under s.
190288.1168, the expedited permitting process under s. 403.973, the
191Rural Community Development Revolving Loan Fund under s.
192288.065, the Regional Rural Development Grants Program under s.
193288.018, the Certified Capital Company Act under s. 288.99, the
194Florida State Rural Development Council, the Rural Economic
195Development Initiative, the corporate income tax credits for
196spaceflight projects under s. 220.194, and other programs that
197are specifically assigned to the office by law, by the
198appropriations process, or by the Governor.
199     1.  Notwithstanding any other provisions of law, the office
200may expend interest earned from the investment of program funds
201deposited in the Grants and Donations Trust Fund to contract for
202the administration of the programs, or portions of the programs,
203enumerated in this paragraph or assigned to the office by law,
204by the appropriations process, or by the Governor. Such
205expenditures are shall be subject to review under chapter 216.
206     2.  The office may enter into contracts in connection with
207the fulfillment of its duties concerning the Florida First
208Business Bond Pool under chapter 159, tax incentives under
209chapters 212 and 220, tax incentives under the Certified Capital
210Company Act in chapter 288, foreign offices under chapter 288,
211the Enterprise Zone program under chapter 290, the Seaport
212Employment Training program under chapter 311, the Florida
213Professional Sports Team License Plates under chapter 320,
214Spaceport Florida under chapter 331, Expedited Permitting under
215chapter 403, and in carrying out other functions that are
216specifically assigned to the office by law, by the
217appropriations process, or by the Governor.
218     Section 2.  Effective January 1, 2012, paragraph (a) of
219subsection (1) of section 72.011, Florida Statutes, is amended
220to read:
221     72.011  Jurisdiction of circuit courts in specific tax
222matters; administrative hearings and appeals; time for
223commencing action; parties; deposits.-
224     (1)(a)  A taxpayer may contest the legality of any
225assessment or denial of refund of tax, fee, surcharge, permit,
226interest, or penalty provided for under s. 125.0104, s.
227125.0108, chapter 198, chapter 199, chapter 201, chapter 202,
228chapter 203, chapter 206, chapter 207, chapter 210, chapter 211,
229chapter 212, chapter 213, chapter 220, chapter 221, s.
230379.362(3), chapter 376, s. 403.717, s. 403.718, s. 403.7185, s.
231538.09, s. 538.25, chapter 550, chapter 561, chapter 562,
232chapter 563, chapter 564, chapter 565, chapter 624, or s.
233681.117 by filing an action in circuit court; or, alternatively,
234the taxpayer may file a petition under the applicable provisions
235of chapter 120. However, once an action has been initiated under
236s. 120.56, s. 120.565, s. 120.569, s. 120.57, or s.
237120.80(14)(b), no action relating to the same subject matter may
238be filed by the taxpayer in circuit court, and judicial review
239shall be exclusively limited to appellate review pursuant to s.
240120.68; and once an action has been initiated in circuit court,
241no action may be brought under chapter 120.
242     Section 3.  Effective January 1, 2012, section 72.041,
243Florida Statutes, is amended to read:
244     72.041  Tax liabilities arising under the laws of other
245states.-Actions to enforce lawfully imposed sales, use, and
246corporate income taxes and motor and other fuel taxes of another
247state may be brought in a court of this state under the
248following conditions:
249     (1)  The state seeking to institute an action for the
250collection, assessment, or enforcement of a lawfully imposed tax
251must have extended a like courtesy to this state;
252     (2)  Venue for any action under this section shall be the
253circuit court of the county in which the defendant resides;
254     (3)  This section does not apply to the enforcement of tax
255warrants of another state unless the warrant has been obtained
256as a result of a judgment entered by a court of competent
257jurisdiction in the taxing state or unless the courts of the
258state seeking to enforce its warrant allow the enforcement of
259the warrants issued by the Department of Revenue pursuant to
260chapters 206, 212, 213, and 220, and 221; and
261     (4)  All tax liabilities owing to this state or any of its
262subdivisions shall be paid first and shall be prior in right to
263any tax liability arising under the laws of other states.
264     Section 4.  Section 216.138, Florida Statutes, is amended
265to read:
266     216.138  Authority to request additional analysis of
267legislative proposals legislation.-
268     (1)  The President of the Senate or the Speaker of the
269House of Representatives may request special impact sessions of
270consensus estimating conferences to evaluate legislative
271proposals proposed legislation based on tools and models not
272generally employed by the consensus estimating conferences,
273including cost-benefit, return-on-investment, or dynamic scoring
274techniques, when suitable and appropriate for the legislative
275proposals legislation being evaluated.
276     (2)  Unless exempt from s. 119.07(1), information used to
277develop the analyses shall be available to the public. In
278addition, all meetings of a special impact estimating conference
279shall be open to the public. The President of the Senate and the
280Speaker of the House of Representatives, jointly, shall be the
281sole judge for the interpretation, implementation, and
282enforcement of this subsection.
283     (3)  A special impact estimating conference shall consist
284of four principals: one person from the Executive Office of the
285Governor; the coordinator of the Office of Economic and
286Demographic Research, or his or her designee; one person from
287the professional staff of the Senate; and one person from the
288professional staff of the House of Representatives. Each
289principal shall have appropriate fiscal expertise in the subject
290matter of the legislative proposal. A separate special impact
291estimating conference may be appointed for each proposal.
292     (4)  After the designation of the four principals, a
293special impact estimating conference shall convene to adopt
294official information relating to the proposal.
295     (a)  A principal may invite any person to participate in a
296special impact estimating conference. Such person shall be
297designated as a participant. A participant shall, at the request
298of any principal before or during any meeting of a conference,
299collect and supply data, perform analyses, or provide other
300information needed by a conference.
301     (b)  The principal from the Office of Economic and
302Demographic Research may convene any of the conferences
303established in s. 216.136 to reach a consensus on supplemental
304information required for the analysis of the proposed
305legislation.
306     (c)  All official information of a special impact
307estimating conference shall be adopted by consensus of all of
308the principals of the conference. For the purposes of this
309section, the terms "official information" and "consensus" have
310the same meanings as provided in s. 216.133.
311     Section 5.  Subsection (8) of section 220.02, Florida
312Statutes, is amended to read:
313     220.02  Legislative intent.-
314     (8)  It is the intent of the Legislature that credits
315against either the corporate income tax or the franchise tax be
316applied in the following order: those enumerated in s. 631.828,
317those enumerated in s. 220.191, those enumerated in s. 220.181,
318those enumerated in s. 220.183, those enumerated in s. 220.182,
319those enumerated in s. 220.1895, those enumerated in s. 221.02,
320those enumerated in s. 220.184, those enumerated in s. 220.186,
321those enumerated in s. 220.1845, those enumerated in s. 220.19,
322those enumerated in s. 220.185, those enumerated in s. 220.1875,
323those enumerated in s. 220.192, those enumerated in s. 220.193,
324those enumerated in s. 288.9916, those enumerated in s.
325220.1899, and those enumerated in s. 220.1896, those enumerated
326in s. 220.194, and those enumerated in s. 220.196.
327     Section 6.  Effective January 1, 2012, subsection (8) of
328section 220.02, Florida Statutes, as amended by this act, is
329amended to read:
330     220.02  Legislative intent.-
331     (8)  It is the intent of the Legislature that credits
332against either the corporate income tax or the franchise tax be
333applied in the following order: those enumerated in s. 631.828,
334those enumerated in s. 220.191, those enumerated in s. 220.181,
335those enumerated in s. 220.183, those enumerated in s. 220.182,
336those enumerated in s. 220.1895, those enumerated in s. 220.195
337221.02, those enumerated in s. 220.184, those enumerated in s.
338220.186, those enumerated in s. 220.1845, those enumerated in s.
339220.19, those enumerated in s. 220.185, those enumerated in s.
340220.1875, those enumerated in s. 220.192, those enumerated in s.
341220.193, those enumerated in s. 288.9916, those enumerated in s.
342220.1899, those enumerated in s. 220.1896, those enumerated in
343s. 220.194, and those enumerated in 220.196.
344     Section 7.  Paragraphs (a) and (b) of subsection (1) of
345section 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
348equal to the taxpayer's taxable income as defined in subsection
349(2), or such taxable income of more than one taxpayer as
350provided in s. 220.131, for the taxable year, adjusted as
351follows:
352     (a)  Additions.-There shall be added to such taxable
353income:
354     1.  The amount of any tax upon or measured by income,
355excluding taxes based on gross receipts or revenues, paid or
356accrued as a liability to the District of Columbia or any state
357of the United States which is deductible from gross income in
358the computation of taxable income for the taxable year.
359     2.  The amount of interest which is excluded from taxable
360income under s. 103(a) of the Internal Revenue Code or any other
361federal law, less the associated expenses disallowed in the
362computation of taxable income under s. 265 of the Internal
363Revenue Code or any other law, excluding 60 percent of any
364amounts included in alternative minimum taxable income, as
365defined in s. 55(b)(2) of the Internal Revenue Code, if the
366taxpayer pays tax under s. 220.11(3).
367     3.  In the case of a regulated investment company or real
368estate investment trust, an amount equal to the excess of the
369net long-term capital gain for the taxable year over the amount
370of the capital gain dividends attributable to the taxable year.
371     4.  That portion of the wages or salaries paid or incurred
372for the taxable year which is equal to the amount of the credit
373allowable for the taxable year under s. 220.181. This
374subparagraph shall expire on the date specified in s. 290.016
375for the expiration of the Florida Enterprise Zone Act.
376     5.  That portion of the ad valorem school taxes paid or
377incurred for the taxable year which is equal to the amount of
378the credit allowable for the taxable year under s. 220.182. This
379subparagraph shall expire on the date specified in s. 290.016
380for the expiration of the Florida Enterprise Zone Act.
381     6.  The amount of emergency excise tax paid or accrued as a
382liability to this state under chapter 221 which tax is
383deductible from gross income in the computation of taxable
384income for the taxable year.
385     7.  That portion of assessments to fund a guaranty
386association incurred for the taxable year which is equal to the
387amount of the credit allowable for the taxable year.
388     8.  In the case of a nonprofit corporation which holds a
389pari-mutuel permit and which is exempt from federal income tax
390as a farmers' cooperative, an amount equal to the excess of the
391gross income attributable to the pari-mutuel operations over the
392attributable expenses for the taxable year.
393     9.  The amount taken as a credit for the taxable year under
394s. 220.1895.
395     10.  Up to nine percent of the eligible basis of any
396designated project which is equal to the credit allowable for
397the taxable year under s. 220.185.
398     11.  The amount taken as a credit for the taxable year
399under s. 220.1875. The addition in this subparagraph is intended
400to ensure that the same amount is not allowed for the tax
401purposes of this state as both a deduction from income and a
402credit against the tax. This addition is not intended to result
403in adding the same expense back to income more than once.
404     12.  The amount taken as a credit for the taxable year
405under s. 220.192.
406     13.  The amount taken as a credit for the taxable year
407under s. 220.193.
408     14.  Any portion of a qualified investment, as defined in
409s. 288.9913, which is claimed as a deduction by the taxpayer and
410taken as a credit against income tax pursuant to s. 288.9916.
411     15.  The costs to acquire a tax credit pursuant to s.
412288.1254(5) that are deducted from or otherwise reduce federal
413taxable income for the taxable year.
414     16.  The amount taken as a credit for the taxable year
415under s. 220.194.
