Bill Text: FL S1436 | 2011 | Regular Session | Introduced
Bill Title: Tax Refund Program/Target Industry Businesses
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-05-07 - Indefinitely postponed and withdrawn from consideration [S1436 Detail]
Download: Florida-2011-S1436-Introduced.html
Florida Senate - 2011 SB 1436 By Senator Ring 32-01010A-11 20111436__ 1 A bill to be entitled 2 An act relating to the tax refund program for 3 qualified target industry businesses; amending s. 4 288.106, F.S.; defining and revising terms; revising 5 eligibility of qualified target industry businesses 6 for tax refunds; authorizing tax refunds for certain 7 businesses that make capital investments in a project; 8 revising application requirements and qualifications 9 for review of applications by the Office of Tourism, 10 Trade, and Economic Development; reenacting ss. 11 159.803(11), 212.098(1)(a), and 220.1896(1)(a), F.S., 12 relating to definitions with respect to eligible 13 projects for private activity bonds in the Florida 14 First Business allocation pool and eligible businesses 15 for the Rural Job Tax Credit Program and Jobs for the 16 Unemployed Tax Credit Program, to incorporate changes 17 made by the act in references thereto; amending s. 18 220.191, F.S.; conforming a cross-reference; 19 reenacting ss. 288.107(1)(e) and (h), 288.1089(4)(c), 20 and 380.0657(1) and (5), F.S., relating to definitions 21 with respect to eligible businesses and projects for 22 brownfield redevelopment bonus refunds, qualifications 23 for review of applications for the Innovation 24 Incentive Program, and economic development projects 25 eligible for an expedited permitting process, to 26 incorporate changes made by the act in references 27 thereto; providing an effective date. 28 29 Be It Enacted by the Legislature of the State of Florida: 30 31 Section 1. Subsection (2), paragraph (b) of subsection (3), 32 and paragraphs (a) and (b) of subsection (4) of section 288.106, 33 Florida Statutes, are amended to read: 34 288.106 Tax refund program for qualified target industry 35 businesses.— 36 (2) DEFINITIONS.—As used in this section, the term: 37 (a) “Account” means the Economic Development Incentives 38 Account within the Economic Development Trust Fund established 39 under s. 288.095. 40 (b) “Authorized local economic development agency” means a 41 public or private entity, including an entity defined in s. 42 288.075, authorized by a county or municipality to promote the 43 general business or industrial interests of that county or 44 municipality. 45 (c) “Average private sector wage in the area” means the 46 statewide private sector average wage or the average of all 47 private sector wages and salaries in the county or in the 48 standard metropolitan area in which the business is located. 49 (d) “Business” means an employing unit, as defined in s. 50 443.036, that is registered for unemployment compensation 51 purposes with the state agency providing unemployment tax 52 collection services under contract with the Agency for Workforce 53 Innovation through an interagency agreement pursuant to s. 54 443.1316, or a subcategory or division of an employing unit that 55 is accepted by the state agency providing unemployment tax 56 collection services as a reporting unit. 57 (e) “Capital investment” includes real or personal 58 property. 59 (f)(e)“Corporate headquarters business” means an 60 international, national, or regional headquarters office of a 61 multinational or multistate business enterprise or national 62 trade association, whether separate from or connected with other 63 facilities used by such business. 64 (g)(f)“Director” means the Director of the Office of 65 Tourism, Trade, and Economic Development. 66 (h)(g)“Enterprise zone” means an area designated as an 67 enterprise zone pursuant to s. 290.0065. 68 (i)(h)“Expansion of an existing business” means the 69 expansion of an existing Florida business by or through 70 additions to real and personal property, resulting in a net 71 increase in employment of not less than 10 percent at such 72 business or a net increase of capital investment in the business 73 of not less than 10 percent. 74 (j)(i)“Fiscal year” means the fiscal year of the state. 75 (k)(j)“Jobs” means full-time equivalent positions, 76 including, but not limited to, positions obtained from a 77 temporary employment agency or employee leasing company or 78 through a union agreement or coemployment under a professional 79 employer organization agreement, that result directly from a 80 project in this state. The term does not include temporary 81 construction jobs involved with the construction of facilities 82 for the project or any jobs previously included in any 83 application for tax refunds under s. 288.1045 or this section. 