Bill Text: FL S0098 | 2013 | Regular Session | Introduced

---

Bill Title: New Markets Development Program

Sponsorship: Slight Partisan Bill (Democrat 2-1)

Status: (Failed) 2013-05-03 - Died in Appropriations Subcommittee on Finance and Tax, companion bill(s) passed, see CS/SB 406 (Ch. 2013-42) [S0098 Detail]

Download: Florida-2013-S0098-Introduced.html

---

       Florida Senate - 2013                                      SB 98
       
       
       
       By Senator Richter
       
       
       
       
       23-00167-13                                             201398__
    1                        A bill to be entitled                      
    2         An act relating to the New Markets Development
    3         Program; amending s. 288.9914, F.S.; revising limits
    4         on tax credits that may be claimed by qualified
    5         community development entities under the program;
    6         providing an effective date.
    7  
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Paragraph (c) of subsection (3) of section
   11  288.9914, Florida Statutes, is amended to read:
   12         288.9914 Certification of qualified investments; investment
   13  issuance reporting.—
   14         (3) REVIEW.—
   15         (c) The department may not approve a cumulative amount of
   16  qualified investments that may result in the claim of more than
   17  $263.8 $163.8 million in tax credits during the existence of the
   18  program or more than $53.6 $33.6 million in tax credits in a
   19  single state fiscal year. However, the potential for a taxpayer
   20  to carry forward an unused tax credit may not be considered in
   21  calculating the annual limit.
   22         Section 2. This act shall take effect July 1, 2013.