416     17.  The amount taken as a credit for the taxable year
417under s. 220.196. The addition in this subparagraph is intended
418to ensure that the same amount is not allowed for the tax
419purposes of this state as both a deduction from income and a
420credit against the tax. The addition is not intended to result
421in 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
425income tax purposes under s. 172 of the Internal Revenue Code
426for the taxable year, except that any net operating loss that is
427transferred pursuant to s. 220.194(6) may not be deducted by the
428seller,
429     b.  The net capital loss allowable for federal income tax
430purposes under s. 1212 of the Internal Revenue Code for the
431taxable year,
432     c.  The excess charitable contribution deduction allowable
433for federal income tax purposes under s. 170(d)(2) of the
434Internal Revenue Code for the taxable year, and
435     d.  The excess contributions deductions allowable for
436federal income tax purposes under s. 404 of the Internal Revenue
437Code for the taxable year.
438
439However, a net operating loss and a capital loss shall never be
440carried back as a deduction to a prior taxable year, but all
441deductions attributable to such losses shall be deemed net
442operating loss carryovers and capital loss carryovers,
443respectively, and treated in the same manner, to the same
444extent, and for the same time periods as are prescribed for such
445carryovers in ss. 172 and 1212, respectively, of the Internal
446Revenue Code.
447     2.  There shall be subtracted from such taxable income any
448amount to the extent included therein the following:
449     a.  Dividends treated as received from sources without the
450United States, as determined under s. 862 of the Internal
451Revenue Code.
452     b.  All amounts included in taxable income under s. 78 or
453s. 951 of the Internal Revenue Code.
454
455However, as to any amount subtracted under this subparagraph,
456there shall be added to such taxable income all expenses
457deducted on the taxpayer's return for the taxable year which are
458attributable, directly or indirectly, to such subtracted amount.
459Further, no amount shall be subtracted with respect to dividends
460paid or deemed paid by a Domestic International Sales
461Corporation.
462     3.  In computing "adjusted federal income" for taxable
463years beginning after December 31, 1976, there shall be allowed
464as a deduction the amount of wages and salaries paid or incurred
465within this state for the taxable year for which no deduction is
466allowed 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
469amount of nonbusiness income included therein.
470     5.  There shall be subtracted any amount of taxes of
471foreign countries allowable as credits for taxable years
472beginning on or after September 1, 1985, under s. 901 of the
473Internal Revenue Code to any corporation which derived less than
47420 percent of its gross income or loss for its taxable year
475ended in 1984 from sources within the United States, as
476described in s. 861(a)(2)(A) of the Internal Revenue Code, not
477including credits allowed under ss. 902 and 960 of the Internal
478Revenue Code, withholding taxes on dividends within the meaning
479of sub-subparagraph 2.a., and withholding taxes on royalties,
480interest, technical service fees, and capital gains.
481     6.  Notwithstanding any other provision of this code,
482except with respect to amounts subtracted pursuant to
483subparagraphs 1. and 3., any increment of any apportionment
484factor which is directly related to an increment of gross
485receipts or income which is deducted, subtracted, or otherwise
486excluded in determining adjusted federal income shall be
487excluded from both the numerator and denominator of such
488apportionment factor. Further, all valuations made for
489apportionment factor purposes shall be made on a basis
490consistent with the taxpayer's method of accounting for federal
491income tax purposes.
492     Section 8.  Effective January 1, 2012, paragraph (a) of
493subsection (1) of section 220.13, Florida Statutes, as amended
494by this act, is amended to read:
495     220.13  "Adjusted federal income" defined.-
496     (1)  The term "adjusted federal income" means an amount
497equal to the taxpayer's taxable income as defined in subsection
498(2), or such taxable income of more than one taxpayer as
499provided in s. 220.131, for the taxable year, adjusted as
500follows:
501     (a)  Additions.-There shall be added to such taxable
502income:
503     1.  The amount of any tax upon or measured by income,
504excluding taxes based on gross receipts or revenues, paid or
505accrued as a liability to the District of Columbia or any state
506of the United States which is deductible from gross income in
507the computation of taxable income for the taxable year.
508     2.  The amount of interest which is excluded from taxable
509income under s. 103(a) of the Internal Revenue Code or any other
510federal law, less the associated expenses disallowed in the
511computation of taxable income under s. 265 of the Internal
512Revenue Code or any other law, excluding 60 percent of any
513amounts included in alternative minimum taxable income, as
514defined in s. 55(b)(2) of the Internal Revenue Code, if the
515taxpayer pays tax under s. 220.11(3).
516     3.  In the case of a regulated investment company or real
517estate investment trust, an amount equal to the excess of the
518net long-term capital gain for the taxable year over the amount
519of the capital gain dividends attributable to the taxable year.
520     4.  That portion of the wages or salaries paid or incurred
521for the taxable year which is equal to the amount of the credit
522allowable for the taxable year under s. 220.181. This
523subparagraph shall expire on the date specified in s. 290.016
524for the expiration of the Florida Enterprise Zone Act.
525     5.  That portion of the ad valorem school taxes paid or
526incurred for the taxable year which is equal to the amount of
527the credit allowable for the taxable year under s. 220.182. This
528subparagraph shall expire on the date specified in s. 290.016
529for the expiration of the Florida Enterprise Zone Act.
530     6.  The amount taken as a credit under s. 220.195 of
531emergency excise tax paid or accrued as a liability to this
532state under chapter 221 which tax is deductible from gross
533income in the computation of taxable income for the taxable
534year.
535     7.  That portion of assessments to fund a guaranty
536association incurred for the taxable year which is equal to the
537amount of the credit allowable for the taxable year.
538     8.  In the case of a nonprofit corporation which holds a
539pari-mutuel permit and which is exempt from federal income tax
540as a farmers' cooperative, an amount equal to the excess of the
541gross income attributable to the pari-mutuel operations over the
542attributable expenses for the taxable year.
543     9.  The amount taken as a credit for the taxable year under
544s. 220.1895.
545     10.  Up to nine percent of the eligible basis of any
546designated project which is equal to the credit allowable for
547the taxable year under s. 220.185.
548     11.  The amount taken as a credit for the taxable year
549under s. 220.1875. The addition in this subparagraph is intended
550to ensure that the same amount is not allowed for the tax
551purposes of this state as both a deduction from income and a
552credit against the tax. This addition is not intended to result
553in adding the same expense back to income more than once.
554     12.  The amount taken as a credit for the taxable year
555under s. 220.192.
556     13.  The amount taken as a credit for the taxable year
557under s. 220.193.
558     14.  Any portion of a qualified investment, as defined in
559s. 288.9913, which is claimed as a deduction by the taxpayer and
560taken as a credit against income tax pursuant to s. 288.9916.
561     15.  The costs to acquire a tax credit pursuant to s.
562288.1254(5) that are deducted from or otherwise reduce federal
563taxable income for the taxable year.
564     16.  The amount taken as a credit for the taxable year
565pursuant to s. 220.194.
566     17.  The amount taken as a credit for the taxable year
567under s. 220.196. The addition in this subparagraph is intended
568to ensure that the same amount is not allowed for the tax
569purposes of this state as both a deduction from income and a
570credit against the tax. The addition is not intended to result
571in adding the same expense back to income more than once.
572     Section 9.  Subsection (5) of section 220.131, Florida
573Statutes, is amended to read:
574     220.131  Adjusted federal income; affiliated groups.-
575     (5)  Each taxpayer shall apportion adjusted federal income
576under s. 220.15 as a member of an affiliated group which files a
577consolidated return under this section on the basis of
578apportionment factors described in s. 220.15. For the purposes
579of this subsection, each special industry member included in an
580affiliated group filing a consolidated return hereunder, who
581which member would otherwise be permitted to use a special
582method of apportionment under s. 220.151 or s. 220.153, shall
583construct the numerator of its sales, property, and payroll
584factors, respectively, by multiplying the denominator of each
585such factor by the premiums, or revenue miles, or single sales
586factor ratio otherwise applicable under pursuant to s. 220.151
587or s. 220.153 in the manner prescribed by the department by
588rule.
589     Section 10.  Subsection (1) of section 220.15, Florida
590Statutes, 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
594be apportioned to this state by taxpayers doing business within
595and without this state by multiplying it by an apportionment
596fraction composed of a sales factor representing 50 percent of
597the fraction, a property factor representing 25 percent of the
598fraction, and a payroll factor representing 25 percent of the
599fraction. If any factor described in subsection (2), subsection
600(4), or subsection (5) has a denominator that is zero or is
601determined by the department to be insignificant, the relative
602weights of the other factors in the denominator of the
603apportionment fraction shall be as follows:
604     (a)  If the denominators for any two factors are zero or
605are insignificant, the weighted percentage for the remaining
606factor shall be 100 percent.
607     (b)  If the denominator for the sales factor is zero or is
608insignificant, the weighted percentage for the property and
609payroll factors shall change from 25 percent to 50 percent,
610respectively.
611     (c)  If the denominator for either the property or payroll
612factor is zero or is insignificant, the weighted percentage for
613the other shall be 33 1/3 percent, and the weighted percentage
614for the sales factor shall be 66 2/3 percent.
615     Section 11.  Section 220.153, Florida Statutes, is created
616to 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
620Economic Development.
621     (b)  "Qualified capital expenditures" means expenditures in
622this state for purposes substantially related to a business's
623production or sale of goods or services. The expenditure must
624fund the acquisition of additional real property (land,
625buildings, including appurtenances, fixtures and fixed
626equipment, structures, etc.), including additions, replacements,
627major repairs, and renovations to real property which materially
628extend its useful life or materially improve or change its
629functional use and the furniture and equipment necessary to
630furnish and operate a new or improved facility. The term
631"qualified capital expenditures" does not include an expenditure
632for a passive investment or for an investment intended for the
633accumulation of reserves or the realization of profit for
634distribution to any person holding an ownership interest in the
635business. The term "qualified capital expenditures" does not
636include expenditures to acquire an existing business or
637expenditures in excess of $125 million to acquire land or
638buildings.
639     (2)  APPORTIONMENT OF TAXES; ELIGIBILITY.-A taxpayer, not
640including a financial organization as defined in s. 220.15(6) or
641a bank, savings association, international banking facility, or
642banking organization as defined in s. 220.62, doing business
643within and without this state, who applies and demonstrates to
644the office that, within a 2-year period beginning on or after
645July 1, 2011, it has made qualified capital expenditures equal
646to or exceeding $250 million may apportion its adjusted federal
647income solely by the sales factor set forth in s. 220.15(5),
648commencing in the taxable year that the office approves the
649application, but not before a taxable year that begins on or
650after January 1, 2013. Once approved, a taxpayer may elect to
651apportion its adjusted federal income for any taxable year using
652the method provided under this section or the method provided
653under s. 220.15.
654     (3)  QUALIFICATION PROCESS.-
655     (a)  To qualify as a taxpayer who is eligible to apportion
656its adjusted federal income under this section:
657     1.  The taxpayer must notify the office of its intent to
658submit an application to apportion its adjusted federal income
659in order to commence the 2-year period for measuring qualified
660capital expenditures.
661     2.  The taxpayer must submit an application to apportion
662its adjusted federal income under this section to the office
663within 2 years after notifying the office of the taxpayer's
664intent to qualify. The application must be made under oath and
665provide such information as the office reasonably requires by
666rule for determining the applicant's eligibility to apportion
667adjusted federal income under this section. The taxpayer is
668responsible for affirmatively demonstrating to the satisfaction
669of the office that it meets the eligibility requirements.
670     (b)  The taxpayer notice and application forms shall be
671established by the office by rule. The office shall acknowledge
672receipt of the notice and approve or deny the application in
673writing within 45 days after receipt.