84 (l)(k)“Local financial support” means funding from local 85 sources, public or private, that is paid to the Economic 86 Development Trust Fund and that is equal to 20 percent of the 87 annual tax refund for a qualified target industry business. A 88 qualified target industry business may not provide, directly or 89 indirectly, more than 5 percent of such funding in any fiscal 90 year. The sources of such funding may not include, directly or 91 indirectly, state funds appropriated from the General Revenue 92 Fund or any state trust fund, excluding tax revenues shared with 93 local governments pursuant to law. 94 (m)(l)“Local financial support exemption option” means the 95 option to exercise an exemption from the local financial support 96 requirement available to any applicant whose project is located 97 in a brownfield area, a rural city, or a rural community. Any 98 applicant that exercises this option is not eligible for more 99 than 80 percent of the total tax refunds allowed such applicant 100 under this section. 101 (n) “NAICS code” means the corresponding industry code of 102 the North American Industry Classification System published by 103 the United States Office of Management and Budget, Executive 104 Office of the President. 105 (o)(m)“New business” means a business that applies for a 106 tax refund under this section before beginning operations in 107 this state and that is a legal entity separate from any other 108 commercial or industrial operations owned by the same business. 109 (p)(n)“Office” means the Office of Tourism, Trade, and 110 Economic Development. 111 (q)(o)“Project” means the creation of a new business or 112 expansion of an existing business. 113 (r)(p)“Qualified target industry business” means a target 114 industry business approved by the office to be eligible for tax 115 refunds under this section. 116 (s)(q)“Return on investment” means the gain in state 117 revenues as a percentage of the state’s investment. The state’s 118 investment includes state grants, tax exemptions, tax refunds, 119 tax credits, and other state incentives. 120 (t)(r)“Rural city” means a city having a population of 121 10,000 or fewer, or a city having a population of greater than 122 10,000 but fewer than 20,000 that has been determined by the 123 office to have economic characteristics such as, but not limited 124 to, a significant percentage of residents on public assistance, 125 a significant percentage of residents with income below the 126 poverty level, or a significant percentage of the city’s 127 employment base in agriculture-related industries. 128 (u)(s)“Rural community” means: 129 1. A county having a population of 75,000 or fewer. 130 2. A county having a population of 125,000 or fewer that is 131 contiguous to a county having a population of 75,000 or fewer. 132 3. A municipality within a county described in subparagraph 133 1. or subparagraph 2. 134 135 For purposes of this paragraph, population shall be determined 136 in accordance with the most recent official estimate pursuant to 137 s. 186.901. 138 (v)(t)“Target industry business” means a corporate 139 headquarters business or any business that is engaged in one of 140 the target industries identified pursuant to the following 141 criteria developed by the office in consultation with Enterprise 142 Florida, Inc.: 143 1. Future growth.—Industry forecasts should indicate strong 144 expectation for future growth in both employment and output, 145 according to the most recent available data. Special 146 consideration should be given to businesses that export goods 147 to, or provide services in, international markets,and148 businesses that replace domestic and international imports of 149 goods or services, and businesses within NAICS code 31, 32, or 150 33. 151 2. Stability.—The industry should not be subject to 152 periodic layoffs, whether due to seasonality or sensitivity to 153 volatile economic variables such as weather. The industry should 154 also be relatively resistant to recession, so that the demand 155 for products of this industry is not typically subject to 156 decline during an economic downturn. 157 3. High wage.—The industry should pay relatively high wages 158 compared to statewide or area averages. 159 4. Market and resource independent.—The location of 160 industry businesses should not be dependent on Florida markets 161 or resources as indicated by industry analysis, except for 162 businesses in the renewable energy industry. 163 5. Industrial base diversification and strengthening.