674     (4)  REVIEW AUTHORITY; RECAPTURE OF TAX.-
675     (a)  In addition to its existing audit authority, the
676department may perform any financial and technical review and
677investigation, including examining the accounts, books, and
678records of the taxpayer as necessary, to verify that the
679taxpayer's tax return correctly computes and apportions adjusted
680federal income and to ensure compliance with this chapter.
681     (b)  The office may, by order, revoke its decision to grant
682eligibility for apportionment pursuant to this section, and may
683also order the recalculation of apportionment factors to those
684applicable under s. 220.15 if, as the result of an audit,
685investigation, or examination, it determines that information
686provided by the taxpayer in the application, or in a statement,
687representation, record, report, plan, or other document provided
688to the office to become eligible for apportionment, was
689materially false at the time it was made and that an individual
690acting on behalf of the taxpayer knew, or should have known,
691that the information submitted was false. The taxpayer shall pay
692such additional taxes and interest as may be due pursuant to
693this chapter computed as the difference between the tax that
694would have been due under the apportionment formula provided in
695s. 220.15 for such years and the tax actually paid. In addition,
696the department shall assess a penalty equal to 100 percent of
697the additional tax due.
698     (c)  The office shall immediately notify the department of
699an order affecting a taxpayer's eligibility to apportion tax
700pursuant to this section. A taxpayer who is liable for past tax
701must file an amended return with the department, or such other
702report as the department prescribes by rule, and pay any
703required tax, interest, and penalty within 60 days after the
704taxpayer receives notification from the office that the
705previously approved credits have been revoked. If the revocation
706is contested, the taxpayer shall file an amended return or other
707report within 30 days after an order becomes final. A taxpayer
708who fails to pay the past tax, interest, and penalty by the due
709date is subject to the penalties provided in s. 220.803.
710     (5)  RULES.-The office and the department may adopt rules
711to administer this section.
712     Section 12.  Paragraph (f) of subsection (2) of section
713220.1845, 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
717granted under this section is $5 $2 million annually.
718     Section 13.  Subsections (4), (5), and (11) of section
719376.30781, Florida Statutes, are amended to read:
720     376.30781  Tax credits for rehabilitation of drycleaning-
721solvent-contaminated sites and brownfield sites in designated
722brownfield areas; application process; rulemaking authority;
723revocation authority.-
724     (4)  The Department of Environmental Protection is
725responsible for allocating the tax credits provided for in s.
726220.1845, which may not exceed a total of $5 $2 million in tax
727credits annually.
728     (5)  To claim the credit for site rehabilitation or solid
729waste removal, each tax credit applicant must apply to the
730Department of Environmental Protection for an allocation of the
731$5 $2 million annual credit by filing a tax credit application
732with the Division of Waste Management on a form developed by the
733Department of Environmental Protection in cooperation with the
734Department of Revenue. The form shall include an affidavit from
735each tax credit applicant certifying that all information
736contained in the application, including all records of costs
737incurred and claimed in the tax credit application, are true and
738correct. If the application is submitted pursuant to
739subparagraph (3)(a)2., the form must include an affidavit signed
740by the real property owner stating that it is not, and has never
741been, the owner or operator of the drycleaning facility where
742the contamination exists. Approval of tax credits must be
743accomplished on a first-come, first-served basis based upon the
744date and time complete applications are received by the Division
745of Waste Management, subject to the limitations of subsection
746(14). To be eligible for a tax credit, the tax credit applicant
747must:
748     (a)  For site rehabilitation tax credits, have entered into
749a voluntary cleanup agreement with the Department of
750Environmental Protection for a drycleaning-solvent-contaminated
751site or a Brownfield Site Rehabilitation Agreement, as
752applicable, and have paid all deductibles pursuant to s.
753376.3078(3)(e) for eligible drycleaning-solvent-cleanup program
754sites, as applicable. A site rehabilitation tax credit applicant
755must submit only a single completed application per site for
756each calendar year's site rehabilitation costs. A site
757rehabilitation application must be received by the Division of
758Waste Management of the Department of Environmental Protection
759by January 31 of the year after the calendar year for which site
760rehabilitation costs are being claimed in a tax credit
761application. All site rehabilitation costs claimed must have
762been for work conducted between January 1 and December 31 of the
763year for which the application is being submitted. All payment
764requests must have been received and all costs must have been
765paid prior to submittal of the tax credit application, but no
766later than January 31 of the year after the calendar year for
767which site rehabilitation costs are being claimed.
768     (b)  For solid waste removal tax credits, have entered into
769a brownfield site rehabilitation agreement with the Department
770of Environmental Protection. A solid waste removal tax credit
771applicant must submit only a single complete application per
772brownfield site, as defined in the brownfield site
773rehabilitation agreement, for solid waste removal costs. A solid
774waste removal tax credit application must be received by the
775Division of Waste Management of the Department of Environmental
776Protection subsequent to the completion of the requirements
777listed in paragraph (3)(e).
778     (11)  If a tax credit applicant does not receive a tax
779credit allocation due to an exhaustion of the $5 2 million
780annual tax credit authorization, such application will then be
781included in the same first-come, first-served order in the next
782year's annual tax credit allocation, if any, based on the prior
783year application.
784     Section 14.  Subsection (5) is added to section 220.16,
785Florida Statutes, to read:
786     220.16  Allocation of nonbusiness income.-Nonbusiness
787income shall be allocated as follows:
788     (5)  The amount of payments received in exchange for
789transferring a net operating loss authorized by s. 220.194 is
790allocable to the state.
791     Section 15.  Section 220.194, Florida Statutes, is created
792to read:
793     220.194  Corporate income tax credits for spaceflight
794projects.-
795     (1)  SHORT TITLE.-This section may be cited as the "Florida
796Space Business Incentives Act."
797     (2)  PURPOSE.-The purpose of this section is to create
798incentives to attract launch, payload, research and development,
799and 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
802of an activity supports a certified spaceflight business.
803     (b)  "Certified" means that a spaceflight business has been
804certified by the office as meeting all of the requirements
805necessary to obtain at least one of the approved tax credits
806available under this section, including approval to transfer a
807credit.
808     (c)  "New employee" means a state resident who begins or
809maintains full-time employment in this state with a spaceflight
810business on or after October 1, 2011. The term does not include
811a person who is a partner, majority stockholder, or owner of the
812business or a person who is employed in a temporary construction
813job or primarily involved with the construction of real
814property.
815     (d)  "New job" means the full-time employment of an
816employee in a manner that is consistent with terms used by the
817Agency for Workforce Innovation and the United States Department
818of Labor for purposes of unemployment compensation tax
819administration and employment estimation. In order to meet the
820requirement for certification specified in paragraph (5)(b), a
821new job must:
822     1.  Pay new employees at least 115 percent of the statewide
823or countywide average annual private-sector wage for the 3
824taxable years immediately preceding filing an application for
825certification;
826     2.  Require a new employee to perform duties on a regular
827full-time basis in this state for an average of at least 36
828hours per week each month for the 3 taxable years immediately
829preceding filing an application for certification; and
830     3.  Not be held by a person who has previously been
831included as a new employee on an application for any credit
832authorized under this section.
833     (e)  "Office" means the Office of Tourism, Trade, and
834Economic Development.
835     (f)  "Payload" means an object built or assembled in this
836state to be placed into earth's upper atmospheres or space.
837     (g)  "Reentry" means to return or attempt to return an
838object from earth's upper atmospheres or space.
839     (h)  "Reentry service" means an activity conducted in this
840state related to preparing a reentry vehicle and any payload for
841reentry and the reentry.
842     (i)  "Space vehicle" means any spacecraft, satellite, space
843station, upper-stage, launch vehicle, reentry vehicle, and
844related ground-support systems and equipment.
845     (j)  "Spaceflight business" means a business that:
846     1.  Is registered with the Secretary of State to do
847business in this state; and
848     2.  Is currently engaged in a spaceflight project. A
849spaceflight business may participate in more than one
850spaceflight project at a time and may conduct work on a
851commercial, governmental, or United States defense-related
852spaceflight project.
853     (k)  "Spaceflight project" means any of the following
854activities performed in this state:
855     1.  Designing, manufacturing, testing, or assembling a
856space vehicle or components thereof;
857     2.  Providing a launch service, payload processing service,
858or reentry service; or
859     3.  Providing the payload for a launch vehicle or reentry
860space vehicle;
861     4.  Administrative support; or
862     5.  Providing the launch vehicle or the reentry vehicle for
863space tourists.
864     (l)  "Taxpayer" has the same meaning as provided in s.
865220.03.
866     (4)  TAX CREDITS.-
867     (a)  If approved and certified pursuant to subsection (5),
868the following tax credits may be taken on a return for a taxable
869year beginning on or after October 1, 2015:
870     1.  A certified spaceflight business may take a
871nontransferable corporate income tax credit for up to 50 percent
872of the business's tax liability under this chapter for the
873taxable year in which the credit is taken. The maximum
874nontransferable tax credit amount that may be approved per
875taxpayer for a taxable year is $1 million. No more than $3
876million in total tax credits pursuant to this subparagraph may
877be certified pursuant to subsection (5). No credit may be
878approved after October 1, 2017.
879     2.  A certified spaceflight business may transfer, in whole
880or in part, its Florida net operating loss that would otherwise
881be available to be taken on a return filed under this chapter,
882provided that the activity giving rise to such net operating
883loss must have occurred after July 1, 2011. The transfer allowed
884under this subparagraph will be in the form of a transferable
885tax credit equal to the amount of the net operating loss
886eligible to be transferred. The maximum transferable tax credit
887amount that may be approved per taxpayer for a taxable year is
888$2.5 million. No more than $7 million in total tax credits
889pursuant to this subparagraph may be certified pursuant to
890subsection (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
893taxable year in which it is transferred;
894     (II)  Have incurred a qualifying net operating loss on
895activity in this state after July 1, 2011, directly associated
896with one or more spaceflight projects in any of its 3 previous
897taxable years;
898     (III)  Not be 50 percent or more owned or controlled,
899directly or indirectly, by another corporation that has
900demonstrated positive net income in any of the 3 previous
901taxable years of ongoing operations; and
902     (IV)  Not be part of a consolidated group of affiliated
903corporations, as filed for federal income tax purposes, which in
904the aggregate demonstrated positive net income in any of the 3
905previous taxable years.
906     b.  The credit that may be transferred by a certified
907spaceflight business:
908     (I)  Is limited to the amount of eligible net operating
909losses incurred in the immediate 3 taxable years before the
910transfer; and
911     (II)  Must be directly associated with a spaceflight
912project in this state as verified through an audit or
913examination by a certified public accountant licensed to do
914business in this state and as verified by the office.
915     (b)  Each certified spaceflight business may only be
916approved for a credit under subparagraph (a)1. once and may only
917be approved to transfer a tax credit under subparagraph (a)2.
918once, and a certified spaceflight business may not be approved
919for both in a single state fiscal year.
920     (c)  Credits approved under subparagraph (a)1. may be taken
921only against the corporate income tax liability generated by or
922arising out of a spaceflight project in this state, as verified
923through an audit or examination by a certified public accountant
924licensed to do business in this state and as verified by the
925office.
926     (d)  A certified spaceflight business may not file a
927consolidated return in order to claim the tax incentives
928described in this subsection.
929     (e)  The certified spaceflight business or transferee must
930demonstrate to the satisfaction of the office and the department
931that it is eligible to take the credits approved under this
932section.