—The 164 industry should contribute toward expanding or diversifying the 165 state’s or area’s economic base, as indicated by analysis of 166 employment and output shares compared to national and regional 167 trends. Special consideration should be given to industries that 168 strengthen regional economies by adding value to basic products 169 or building regional industrial clusters as indicated by 170 industry analysis. Special consideration should also be given to 171 the development of strong industrial clusters that include 172 defense and homeland security businesses. 173 6. Economic benefits.—The industry is expected to have 174 strong positive impacts on or benefits to the state or regional 175 economies. 176 177 The term does not include any business engaged in retail 178 industry activities; any electrical utility company; any 179 phosphate or other solid minerals severance, mining, or 180 processing operation; any oil or gas exploration or production 181 operation; or any business subject to regulation by the Division 182 of Hotels and Restaurants of the Department of Business and 183 Professional Regulation. Any business within NAICS code 5611 or 184 5614, office administrative services and business support 185 services, respectively, may be considered a target industry 186 business only after the local governing body and Enterprise 187 Florida, Inc., make a determination that the community where the 188 business may locate has conditions affecting the fiscal and 189 economic viability of the local community or area, including but 190 not limited to, factors such as low per capita income, high 191 unemployment, high underemployment, and a lack of year-round 192 stable employment opportunities, and such conditions may be 193 improved by the location of such a business to the community. By 194 January 1 of every 3rd year, beginning January 1, 2011, the 195 office, in consultation with Enterprise Florida, Inc., economic 196 development organizations, the State University System, local 197 governments, employee and employer organizations, market 198 analysts, and economists, shall review and, as appropriate, 199 revise the list of such target industries and submit the list to 200 the Governor, the President of the Senate, and the Speaker of 201 the House of Representatives. 202 (w)(u)“Taxable year” means taxable year as defined in s. 203 220.03(1)(y). 204 (3) TAX REFUND; ELIGIBLE AMOUNTS.— 205 (b)1. Upon approval by the office, a qualified target 206 industry business shall be allowed tax refund payments equal to 207 $3,000 multiplied by the number of jobs specified in the tax 208 refund agreement under subparagraph (5)(a)1., or equal to $6,000 209 multiplied by the number of jobs if the project is located in a 210 rural community or an enterprise zone. 211 2. A qualified target industry business shall be allowed 212 additional tax refund payments equal to $1,000 multiplied by the 213 number of jobs specified in the tax refund agreement under 214 subparagraph (5)(a)1. if such jobs pay an annual average wage of 215 at least 150 percent of the average private sector wage in the 216 area, or equal to $2,000 multiplied by the number of jobs if 217 such jobs pay an annual average wage of at least 200 percent of 218 the average private sector wage in the area. 219 3. A qualified target industry business shall be allowed 220 tax refund payments in addition to the other payments authorized 221 in this paragraph equal to $1,000 multiplied by the number of 222 jobs specified in the tax refund agreement under subparagraph 223 (5)(a)1. if the local financial support is equal to that of the 224 state’s incentive award under subparagraph 1. 225 4. A qualified target industry business within NAICS code 226 31, 32, or 33 shall be allowed tax refund payments equal to 227 $3,000 for every $30,000 of capital investment made in a 228 project, not to exceed an aggregate total of $500,000 of such 229 payments for the project under this subparagraph. 230 5.4.In addition to the other tax refund payments 231 authorized in this paragraph, a qualified target industry 232 business shall be allowed a tax refund payment equal to $2,000 233 multiplied by the number of jobs specified in the tax refund 234 agreement under subparagraph (5)(a)1. if the business: 235 a. Falls within one of the high-impact sectors designated 236 under s. 288.108; or 237 b. Increases exports of its goods through a seaport or 238 airport in the state by at least 10 percent in value or tonnage 239 in each of the years that the business receives a tax refund 240 under this section. For purposes of this sub-subparagraph, 241 seaports in the state are limited to the ports of Jacksonville, 242 Tampa, Port Everglades, Miami, Port Canaveral, Ft. Pierce, Palm 243 Beach, Port Manatee, Port St. Joe, Panama City, St. Petersburg, 244 Pensacola, Fernandina, and Key West. 245 (4) APPLICATION AND APPROVAL PROCESS.— 246 (a) To apply for certification as a qualified target 247 industry business under this section, the business must file an 248 application with the office before the business decides to 249 locate in this state or before the business decides to expand 250 its existing operations in this state. The application must 251 include, but need not be limited to, the following information: 252 1. The applicant’s federal employer identification number 253 and, if applicable, state sales tax registration number. 254 2. The proposed permanent location of the applicant’s 255 facility in this state at which the project is to be located. 256 3. A description of the type of business activity or 257 product covered by the project, including a minimum of a five 258 digit NAICS code for all activities included in the project.As259used in this paragraph, “NAICS” means those classifications260contained in the North American Industry Classification System,261as published in 2007 by the Office of Management and Budget,262Executive Office of the President, and updated periodically.263 4. The proposed number of net new full-time equivalent 264 Florida jobs at the qualified target industry business as of 265 December 31 of each year included in the project and the average 266 wage of those jobs. If more than one type of business activity 267 or product is included in the project, the number of jobs and 268 average wage for those jobs must be separately stated for each 269 type of business activity or product. 270 5. The total number of full-time equivalent employees 271 employed by the applicant in this state, if applicable. 272 6. The proposed amount of capital investment to be made 273 each year until the project’s completion. 274 7.6.The anticipated commencement date of the project. 275 8.7.A brief statement explaining the role that the 276 estimated tax refunds to be requested will play in the decision 277 of the applicant to locate or expand in this state. 278 9.8.An estimate of the proportion of the sales resulting 279 from the project that will be made outside this state. 280 10.9.An estimate of the proportion of the cost of the 281 machinery and equipment, and any other resources necessary in 282 the development of its product or service, to be used by the 283 business in its Florida operations which will be purchased 284 outside this state. 285 11.10.A resolution adopted by the governing board of the 286 county or municipality in which the project will be located, 287 which resolution recommends that the project be approved as a 288 qualified target industry business and specifies that the 289 commitments of local financial support necessary for the target 290 industry business exist. Before the passage of such resolution, 291 the office may also accept an official letter from an authorized 292 local economic development agency that endorses the proposed 293 target industry project and pledges that sources of local 294 financial support for such project exist. For the purposes of 295 making pledges of local financial support under this 296 subparagraph, the authorized local economic development agency 297 shall be officially designated by the passage of a one-time 298 resolution by the local governing board. 299 12.11.Any additional information requested by the office. 300 (b) To qualify for review by the office, the application of 301 a target industry business must propose a capital investment in 302 the project of at least $500,000 or, at a minimum, establish the 303 following to the satisfaction of the office: 304 1.a. The jobs proposed to be created under the application, 305 pursuant to subparagraph (a)4., must pay an estimated annual 306 average wage equaling at least 115 percent of the average 307 private sector wage in the area where the business is to be 308 located or the statewide private sector average wage. The 309 governing board of the county where the qualified target 310 industry business is to be located shall notify the office and 311 Enterprise Florida, Inc., which calculation of the average 312 private sector wage in the area must be used as the basis for 313 the business’s wage commitment. In determining the average 314 annual wage, the office shall include only new proposed jobs, 315 and wages for existing jobs shall be excluded from this 316 calculation. 317 b. The office may waive the average wage requirement at the 318 request of the local governing body recommending the project and 319 Enterprise Florida, Inc. The office may waive the wage 320 requirement for a project located in a brownfield area 321 designated under s. 376.80, in a rural city, in a rural 322 community, in an enterprise zone, or for a manufacturing project 323 at any location in the state if the jobs proposed to be created 324 pay an estimated annual average wage equaling at least 100 325 percent of the average private sector wage in the area where the 326 business is to be located, only if the merits of the individual 327 project or the specific circumstances in the community in 328 relationship to the project warrant such action. If the local 329 governing body and Enterprise Florida, Inc., make such a 330 recommendation, it must be transmitted in writing, and the 331 specific justification for the waiver recommendation must be 332 explained. If the office elects to waive the wage requirement, 333 the waiver must be stated in writing, and the reasons for 334 granting the waiver must be explained. 