933     (5)  APPLICATION AND CERTIFICATION.-
934     (a)  In order to claim a tax credit under this section, a
935spaceflight business must first submit an application to the
936office for approval to earn tax credits or create transferable
937tax credits. The application must be filed by the date
938established by the office. In addition to any information that
939the office may require, the applicant must provide a complete
940description of the activity in this state which demonstrates to
941the office the applicant's likelihood to be certified to take or
942transfer a credit. The applicant must also provide a description
943of the total amount and type of credits for which approval is
944sought. The office may consult with Space Florida regarding the
945qualifications of an applicant. The applicant shall provide an
946affidavit certifying that all information contained in the
947application is true and correct.
948     1.  Approval of the credits shall be provided on a first-
949come, first-served basis, based on the date the completed
950applications are received by the office. A taxpayer may not
951submit more than one completed application per state fiscal
952year. The office may not accept an incomplete placeholder
953application, and the submission of such an application will not
954secure a place in the first-come, first-served application line.
955     2.  The office has 60 days after the receipt of a completed
956application within which to issue a notice of intent to deny or
957approve an application for credits. The office must ensure that
958the corporate income tax credits approved for all applicants
959does not exceed the limits provided in this section.
960     (b)  In order to take a tax credit under subparagraph (a)1.
961or, if applicable, to transfer an approved credit under
962subparagraph (a)2., a spaceflight business must submit an
963application for certification to the office along with a
964nonrefundable $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
968office that:
969     (I)  The taxpayer is a spaceflight business.
970     (II)  The business has engaged in a qualifying spaceflight
971project before taking or transferring a credit under this
972section.
973     c.  In addition to any requirement specific to a credit,
974documentation that the business has:
975     (I)  Created 35 new jobs in this state directly associated
976with spaceflight projects during its immediately preceding 3
977taxable years. The business shall be deemed to have created new
978jobs if the number of full-time jobs located in this state at
979the time of application for certification is greater than the
980total number of full-time jobs located in this state at the time
981of application for approval to earn credits; and
982     (II)  Invested a total of at least $15 million in this
983state on a spaceflight project during its immediately preceding
9843 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
987be accomplished pursuant to subsection (5).
988     f.  A copy of an audit or audits of the preceding 3 taxable
989years, prepared by a certified public accountant licensed to
990practice in this state, which identifies that portion of the
991business's activities in this state related to spaceflight
992projects in this state.
993     g.  An acknowledgement that the business must file an
994annual report on the spaceflight project's progress with the
995office.
996     h.  Any other information necessary to demonstrate that the
997applicant meets the job creation, investment, and other
998requirements of this section.
999     2.  Within 60 days after receipt of the application for
1000certification, the office shall evaluate the application and
1001recommend the business for certification or denial. The
1002executive director of the office must approve or deny the
1003application within 30 days after receiving the recommendation.
1004If approved, the office must provide a letter of certification
1005to the applicant consistent with any restrictions imposed. If
1006the office denies any part of the requested credit, the office
1007must inform the applicant of the grounds for the denial. A copy
1008of the certification shall be submitted to the department within
100910 days after the executive director's approval.
1010     (6)  TRANSFERABILITY OF CREDIT.-
1011     (a)  A certified spaceflight business allowed to transfer
1012an approved credit, in whole or in part, to a taxpayer by
1013written agreement may do so without transferring any ownership
1014interest in the property generating the credit or any interest
1015in the entity owning such property.
1016     (b)  In order to perfect the transfer, the transferor shall
1017provide the department with a written transfer statement that
1018has been approved by the office notifying the department of the
1019transferor's intent to transfer the tax credits to the
1020transferee; the date that the transfer is effective; the
1021transferee's name, address, and federal taxpayer identification
1022number; the tax period; and the amount of tax credits to be
1023transferred. Upon receipt of the approved transfer statement,
1024the department shall provide the transferee and the office with
1025a certificate reflecting the tax credit amounts transferred. A
1026copy of the certificate must be attached to each tax return for
1027which the transferee seeks to apply the credits.
1028     (7)  AUDIT AUTHORITY; RECAPTURE OF CREDITS.-
1029     (a)  In addition to its existing audit and investigative
1030authority, the department may perform any additional financial
1031and technical audits and investigations, including examining the
1032accounts, books, and financial records of the tax credit
1033applicant, which are necessary for verifying the accuracy of the
1034return and to ensure compliance with this section. If requested
1035by the department, the office and Space Florida must provide
1036technical assistance for any technical audits or examinations
1037performed under this subsection.
1038     (b)  Grounds for forfeiture of previously claimed tax
1039credits approved under this section exist if the department
1040determines, as a result of an audit or examination, or from
1041information received from the office, that a certified
1042spaceflight business, or in the case of transferred tax credits,
1043a taxpayer received tax credits for which the certified
1044spaceflight business or taxpayer was not entitled. The
1045spaceflight business or transferee must file an amended return
1046reflecting the disallowed credits and paying any tax due as a
1047result of the amendment.
1048     (c)  If an amendment to, recomputation of, or
1049redetermination of a certified spaceflight business's Florida
1050corporate income tax return changes an item entered into the
1051computation of a claimed credit, the taxpayer must notify the
1052department by filing an amended return. The amount of any credit
1053award not supported by the amended return shall be deemed a
1054deficiency that must be remitted with the amended return and is
1055subject to s. 220.23. The spaceflight business is also liable
1056for a penalty equal to the credit claimed or transferred,
1057reduced in proportion to the amount of the net operating loss
1058certified for transfer which is disallowed over the amount of
1059the net operating loss certified for the credit. The certified
1060business and its successors must maintain all records necessary
1061to support the reported net operating loss.
1062     (d)  The office may revoke or modify a certification
1063granting eligibility for tax credits if it finds that the
1064certified spaceflight business made a false statement or
1065representation in any application, record, report, plan, or
1066other document filed in an attempt to receive tax credits under
1067this section. The office shall immediately notify the department
1068of any revoked or modified orders affecting previously granted
1069tax credits. The certified spaceflight business must also notify
1070the department of any change in its claimed tax credit.
1071     (e)  The certified spaceflight business must file with the
1072department an amended return or other report required by the
1073department by rule and pay any required tax and interest within
107460 days after the certified business receives notification from
1075the office that previously approved tax credits have been
1076revoked or modified. If the revocation or modification order is
1077contested, the spaceflight business must file the amended return
1078or other report within 60 days after a final order is issued.
1079     (f)  The department may assess an additional tax, penalty,
1080or interest pursuant to s. 95.091.
1081     (8)  RULES.-
1082     (a)  The office, in consultation with Space Florida, shall
1083adopt rules to administer this section, including rules relating
1084to application forms for credit approval and certification, and
1085the application and certification procedures, guidelines, and
1086requirements necessary to administer this section.
1087     (b)  The department may adopt rules to administer this
1088section, including rules relating to:
1089     1.  The forms required to claim a tax credit under this
1090section, the requirements and basis for establishing an
1091entitlement to a credit, and the examination and audit
1092procedures required to administer this section.
1093     2.  The implementation and administration of provisions
1094allowing the transfer of a net operating loss as a tax credit,
1095including rules that prescribe forms, reporting requirements,
1096and specific procedures, guidelines, and requirements necessary
1097to perform the transfer.
1098     3.  The minimum portion of the credit which is available
1099for transfer.
1100     (9)  ANNUAL REPORT.-Beginning in 2014, the office, in
1101cooperation with Space Florida and the department, shall submit
1102an annual report summarizing activities relating to the Florida
1103Space Business Incentives Act established under this section to
1104the Governor, the President of the Senate, and the Speaker of
1105the House of Representatives by each November 30.
1106     (10)  NONAPPLICABILITY.-This section does not apply to
1107returns filed for any tax period before October 1, 2015.
1108     Section 16.  Effective January 1, 2012, section 220.195,
1109Florida Statutes, is created to read:
1110     220.195  Emergency excise tax credit.-
1111     (1)  Beginning with taxable years ending in 2012, a
1112taxpayer who has earned, but not yet taken, a credit for
1113emergency excise tax paid under former s. 221.02 may take such
1114credit against the tax imposed by this chapter.
1115     (2)  If a credit granted pursuant to this section is not
1116fully used in taxable years ending in 2012 because of
1117insufficient tax liability on the part of the taxpayer, the
1118unused amount may be carried forward for a period not to exceed
11195 years. The carryover credit may be used in a subsequent year
1120when the tax imposed by this chapter for such year exceeds the
1121credit for such year, after applying the other credits and
1122unused credit carryovers in the order provided in s. 220.02(8).
1123     Section 17.  Effective July 1, 2011, and applicable to
1124taxable years beginning on or after January 1, 2012, section
1125220.196, 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
1129enterprise's qualified research expenses in this state allowed
1130under 26 U.S.C. s. 41 for the 4 taxable years preceding the
1131taxable year for which the credit is determined. The qualified
1132research expenses taken into account in computing the base
1133amount shall be determined on a basis consistent with the
1134determination of qualified research expenses for the taxable
1135year.
1136     (b)  "Business enterprise" means any corporation as defined
1137in s. 220.03 which meets the definition of a target industry
1138business as defined in s. 288.106.
1139     (c)  "Qualified research expenses" mean research expenses
1140qualifying for the credit under 26 U.S.C. s. 41 for in-house
1141research expenses incurred in this state or contract research
1142expenses incurred in this state. The term does not include
1143research conducted outside this state or research expenses that
1144do not qualify for a credit under 26 U.S.C. s. 41.
1145     (2)  TAX CREDIT.-Subject to the limitations contained in
1146paragraph (e), a business enterprise is eligible for a credit
1147against the tax imposed by this chapter if the business
1148enterprise has qualified research expenses in this state in the
1149taxable year exceeding the base amount and, for the same taxable
1150year, claims and is allowed a research credit for such qualified
1151research expenses under 26 U.S.C. s. 41.
1152     (a)  The tax credit shall be 10 percent of the excess
1153qualified research expenses over the base amount. However, the
1154maximum tax credit for a business enterprise that has not been
1155in existence for at least 4 taxable years immediately preceding
1156the taxable year is reduced by 25 percent for each taxable year
1157for which the business enterprise, or a predecessor corporation
1158that was a business enterprise, did not exist.
1159     (b)  The credit taken in any taxable year may not exceed 50
1160percent of the business enterprise's remaining net income tax
1161liability under this chapter after all other credits have been
1162applied under s. 220.02(8).
1163     (c)  Any unused credit authorized under this section may be
1164carried forward and claimed by the taxpayer for up to 5 years.
1165     (d)  The combined total amount of tax credits which may be
1166granted to all business enterprises under this section during
1167any calendar year is $9 million. Applications may be filed with
1168the department on or after March 20 for qualified research
1169expenses incurred within the preceding calendar year, and
1170credits shall be granted in the order in which completed
1171applications are received.
1172     (3)  RECALCULATION OF CREDIT AMOUNT.-If the amount of
1173qualified research expenses is reduced as a result of a federal
1174audit or examination, the credit granted pursuant to this
1175section must be recalculated. The taxpayer must file amended
1176returns for all affected years pursuant to s. 220.23(2), and the
1177taxpayer must pay to the department the difference between the
1178initial credit amount taken and the recalculated credit amount
1179with interest.
1180     (4)  RULES.-The department may adopt rules to administer
1181this section, including, but not limited to, rules prescribing
1182forms and application procedures and dates, and may establish
1183guidelines for making an affirmative showing of qualification
1184for a credit and any evidence needed to substantiate a claim for
1185credit under this section.
1186     Section 18.  Effective January 1, 2012, subsection (4) of
1187section 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
1190apply to the notice of federal change required under s. 220.23,
1191and to any tax returns required under chapter 221, relating to
1192the emergency excise tax.