335 2. The target industry business’s project must result in 336 the creation of at least 10 jobs at the project and, in the case 337 of an expansion of an existing business, must result in a net 338 increase in employment of at least 10 percent at the business. 339 At the request of the local governing body recommending the 340 project and Enterprise Florida, Inc., the office may waive this 341 requirement for a business in a rural community or enterprise 342 zone if the merits of the individual project or the specific 343 circumstances in the community in relationship to the project 344 warrant such action. If the local governing body and Enterprise 345 Florida, Inc., make such a request, the request must be 346 transmitted in writing, and the specific justification for the 347 request must be explained. If the office elects to grant the 348 request, the grant must be stated in writing, and the reason for 349 granting the request must be explained. 350 3. The business activity or product for the applicant’s 351 project must be within an industry identified by the office as a 352 target industry business that contributes to the economic growth 353 of the state and the area in which the business is located, that 354 produces a higher standard of living for residents of this state 355 in the new global economy, or that can be shown to make an 356 equivalent contribution to the area’s and state’s economic 357 progress. 358 Section 2. For the purpose of incorporating the amendment 359 made by this act to section 288.106, Florida Statutes, in a 360 reference thereto, subsection (11) of section 159.803, Florida 361 Statutes, is reenacted to read: 362 159.803 Definitions.—As used in this part, the term: 363 (11) “Florida First Business project” means any project 364 which is certified by the Office of Tourism, Trade, and Economic 365 Development as eligible to receive an allocation from the 366 Florida First Business allocation pool established pursuant to 367 s. 159.8083. The Office of Tourism, Trade, and Economic 368 Development may certify those projects meeting the criteria set 369 forth in s. 288.106(4)(b) or any project providing a substantial 370 economic benefit to this state. 371 Section 3. For the purpose of incorporating the amendment 372 made by this act to section 288.106, Florida Statutes, in a 373 reference thereto, paragraph (a) of subsection (1) of section 374 212.098, Florida Statutes, is reenacted to read: 375 212.098 Rural Job Tax Credit Program.— 376 (1) As used in this section, the term: 377 (a) “Eligible business” means any sole proprietorship, 378 firm, partnership, or corporation that is located in a qualified 379 county and is predominantly engaged in, or is headquarters for a 380 business predominantly engaged in, activities usually provided 381 for consideration by firms classified within the following 382 standard industrial classifications: SIC 01-SIC 09 (agriculture, 383 forestry, and fishing); SIC 20-SIC 39 (manufacturing); SIC 422 384 (public warehousing and storage); SIC 70 (hotels and other 385 lodging places); SIC 7391 (research and development); SIC 781 386 (motion picture production and allied services); SIC 7992 387 (public golf courses); SIC 7996 (amusement parks); and a 388 targeted industry eligible for the qualified target industry 389 business tax refund under s. 288.106. A call center or similar 390 customer service operation that services a multistate market or 391 an international market is also an eligible business. In 392 addition, the Office of Tourism, Trade, and Economic Development 393 may, as part of its final budget request submitted pursuant to 394 s. 216.023, recommend additions to or deletions from the list of 395 standard industrial classifications used to determine an 396 eligible business, and the Legislature may implement such 397 recommendations. Excluded from eligible receipts are receipts 398 from retail sales, except such receipts for hotels and other 399 lodging places classified in SIC 70, public golf courses in SIC 400 7992, and amusement parks in SIC 7996. For purposes of this 401 paragraph, the term “predominantly” means that more than 50 402 percent of the business’s gross receipts from all sources is 403 generated by those activities usually provided for consideration 404 by firms in the specified standard industrial classification. 