1193     Section 19.  Effective January 1, 2012, section 213.05,
1194Florida Statutes, is amended to read:
1195     213.05  Department of Revenue; control and administration
1196of revenue laws.-The Department of Revenue shall have only those
1197responsibilities for ad valorem taxation specified to the
1198department in chapter 192, taxation, general provisions; chapter
1199193, assessments; chapter 194, administrative and judicial
1200review of property taxes; chapter 195, property assessment
1201administration and finance; chapter 196, exemption; chapter 197,
1202tax collections, sales, and liens; chapter 199, intangible
1203personal property taxes; and chapter 200, determination of
1204millage. The Department of Revenue shall have the responsibility
1205of regulating, controlling, and administering all revenue laws
1206and performing all duties as provided in s. 125.0104, the Local
1207Option Tourist Development Act; s. 125.0108, tourist impact tax;
1208chapter 198, estate taxes; chapter 201, excise tax on documents;
1209chapter 202, communications services tax; chapter 203, gross
1210receipts taxes; chapter 206, motor and other fuel taxes; chapter
1211211, tax on production of oil and gas and severance of solid
1212minerals; chapter 212, tax on sales, use, and other
1213transactions; chapter 220, income tax code; chapter 221,
1214emergency excise tax; ss. 336.021 and 336.025, taxes on motor
1215fuel and special fuel; s. 376.11, pollutant spill prevention and
1216control; s. 403.718, waste tire fees; s. 403.7185, lead-acid
1217battery fees; s. 538.09, registration of secondhand dealers; s.
1218538.25, registration of secondary metals recyclers; s. 624.4621,
1219group self-insurer's fund premium tax; s. 624.5091, retaliatory
1220tax; s. 624.475, commercial self-insurance fund premium tax; ss.
1221624.509-624.511, insurance code: administration and general
1222provisions; s. 624.515, State Fire Marshal regulatory
1223assessment; s. 627.357, medical malpractice self-insurance
1224premium tax; s. 629.5011, reciprocal insurers premium tax; and
1225s. 681.117, motor vehicle warranty enforcement.
1226     Section 20.  Paragraph (dd) is added to subsection (8) of
1227section 213.053, Florida Statutes, as amended by chapter 2010-
1228280, Laws of Florida, and effective January 1, 2012, subsection
1229(1) and paragraph (k) of subsection (8) of that section are
1230amended, 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
1236funds;
1237     (d)  Chapter 185, municipal police officers' retirement
1238trust 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
1243Simplification Law;
1244     (i)  Chapter 203, gross receipts taxes;
1245     (j)  Chapter 211, tax on severance and production of
1246minerals;
1247     (k)  Chapter 212, tax on sales, use, and other
1248transactions;
1249     (l)  Chapter 220, income tax code;
1250     (m)  Chapter 221, emergency excise tax;
1251     (m)(n)  Section 252.372, emergency management,
1252preparedness, and assistance surcharge;
1253     (n)(o)  Section 379.362(3), Apalachicola Bay oyster
1254surcharge;
1255     (o)(p)  Chapter 376, pollutant spill prevention and
1256control;
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
1261recyclers;
1262     (t)(u)  Sections 624.501 and 624.509-624.515, insurance
1263code;
1264     (u)(v)  Section 681.117, motor vehicle warranty
1265enforcement; and
1266     (v)(w)  Section 896.102, reports of financial transactions
1267in trade or business.
1268     (8)  Notwithstanding any other provision of this section,
1269the department may provide:
1270     (k)1.  Payment information relative to chapters 199, 201,
1271202, 212, 220, 221, and 624 and former chapter 221 to the Office
1272of Tourism, Trade, and Economic Development, or its employees or
1273agents that are identified in writing by the office to the
1274department, in the administration of the tax refund program for
1275qualified defense contractors and space flight business
1276contractors authorized by s. 288.1045 and the tax refund program
1277for qualified target industry businesses authorized by s.
1278288.106.
1279     2.  Information relative to tax credits taken by a business
1280under s. 220.191 and exemptions or tax refunds received by a
1281business under s. 212.08(5)(j) to the Office of Tourism, Trade,
1282and Economic Development, or its employees or agents that are
1283identified in writing by the office to the department, in the
1284administration and evaluation of the capital investment tax
1285credit program authorized in s. 220.191 and the semiconductor,
1286defense, and space tax exemption program authorized in s.
1287212.08(5)(j).
1288     3.  Information relative to tax credits taken by a taxpayer
1289pursuant to the tax credit programs created in ss. 193.017;
1290212.08(5)(g),(h),(n),(o) and (p); 212.08(15); 212.096; 212.097;
1291212.098; 220.181; 220.182; 220.183; 220.184; 220.1845; 220.185;
1292220.1895; 220.19; 220.191; 220.192; 220.193; 288.0656; 288.99;
1293290.007; 376.30781; 420.5093; 420.5099; 550.0951; 550.26352;
1294550.2704; 601.155; 624.509; 624.510; 624.5105; and 624.5107 to
1295the Office of Tourism, Trade, and Economic Development, or its
1296employees or agents that are identified in writing by the office
1297to the department, for use in the administration or evaluation
1298of such programs.
1299     4.  Information relative to single sales factor
1300apportionment used by a taxpayer to the Office of Tourism,
1301Trade, and Economic Development or its employees or agents who
1302are identified in writing by the office to the department for
1303use by the office to administer s. 220.153.
1304     (dd)  Information relating to tax credits taken under s.
1305220.194 to the Office of Tourism, Trade, and Economic
1306Development or to Space Florida.
1307
1308Disclosure of information under this subsection shall be
1309pursuant to a written agreement between the executive director
1310and the agency. Such agencies, governmental or nongovernmental,
1311shall be bound by the same requirements of confidentiality as
1312the Department of Revenue. Breach of confidentiality is a
1313misdemeanor of the first degree, punishable as provided by s.
1314775.082 or s. 775.083.
1315     Section 21.  Effective January 1, 2012, subsection (12) of
1316section 213.255, Florida Statutes, is amended to read:
1317     213.255  Interest.-Interest shall be paid on overpayments
1318of taxes, payment of taxes not due, or taxes paid in error,
1319subject to the following conditions:
1320     (12)  The rate of interest shall be the adjusted rate
1321established pursuant to s. 213.235, except that the annual rate
1322of interest shall never be greater than 11 percent. This annual
1323rate of interest shall be applied to all refunds of taxes
1324administered by the department except for corporate income taxes
1325and emergency excise taxes governed by ss. 220.721 and 220.723.
1326     Section 22.  Effective January 1, 2012, chapter 221,
1327Florida Statutes, consisting of sections 221.01, 221.02, 221.04,
1328and 221.05, is repealed.
1329     Section 23.  Effective January 1, 2012, paragraph (a) of
1330subsection (6) of section 288.075, Florida Statutes, is amended
1331to read:
1332     288.075  Confidentiality of records.-
1333     (6)  ECONOMIC INCENTIVE PROGRAMS.-
1334     (a)  The following information held by an economic
1335development agency pursuant to the administration of an economic
1336incentive program for qualified businesses is confidential and
1337exempt from s. 119.07(1) and s. 24(a), Art. I of the State
1338Constitution for a period not to exceed the duration of the
1339incentive agreement, including an agreement authorizing a tax
1340refund or tax credit, or upon termination of the incentive
1341agreement:
1342     1.  The percentage of the business's sales occurring
1343outside this state and, for businesses applying under s.
1344288.1045, the percentage of the business's gross receipts
1345derived from Department of Defense contracts during the 5 years
1346immediately preceding the date the business's application is
1347submitted.
1348     2.  The anticipated wages for the project jobs that the
1349business plans to create, as reported on the application for
1350certification.
1351     3.  The average wage actually paid by the business for
1352those jobs created by the project or an employee's personal
1353identifying information which is held as evidence of the
1354achievement or nonachievement of the wage requirements of the
1355tax refund, tax credit, or incentive agreement programs or of
1356the job creation requirements of such programs.
1357     4.  The amount of:
1358     a.  Taxes on sales, use, and other transactions paid
1359pursuant to chapter 212;
1360     b.  Corporate income taxes paid pursuant to chapter 220;
1361     c.  Intangible personal property taxes paid pursuant to
1362chapter 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
1366201;
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
1369chapter 202.
1370     Section 24.  Paragraph (c) of subsection (2) of section
1371288.1045, Florida Statutes, and effective January 1, 2012,
1372paragraph (f) of that subsection, are amended to read:
1373     288.1045  Qualified defense contractor and space flight
1374business tax refund program.-
1375     (2)  GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.-
1376     (c)  A qualified applicant may not receive more than $7 $5
1377million in tax refunds pursuant to this section in all fiscal
1378years.
1379     (f)  After entering into a tax refund agreement pursuant to
1380subsection (4), a qualified applicant may:
1381     1.  Receive refunds from the account for corporate income
1382taxes due and paid pursuant to chapter 220 by that business
1383beginning with the first taxable year of the business which
1384begins after entering into the agreement.
1385     2.  Receive refunds from the account for the following
1386taxes due and paid by that business after entering into the
1387agreement:
1388     a.  Taxes on sales, use, and other transactions paid
1389pursuant to chapter 212.
1390     b.  Intangible personal property taxes paid pursuant to
1391chapter 199.
1392     c.  Emergency excise taxes paid pursuant to chapter 221.
1393     c.d.  Excise taxes paid on documents pursuant to chapter
1394201.
1395     d.e.  Ad valorem taxes paid, as defined in s. 220.03(1)(a)
1396on June 1, 1996.
1397     e.f.  State communications services taxes administered
1398under chapter 202. This provision does not apply to the gross
1399receipts tax imposed under chapter 203 and administered under
1400chapter 202 or the local communications services tax authorized
1401under s. 202.19.
1402
1403However, a qualified applicant may not receive a tax refund
1404pursuant to this section for any amount of credit, refund, or
1405exemption granted such contractor for any of such taxes. If a
1406refund for such taxes is provided by the office, which taxes are
1407subsequently adjusted by the application of any credit, refund,
1408or exemption granted to the qualified applicant other than that
1409provided in this section, the qualified applicant shall
1410reimburse the Economic Development Trust Fund for the amount of
1411such credit, refund, or exemption. A qualified applicant must
1412notify and tender payment to the office within 20 days after
1413receiving a credit, refund, or exemption, other than that
1414provided in this section. The addition of communications
1415services taxes administered under chapter 202 is remedial in
1416nature and retroactive to October 1, 2001. The office may make
1417supplemental tax refund payments to allow for tax refunds for
1418communications services taxes paid by an eligible qualified
1419defense contractor after October 1, 2001.
1420     Section 25.  Paragraph (c) of subsection (3) of section
1421288.106, Florida Statutes, and effective January 1, 2012,
1422paragraph (d) of that subsection, are amended to read:
1423     288.106  Tax refund program for qualified target industry
1424businesses.-
1425     (3)  TAX REFUND; ELIGIBLE AMOUNTS.-
1426     (c)  A qualified target industry business may not receive
1427refund payments of more than 25 percent of the total tax refunds
1428specified in the tax refund agreement under subparagraph
1429(5)(a)1. in any fiscal year. Further, a qualified target
1430industry business may not receive more than $1.5 million in
1431refunds under this section in any single fiscal year, or more
1432than $2.5 million in any single fiscal year if the project is
1433located in an enterprise zone. A qualified target industry
1434business may not receive more than $7 $5 million in refund
1435payments 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
1438subsection (5), a qualified target industry business may:
1439     1.  Receive refunds from the account for the following
1440taxes due and paid by that business beginning with the first
1441taxable year of the business that begins after entering into the
1442agreement:
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
1446taxes due and paid by that business after entering into the
1447agreement:
1448     a.  Taxes on sales, use, and other transactions under
1449chapter 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
1455under chapter 202. This provision does not apply to the gross
1456receipts tax imposed under chapter 203 and administered under
1457chapter 202 or the local communications services tax authorized
1458under 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
1461subsection (4), paragraph (c) of subsection (5), paragraph (a)
1462of subsection (7), and subsection (10) of section 288.1254,
1463Florida Statutes, are amended, and paragraphs (k), (l), (m),
1464(n), and (o) are added to subsection (1) of that section, to
1465read:
1466     288.1254  Entertainment industry financial incentive
1467program.-
1468     (1)  DEFINITIONS.-As used in this section, the term:
1469     (b)  "Digital media project" means a production of
1470interactive entertainment that is produced for distribution in
1471commercial or educational markets. The term includes a video
1472game or production intended for Internet or wireless
1473distribution. The term does not include a production that
1474contains deemed by the Office of Film and Entertainment to
1475contain obscene content as defined in s. 847.001(10).
1476     (f)  "Production" means a theatrical or direct-to-video
1477motion picture; a made-for-television motion picture; visual
1478effects or digital animation sequences produced in conjunction
1479with a motion picture; a commercial; a music video; an
1480industrial or educational film; an infomercial; a documentary
1481film; a television pilot program; a presentation for a
1482television pilot program; a television series, including, but
1483not limited to, a drama, a reality show, a comedy, a soap opera,
1484a telenovela, a game show, an awards show, or a miniseries
1485production; or a digital media project by the entertainment
1486industry. One season of a television series is considered one
1487production. The term does not include a weather or market
1488program; a sporting event; a sports show; a gala; a production
1489that solicits funds; a home shopping program; a political
1490program; a political documentary; political advertising; a
1491gambling-related project or production; a concert production; or
1492a local, regional, or Internet-distributed-only news show,
1493current-events show, pornographic production, or current-affairs
1494show. A production may be produced on or by film, tape, or
1495otherwise by means of a motion picture camera; electronic camera
1496or device; tape device; computer; any combination of the
1497foregoing; or any other means, method, or device.
1498     (h)  "Qualified expenditures" means production expenditures
1499incurred in this state by a qualified production for:
1500     1.  Goods purchased or leased from, or services, including,
1501but not limited to, insurance costs and bonding, payroll
1502services, and legal fees, which are provided by, a vendor or
1503supplier in this state that is registered with the Department of
1504State or the Department of Revenue, has a physical location in
1505this state, and employs one or more legal residents of this
1506state. This does not include re-billed goods or services
1507provided by an in-state company from out-of-state vendors or
1508suppliers. When services are provided by the vendor or supplier
1509include personal services or labor, only personal services or
1510labor provided by residents of this state, evidenced by the
1511required documentation of residency in this state, qualify.
1512     2.  Payments to legal residents of this state in the form
1513of 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
1516accompany the documentation submitted to the office for
1517reimbursement.
1518
1519For a qualified production involving an event, such as an awards
1520show, the term does not include expenditures solely associated
1521with the event itself and not directly required by the
1522production. The term does not include expenditures incurred
1523before certification, with the exception of those incurred for a
1524commercial, a music video, or the pickup of additional episodes
1525of a high-impact television series within a single season. Under
1526no circumstances may the qualified production include in the
1527calculation for qualified expenditures the original purchase
1528price for equipment or other tangible property that is later
1529sold or transferred by the qualified production for
1530consideration. In such cases, the qualified expenditure is the
1531net of the original purchase price minus the consideration
1532received upon sale or transfer.
1533     (i)  "Qualified production" means a production in this
1534state meeting the requirements of this section. The term does
1535not include a production:
1536     1.  In which, for the first 2 years of the incentive
1537program, less than 50 percent, and thereafter, less than 60
1538percent, of the positions that make up its production cast and
1539below-the-line production crew, or, in the case of digital media
1540projects, less than 75 percent of such positions, are filled by
1541legal residents of this state, whose residency is demonstrated
1542by a valid Florida driver's license or other state-issued
1543identification confirming residency, or students enrolled full-
1544time in a film-and-entertainment-related course of study at an
1545institution of higher education in this state; or
1546     2.  That contains is deemed by the Office of Film and
1547Entertainment to contain obscene content as defined in s.
1548847.001(10).
1549     (k)  "Qualified digital media production facility" means a
1550building or series of buildings and their improvements in which
1551data processing, visualization, and sound synchronization
1552technologies are regularly applied for the production of
1553qualified digital media projects or the digital animation
1554components of qualified productions.
1555     (l)  "Qualified production facility" means a building or
1556complex of buildings and their improvements and associated
1557backlot facilities in which regular filming activity for film or
1558television has occurred for a period of no less than one year
1559and which contain at least one sound stage of at least 7,800
1560square feet.
1561     (m)  "Regional population ratio" means the ratio of the
1562population of a region to the population of this state. The
1563regional population ratio applicable to a given fiscal year is
1564the regional population ratio calculated by the Office of Film
1565and Entertainment using the latest official estimates of
1566population certified under s. 186.901, available on the first
1567day of that fiscal year.
1568     (n)  "Regional tax credit ratio" means a ratio the
1569numerator of which is the sum of tax credits awarded to
1570productions in a region to date plus the tax credits certified,
1571but not yet awarded, to productions currently in that region and
1572the denominator of which is the sum of all tax credits awarded
1573in the state to date plus all tax credits certified, but not yet
1574awarded, to productions currently in the state. The regional tax
1575credit ratio applicable to a given year is the regional tax
1576credit ratio calculated by the Office of Film and Entertainment
1577using credit award and certification information available on
1578the first day of that fiscal year.
1579     (o)  "Underutilized region" for a given state fiscal year
1580means a region with a regional tax credit ratio applicable to
1581that fiscal year that is lower than its regional population
1582ratio applicable to that fiscal year. The following regions are
1583established for purposes of making this determination:
1584     1.  North Region, consisting of Alachua, Baker, Bay,
1585Bradford, Calhoun, Clay, Columbia, Dixie, Duval, Escambia,
1586Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Holmes, Jackson,
1587Jefferson, Lafayette, Leon, Levy, Liberty, Madison, Nassau,
1588Okaloosa, Putnam, Santa Rosa, St. Johns, Suwannee, Taylor,
1589Union, Wakulla, Walton, and Washington counties.
1590     2.  Central East Region, consisting of Brevard, Flagler,
1591Indian River, Lake, Okeechobee, Orange, Osceola, Seminole, St.
1592Lucie, and Volusia counties.
1593     3.  Central West Region, consisting of Citrus, Hernando,
1594Hillsborough, Manatee, Marion, Polk, Pasco, Pinellas, Sarasota,
1595and Sumter counties.
1596     4.  Southwest Region, consisting of Charlotte, Collier,
1597DeSoto, Glades, Hardee, Hendry, Highlands, and Lee counties.
1598     5.  Southeast Region, consisting of Broward, Martin, Miami-
1599Dade, Monroe, and Palm Beach counties.
1600     (3)  APPLICATION PROCEDURE; APPROVAL PROCESS.-
1601     (c)  Application process.-The Office of Film and
1602Entertainment shall establish a process by which an application
1603is accepted and reviewed and by which tax credit eligibility and
1604award amount are determined. The Office of Film and
1605Entertainment may request assistance from a duly appointed local
1606film commission in determining compliance with this section. A
1607certified high-impact television series may submit an initial
1608application for no more than two successive seasons,
1609notwithstanding the fact that the successive seasons have not
1610been ordered. The successive season's qualified expenditure
1611amounts shall be based on the current season's estimated
1612qualified expenditures. Upon the completion of production of
1613each season, a high-impact television series may submit an
1614application for no more than one additional season.
1615     (e)  Grounds for denial.-The Office of Film and
1616Entertainment shall deny an application if it determines that
1617the application is not complete or the production or application
1618does not meet the requirements of this section. Within 90 days
1619after submitting a program application, except with respect to
1620applications in the independent and emerging media queue, a
1621production must provide proof of project financing to the Office
1622of Film and Entertainment, otherwise the project is deemed
1623denied and withdrawn. A project that has been withdrawn may
1624submit a new application upon providing the Office of Film and
1625Entertainment proof of financing.
1626     (4)  TAX CREDIT ELIGIBILITY; TAX CREDIT AWARDS; QUEUES;
1627ELECTION AND DISTRIBUTION; CARRYFORWARD; CONSOLIDATED RETURNS;
1628PARTNERSHIP AND NONCORPORATE DISTRIBUTIONS; MERGERS AND
1629ACQUISITIONS.-
1630     (b)  Tax credit eligibility.-
1631     1.  General production queue.-Ninety-four percent of tax
1632credits authorized pursuant to subsection (6) in any state
1633fiscal year must be dedicated to the general production queue.
1634The general production queue consists of all qualified
1635productions other than those eligible for the commercial and
1636music video queue or the independent and emerging media
1637production queue. A qualified production that demonstrates a
1638minimum of $625,000 in qualified expenditures is eligible for
1639tax credits equal to 20 percent of its actual qualified
1640expenditures, up to a maximum of $8 million. A qualified
1641production that incurs qualified expenditures during multiple
1642state 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
1645film, independent film, or television series or pilot is
1646eligible for an additional 5-percent tax credit on actual
1647qualified expenditures. An off-season certified production that
1648does not complete 75 percent of principal photography due to a
1649disruption caused by a hurricane or tropical storm may not be
1650disqualified from eligibility for the additional 5-percent
1651credit as a result of the disruption.
1652     b.  If more than 25 percent of the sum of total tax credits
1653awarded to productions after July 1, 2010, and total tax credits
1654certified, but not yet awarded, to productions currently in this
1655state has been awarded for television series, then no television
1656series or pilot shall be eligible for tax credits under this
1657subparagraph.
1658     c.  The calculations required by this sub-subparagraph
1659shall use only credits available to be certified and awarded on
1660or after July 1, 2011.
1661     (I)  If the provisions of sub-subparagraph b. are not
1662applicable and less than 25 percent of the sum of the total tax
1663credits awarded to productions and the total tax credits
1664certified, but not yet awarded, to productions currently in this
1665state has been to high-impact television series, any A qualified
1666high-impact television series shall be allowed first position in
1667this queue for tax credit awards not yet certified.
1668     (II)  If less than 20 percent of the sum of the total tax
1669credits awarded to productions and the total tax credits
1670certified, but not yet awarded, to productions currently in this
1671state has been to digital media projects, any digital media
1672project with qualified expenditures of greater than $4,500,000
1673shall be allowed first position in this queue for tax credit
1674awards not yet certified.
1675     (III)  For the purposes of determining position between a
1676high-impact television series allowed first position and a
1677digital media project allowed first position under this sub-
1678subparagraph, tax credits shall be awarded on a first-come,
1679first-served basis.
1680     d.  A qualified production that incurs at least 85 percent
1681of its qualified expenditures within a region designated as an
1682underutilized region at the time that the production is
1683certified is eligible for an additional 5 percent tax credit.
1684     e.  Any qualified production that employs students enrolled
1685full-time in a film and entertainment-related or digital media-
1686related course of study at an institution of higher education in
1687this state is eligible for an additional 15 percent tax credit
1688on qualified expenditures that are wages, salaries, or other
1689compensation paid to such students. The additional 15 percent
1690tax credit shall also be applicable to persons hired within 12
1691months of graduating from a film and entertainment-related or
1692digital media-related course of study at an institution of
1693higher education in this state. The additional 15 percent tax
1694credit shall apply to qualified expenditures that are wages,
1695salaries, or other compensation paid to such recent graduates
1696for one year from the date of hiring.
1697     f.  A qualified production for which 50 percent or more of
1698its principal photography occurs at a qualified production
1699facility, or a qualified digital media project or the digital
1700animation component of a qualified production for which 50
1701percent or more of the project's or component's qualified
1702expenditures are related to a qualified digital media production
1703facility shall be eligible for an additional 5 percent tax
1704credit on actual qualified expenditures for production activity
1705at that facility.
1706     g.  No qualified production shall be eligible for tax
1707credits provided under this paragraph totaling more than 30
1708percent of its actual qualified expenses.
1709     2.  Commercial and music video queue.-Three percent of tax
1710credits authorized pursuant to subsection (6) in any state
1711fiscal year must be dedicated to the commercial and music video
1712queue. A qualified production company that produces national or
1713regional commercials or music videos may be eligible for a tax
1714credit award if it demonstrates a minimum of $100,000 in
1715qualified expenditures per national or regional commercial or
1716music video and exceeds a combined threshold of $500,000 after
1717combining actual qualified expenditures from qualified
1718commercials and music videos during a single state fiscal year.
1719After a qualified production company that produces commercials,
1720music videos, or both reaches the threshold of $500,000, it is
1721eligible to apply for certification for a tax credit award. The
1722maximum credit award shall be equal to 20 percent of its actual
1723qualified expenditures up to a maximum of $500,000. If there is
1724a surplus at the end of a fiscal year after the Office of Film
1725and Entertainment certifies and determines the tax credits for
1726all qualified commercial and video projects, such surplus tax
1727credits shall be carried forward to the following fiscal year
1728and be available to any eligible qualified productions under the
1729general production queue.
1730     3.  Independent and emerging media production queue.-Three
1731percent of tax credits authorized pursuant to subsection (6) in
1732any state fiscal year must be dedicated to the independent and
1733emerging media production queue. This queue is intended to
1734encourage Florida independent film and emerging media
1735production. Any qualified production, excluding commercials,
1736infomercials, or music videos, that demonstrates at least
1737$100,000, but not more than $625,000, in total qualified
1738expenditures is eligible for tax credits equal to 20 percent of
1739its actual qualified expenditures. If a surplus exists at the
1740end of a fiscal year after the Office of Film and Entertainment
1741certifies and determines the tax credits for all qualified
1742independent and emerging media production projects, such surplus
1743tax credits shall be carried forward to the following fiscal
1744year and be available to any eligible qualified productions
1745under the general production queue.
1746     4.  Family-friendly productions.-A certified theatrical or
1747direct-to-video motion picture production or video game
1748determined by the Commissioner of Film and Entertainment, with
1749the advice of the Florida Film and Entertainment Advisory
1750Council, to be family-friendly, based on the review of the
1751script and the review of the final release version, is eligible
1752for an additional tax credit equal to 5 percent of its actual
1753qualified expenditures. Family-friendly productions are those
1754that have cross-generational appeal; would be considered
1755suitable for viewing by children age 5 or older; are appropriate
1756in theme, content, and language for a broad family audience;
1757embody a responsible resolution of issues; and do not exhibit or
1758imply any act of smoking, sex, nudity, or vulgar or profane
1759language.
1760     (5)  TRANSFER OF TAX CREDITS.-
1761     (c)  Transferee rights and limitations.-The transferee is
1762subject to the same rights and limitations as the certified
1763production company awarded the tax credit, except that the
1764initial transferee shall be permitted a one-time transfer of
1765unused credits to no more than two subsequent transferees, and
1766such transfers must occur in the same taxable year as the
1767credits were received by the initial transferee, after which the
1768subsequent transferees may not sell or otherwise transfer the
1769tax credit.
1770     (7)  ANNUAL ALLOCATION OF TAX CREDITS.-
1771     (a)  The aggregate amount of the tax credits that may be
1772certified 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
1778Entertainment shall provide an annual report for the previous
1779fiscal year to the Governor, the President of the Senate, and
1780the Speaker of the House of Representatives which outlines the
1781return on investment and economic benefits to the state. The
1782report shall also include an estimate of the full-time
1783equivalent positions created by each production that received
1784tax credits under s. 288.1254 and information relating to the
1785distribution of productions receiving credits by geographic
1786region and type of production.
1787     Section 27.  Subsection (5) of section 288.1258, Florida
1788Statutes, is amended to read:
1789     288.1258  Entertainment industry qualified production
1790companies; application procedure; categories; duties of the
1791Department of Revenue; records and reports.-
1792     (5)  RELATIONSHIP OF TAX EXEMPTIONS AND INCENTIVES TO
1793INDUSTRY GROWTH; REPORT TO THE LEGISLATURE.-The Office of Film
1794and Entertainment shall keep annual records from the information
1795provided on taxpayer applications for tax exemption certificates
1796beginning January 1, 2001. These records shall reflect a ratio
1797of the annual amount of sales and use tax exemptions under this
1798section and incentives awarded pursuant to s. 288.1254 to the
1799estimated amount of funds expended by certified productions,
1800including productions that received incentives pursuant to s.
1801288.1254. These records also shall reflect a separate ratio of
1802the annual amount of sales and use tax exemptions under this
1803section, plus the incentives awarded pursuant to s. 288.1254 to
1804the estimated amount of funds expended by certified productions.
1805In addition, the office shall maintain data showing annual
1806growth in Florida-based entertainment industry companies and
1807entertainment industry employment and wages. The employment
1808information shall include an estimate of the full-time
1809equivalent positions created by each production that received
1810tax credits pursuant to s. 288.1254. The Office of Film and
1811Entertainment shall report this information to the Legislature
1812no later than December 1 of each year.
1813     Section 28.  Effective January 1, 2012, paragraph (d) is
1814added to subsection (6) of section 290.0055, Florida Statutes,
1815to read:
1816     290.0055  Local nominating procedure.-
1817     (6)
1818     (d)1.  The governing body of a jurisdiction which has
1819nominated an application for an enterprise zone that is no
1820larger than 12 square miles and includes a portion of the state
1821designated as a rural area of critical economic concern under s.
1822288.0656(7) may apply to the Office of Tourism, Trade, and
1823Economic Development to expand the boundary of the enterprise
1824zone by not more than 3 square miles. An application to expand
1825the boundary of an enterprise zone under this paragraph must be
1826submitted by December 31, 2012.
1827     2.  Notwithstanding the area limitations specified in
1828subsection (4), the Office of Tourism, Trade, and Economic
1829Development may approve the request for a boundary amendment if
1830the area continues to satisfy the remaining requirements of this
1831section.
1832     3.  The Office of Tourism, Trade, and Economic Development
1833shall establish the initial effective date of an enterprise zone
1834designated under this paragraph.
1835     Section 29.  Effective January 1, 2012, section 290.00726,
1836Florida Statutes, is created to read:
1837     290.00726  Enterprise zone designation for Martin County.-
1838Martin County may apply to the Office of Tourism, Trade, and
1839Economic Development for designation of one enterprise zone for
1840an area within Martin County, which zone shall encompass an area
1841of up to 10 square miles consisting of land within the primary
1842urban services boundary and focusing on Indiantown, but
1843excluding property owned by Florida Power and Light to the west,
1844two areas to the north designated as estate residential, and the
1845county-owned Timer Powers Recreational Area. Within the
1846designated enterprise zone, Martin County shall exempt
1847residential condominiums from benefiting from state enterprise
1848zone incentives, unless prohibited by law. The application must
1849have been submitted by December 31, 2011, and must comply with
1850the requirements of s. 290.0055. Notwithstanding s. 290.0065
1851limiting the total number of enterprise zones designated and the
1852number of enterprise zones within a population category, the
1853Office of Tourism, Trade, and Economic Development may designate
1854one enterprise zone under this section. The Office of Tourism,
1855Trade, and Economic Development shall establish the initial
1856effective date of the enterprise zone designated under this
1857section.
1858     Section 30.  Section 290.00727, Florida Statutes, is
1859created to read:
1860     290.00727  Enterprise zone designation for the City of Palm
1861Bay.-The City of Palm Bay may apply to the Office of Tourism,
1862Trade, and Economic Development for designation of one
1863enterprise zone for an area within the northeast portion of the
1864city, which zone shall encompass an area of up to 5 square
1865miles. The application must have been submitted by December 31,
18662011, and must comply with the requirements of s. 290.0055.
1867Notwithstanding s. 290.0065 limiting the total number of
1868enterprise zones designated and the number of enterprise zones
1869within a population category, the Office of Tourism, Trade, and
1870Economic Development may designate one enterprise zone under
1871this section. The Office of Tourism, Trade, and Economic
1872Development shall establish the initial effective date of the
1873enterprise zone designated under this section.
1874     Section 31.  Section 290.00728, Florida Statutes, is
1875created to read:
1876     290.00728  Enterprise zone designation for Lake County.-
1877Lake County may apply to the Office of Tourism, Trade, and
1878Economic Development for designation of one enterprise zone,
1879which zone shall encompass an area of up to 10 square miles
1880within Lake County. The application must have been submitted by
1881December 31, 2011, and must comply with the requirements of s.
1882290.0055. Notwithstanding s. 290.0065 limiting the total number
1883of enterprise zones designated and the number of enterprise
1884zones within a population category, the Office of Tourism,
1885Trade, and Economic Development may designate one enterprise
1886zone under this section. The Office of Tourism, Trade, and
1887Economic Development shall establish the initial effective date
1888of the enterprise zone designated under this section.
1889     Section 32.  Effective January 1, 2012, subsection (1) of
1890section 334.30, Florida Statutes, is amended to read:
1891     334.30  Public-private transportation facilities.-The
1892Legislature finds and declares that there is a public need for
1893the rapid construction of safe and efficient transportation
1894facilities for the purpose of traveling within the state, and
1895that it is in the public's interest to provide for the
1896construction of additional safe, convenient, and economical
1897transportation facilities.
1898     (1)  The department may receive or solicit proposals and,
1899with legislative approval as evidenced by approval of the
1900project in the department's work program, enter into agreements
1901with private entities, or consortia thereof, for the building,
1902operation, ownership, or financing of transportation facilities.
1903The department may advance projects programmed in the adopted 5-
1904year work program or projects increasing transportation capacity
1905and greater than $500 million in the 10-year Strategic
1906Intermodal Plan using funds provided by public-private
1907partnerships or private entities to be reimbursed from
1908department funds for the project as programmed in the adopted
1909work program. The department shall by rule establish an
1910application fee for the submission of unsolicited proposals
1911under this section. The fee must be sufficient to pay the costs
1912of evaluating the proposals. The department may engage the
1913services of private consultants to assist in the evaluation.
1914Before approval, the department must determine that the proposed
1915project:
1916     (a)  Is in the public's best interest;
1917     (b)  Would not require state funds to be used unless the
1918project is on the State Highway System;
1919     (c)  Would have adequate safeguards in place to ensure that
1920no additional costs or service disruptions would be realized by
1921the traveling public and residents of the state in the event of
1922default or cancellation of the agreement by the department;
1923     (d)  Would have adequate safeguards in place to ensure that
1924the department or the private entity has the opportunity to add
1925capacity to the proposed project and other transportation
1926facilities serving similar origins and destinations; and
1927     (e)  Would be owned by the department upon completion or
1928termination of the agreement.
1929
1930The department shall ensure that all reasonable costs to the
1931state, related to transportation facilities that are not part of
1932the State Highway System, are borne by the private entity. The
1933department shall also ensure that all reasonable costs to the
1934state and substantially affected local governments and
1935utilities, related to the private transportation facility, are
1936borne by the private entity for transportation facilities that
1937are owned by private entities. For projects on the State Highway
1938System, the department may use state resources to participate in
1939funding and financing the project as provided for under the
1940department's enabling legislation. Because the Legislature
1941recognizes that private entities or consortia thereof would
1942perform a governmental or public purpose or function when they
1943enter into agreements with the department to design, build,
1944operate, own, or finance transportation facilities, the
1945transportation facilities, including leasehold interests
1946thereof, are exempt from ad valorem taxes as provided in chapter
1947196 to the extent property is owned by the state or other
1948government entity, and from intangible taxes as provided in
1949chapter 199 and special assessments of the state, any city,
1950town, county, special district, political subdivision of the
1951state, or any other governmental entity. The private entities or
1952consortia thereof are exempt from tax imposed by chapter 201 on
1953all documents or obligations to pay money which arise out of the
1954agreements to design, build, operate, own, lease, or finance
1955transportation facilities. Any private entities or consortia
1956thereof must pay any applicable corporate taxes as provided in
1957chapter chapters 220 and 221, and unemployment compensation
1958taxes as provided in chapter 443, and sales and use tax as
1959provided in chapter 212 shall be applicable. The private
1960entities or consortia thereof must also register and collect the
1961tax imposed by chapter 212 on all their direct sales and leases
1962that are subject to tax under chapter 212. The agreement between
1963the private entity or consortia thereof and the department
1964establishing a transportation facility under this chapter
1965constitutes documentation sufficient to claim any exemption
1966under this section.
1967     Section 33.  Effective January 1, 2012, subsection (4),
1968paragraph (a) of subsection (6), and subsection (7) of section
1969624.509, 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
1972emergency excise tax imposed under chapter 221 which is are paid
1973by any insurer shall be credited against, and to the extent
1974thereof shall discharge, the liability for tax imposed by this
1975section for the annual period in which such tax payments are
1976made. As to any insurer issuing policies insuring against loss
1977or damage from the risks of fire, tornado, and certain casualty
1978lines, the tax imposed by this section, as intended and
1979contemplated by this subsection, shall be construed to mean the
1980net amount of such tax remaining after there has been credited
1981thereon such gross premium receipts tax as may be payable by
1982such insurer in pursuance of the imposition of such tax by any
1983incorporated cities or towns in the state for firefighters'
1984relief and pension funds and police officers' retirement funds
1985maintained in such cities or towns, as provided in and by
1986relevant provisions of the Florida Statutes. For purposes of
1987this subsection, payments of estimated income tax under chapter
1988220 and of estimated emergency excise tax under chapter 221
1989shall be deemed paid either at the time the insurer actually
1990files its annual returns under chapter 220 or at the time such
1991returns are required to be filed, whichever first occurs, and
1992not at such earlier time as such payments of estimated tax are
1993actually made.
1994     (6)(a)  The total of the credit granted for the taxes paid
1995by the insurer under chapter chapters 220 and 221 and the credit
1996granted by subsection (5) may shall not exceed 65 percent of the
1997tax due under subsection (1) after deducting therefrom the taxes
1998paid by the insurer under ss. 175.101 and 185.08 and any
1999assessments pursuant to s. 440.51.
2000     (7)  Credits and deductions against the tax imposed by this
2001section shall be taken in the following order: deductions for
2002assessments made pursuant to s. 440.51; credits for taxes paid
2003under ss. 175.101 and 185.08; credits for income taxes paid
2004under chapter 220, the emergency excise tax paid under chapter
2005221 and the credit allowed under subsection (5), as these
2006credits are limited by subsection (6); all other available
2007credits and deductions.
2008     Section 34.  Effective January 1, 2012, subsection (1) of
2009section 624.51055, Florida Statutes, is amended to read:
2010     624.51055  Credit for contributions to eligible nonprofit
2011scholarship-funding organizations.-
2012     (1)  There is allowed a credit of 100 percent of an
2013eligible contribution made to an eligible nonprofit scholarship-
2014funding organization under s. 1002.395 against any tax due for a
2015taxable year under s. 624.509(1). However, such a credit may not
2016exceed 75 percent of the tax due under s. 624.509(1) after
2017deducting from such tax deductions for assessments made pursuant
2018to s. 440.51; credits for taxes paid under ss. 175.101 and
2019185.08; credits for income taxes paid under chapter 220; credits
2020for the emergency excise tax paid under chapter 221; and the
2021credit allowed under s. 624.509(5), as such credit is limited by
2022s. 624.509(6). An insurer claiming a credit against premium tax
2023liability under this section shall not be required to pay any
2024additional retaliatory tax levied pursuant to s. 624.5091 as a
2025result of claiming such credit. Section 624.5091 does not limit
2026such credit in any manner.
2027     Section 35.  (1)  The executive director of the Department
2028of Revenue is authorized, and all conditions are deemed met, to
2029adopt emergency rules under ss. 120.536(1) and 120.54(4),
2030Florida Statutes, for the purpose of implementing this act.
2031     (2)  Notwithstanding any other provision of law, such
2032emergency rules shall remain in effect for 6 months after the
2033date adopted and may be renewed during the pendency of
2034procedures to adopt permanent rules addressing the subject of
2035the emergency rules.
2036     Section 36.  (1)  The tax levied under chapter 212, Florida
2037Statutes, may not be collected during the period from 12:01 a.m.
2038on August 12, 2011, through 11:59 p.m. on August 14, 2011, on
2039the sale of:
2040     (a)  Clothing, wallets, or bags, including handbags,
2041backpacks, fanny packs, and diaper bags, but excluding
2042briefcases, suitcases, and other garment bags, having a sales
2043price of $75 or less per item. As used in this paragraph, the
2044term "clothing" means:
2045     1.  Any article of wearing apparel intended to be worn on
2046or about the human body, excluding watches, watchbands, jewelry,
2047umbrellas, or handkerchiefs; and
2048     2.  All footwear, excluding skis, swim fins, roller blades,
2049and skates.
2050     (b)  School supplies having a sales price of $15 or less
2051per item. As used in this paragraph, the term "school supplies"
2052means pens, pencils, erasers, crayons, notebooks, notebook
2053filler paper, legal pads, binders, lunch boxes, construction
2054paper, markers, folders, poster board, composition books, poster
2055paper, scissors, cellophane tape, glue or paste, rulers,
2056computer disks, protractors, compasses, and calculators.
2057     (2)  The tax exemptions in this section do not apply to
2058sales within a theme park or entertainment complex as defined in
2059s. 509.013(9), Florida Statutes, a public lodging establishment
2060as defined in s. 509.013(4), Florida Statutes, or an airport as
2061defined in s. 330.27(2), Florida Statutes.
2062     (3)  The Department of Revenue may, and all conditions are
2063deemed met to, adopt emergency rules pursuant to ss. 120.536(1)
2064and 120.54, Florida Statutes, to administer this section.
2065     (4)  This section shall take effect upon this act becoming
2066a law.
2067     Section 37.  Effective upon this act becoming a law, and
2068for the 2010-2011 fiscal year, the sum of $218,905 in
2069nonrecurring funds is appropriated from the General Revenue Fund
2070to the Department of Revenue for purposes of administering
2071section 36. Funds remaining unexpended or unencumbered from this
2072appropriation as of June 30, 2011, shall revert and be
2073reappropriated for the same purpose in the 2011-2012 fiscal
2074year.
2075     Section 38.  Effective upon this act becoming a law,
2076section 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
2080recommendations to prepare the state to effectively compete in
2081any federal base realignment and closure action, to support the
2082state's position in research and development related to or
2083arising out of military missions and contracting, and to improve
2084the state's military-friendly environment for service members,
2085military dependents, military retirees, and businesses that
2086bring military and base-related jobs to the state.
2087     (3)  The task force shall be comprised of the Governor or
2088his 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
2092Representatives.
2093     (d)  Appointed members must represent defense-related
2094industries or communities that host military bases and
2095installations. All appointments must be made by August 1, 2011.
2096Members shall serve for a term of 4 years, with the first term
2097ending July 1, 2015. However, if members of the Legislature are
2098appointed to the task force, those members shall serve until the
2099expiration of their legislative term and may be reappointed
2100once. A vacancy shall be filled for the remainder of the
2101unexpired term in the same manner as the initial appointment.
2102All members of the council are eligible for reappointment. A
2103member who serves in the Legislature may participate in all task
2104force activities, but may only vote on matters that are
2105advisory.
2106     (4)  The President of the Senate and the Speaker of the
2107House of Representatives shall each designate one of their
2108appointees to serve as chair of the task force. The chair shall
2109rotate each July 1. The appointee designated by the President of
2110the Senate shall serve as initial chair. If the Governor,
2111instead of his or her designee, participates in the activities
2112of the task force, then the Governor shall serve as chair.
2113     (5)  The Director of the Office of Tourism, Trade, and
2114Economic Development within the Executive Office of the
2115Governor, or his or her designee, shall serve as the ex officio,
2116nonvoting executive director of the task force.
2117     (6)  The chair shall schedule and conduct the first meeting
2118of the task force by October 1, 2011. The task force shall
2119submit a progress report and work plan for the remainder of the
21202011-2012 fiscal year to the Governor, the President of the
2121Senate, and the Speaker of the House of Representatives by
2122February 1, 2012, and shall submit an annual report each
2123February 1 thereafter.
2124     (7)  The Office of Tourism, Trade, and Economic Development
2125shall contract with the task force for expenditure of
2126appropriated funds, which may be used by the task force for
2127economic and product research and development, joint planning
2128with host communities to accommodate military missions and
2129prevent base encroachment, advocacy on the state's behalf with
2130federal civilian and military officials, assistance to school
2131districts in providing a smooth transition for large numbers of
2132additional military-related students, job training and placement
2133for military spouses in communities with high proportions of
2134active duty military personnel, and promotion of the state to
2135military and related contractors and employers. The task force
2136may annually spend up to $200,000 of funds appropriated to the
2137Executive Office of the Governor, Office of Tourism, Trade, and
2138Economic Development, for the task force for staffing and
2139administrative expenses of the task force, including travel and
2140per diem costs incurred by task force members who are not
2141otherwise eligible for state reimbursement.
2142     Section 39.  There is appropriated for state fiscal year
21432011-2012 to the Executive Office of the Governor, Office of
2144Tourism, Trade, and Economic Development:
2145     (1)  The sum of $15 million in nonrecurring funds from the
2146General Revenue Fund for the Innovation Incentive Fund program.
2147     (2)  The sum of $42 million in nonrecurring funds from the
2148General Revenue Fund for the Quick Action Closing Fund program.
2149From these funds, preference shall be given to those projects
2150that include at least a 20 percent local match of cash or in-
2151kind contributions, which contributions provide a cash savings
2152to the private business entity receiving the incentive awards.
2153     (3)  The sum of $10 million in nonrecurring funds from the
2154General Revenue Fund for the Institute for the Commercialization
2155of Public Research.
2156     (4)  The sum of $5 million in nonrecurring funds from the
2157General Revenue Fund for the Florida Defense Support Task Force.
2158     Section 40.  Except as otherwise expressly provided in this
2159act and except for this section, which shall take effect upon
2160this act becoming a law, this act shall take effect July 1,
21612011.


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