405 The determination of whether the business is located in a 406 qualified county and the tier ranking of that county must be 407 based on the date of application for the credit under this 408 section. Commonly owned and controlled entities are to be 409 considered a single business entity. 410 Section 4. For the purpose of incorporating the amendment 411 made by this act to section 288.106, Florida Statutes, in a 412 reference thereto, paragraph (a) of subsection (1) of section 413 220.1896, Florida Statutes, is reenacted to read: 414 220.1896 Jobs for the Unemployed Tax Credit Program.— 415 (1) As used in this section, the term: 416 (a) “Eligible business” means any target industry business 417 as defined in s. 288.106(2) which is subject to the tax imposed 418 by this chapter. The eligible business does not have to be 419 certified to receive the Qualified Target Industry Tax Refund 420 Incentive under s. 288.106 in order to receive the tax credit 421 available under this section. 422 Section 5. Paragraph (h) of subsection (1) of section 423 220.191, Florida Statutes, is amended to read: 424 220.191 Capital investment tax credit.— 425 (1) DEFINITIONS.—For purposes of this section: 426 (h) “Qualifying project” means: 427 1. A new or expanding facility in this state which creates 428 at least 100 new jobs in this state and is in one of the high 429 impact sectors identified by Enterprise Florida, Inc., and 430 certified by the office pursuant to s. 288.108(6), including, 431 but not limited to, aviation, aerospace, automotive, and silicon 432 technology industries; 433 2. A new or expanded facility in this state which is 434 engaged in a target industry designated pursuant to the 435 procedure specified in s. 288.106(2)(v)(t)and which is induced 436 by this credit to create or retain at least 1,000 jobs in this 437 state, provided that at least 100 of those jobs are new, pay an 438 annual average wage of at least 130 percent of the average 439 private sector wage in the area as defined in s. 288.106(2), and 440 make a cumulative capital investment of at least $100 million 441 after July 1, 2005. Jobs may be considered retained only if 442 there is significant evidence that the loss of jobs is imminent. 443 Notwithstanding subsection (2), annual credits against the tax 444 imposed by this chapter shall not exceed 50 percent of the 445 increased annual corporate income tax liability or the premium 446 tax liability generated by or arising out of a project 447 qualifying under this subparagraph. A facility that qualifies 448 under this subparagraph for an annual credit against the tax 449 imposed by this chapter may take the tax credit for a period not 450 to exceed 5 years; or 451 3. A new or expanded headquarters facility in this state 452 which locates in an enterprise zone and brownfield area and is 453 induced by this credit to create at least 1,500 jobs which on 454 average pay at least 200 percent of the statewide average annual 455 private sector wage, as published by the Agency for Workforce 456 Innovation or its successor, and which new or expanded 457 headquarters facility makes a cumulative capital investment in 458 this state of at least $250 million. 459 Section 6. For the purpose of incorporating the amendment 460 made by this act to section 288.106, Florida Statutes, in 461 references thereto, paragraphs (e) and (h) of subsection (1) of 462 section 288.107, Florida Statutes, are reenacted to read: 463 288.107 Brownfield redevelopment bonus refunds.— 464 (1) DEFINITIONS.—As used in this section: 465 (e) “Eligible business” means: 466 1. A qualified target industry business as defined in s. 467 288.106(2); or 468 2. A business that can demonstrate a fixed capital 469 investment of at least $2 million in mixed-use business 470 activities, including multiunit housing, commercial, retail, and 471 industrial in brownfield areas, or at least $500,000 in 472 brownfield areas that do not require site cleanup, and that 473 provides benefits to its employees. 474 (h) “Project” means the creation of a new business or the 475 expansion of an existing business as defined in s. 288.106. 476 Section 7. For the purpose of incorporating the amendment 477 made by this act to section 288.106, Florida Statutes, in a 478 reference thereto, paragraph (c) of subsection (4) of section 479 288.1089, Florida Statutes, is reenacted to read: 480 288.1089 Innovation Incentive Program.— 481 (4) To qualify for review by the office, the applicant 482 must, at a minimum, establish the following to the satisfaction 483 of Enterprise Florida, Inc., and the office: 484 (c) An innovation business project in this state, other 485 than a research and development project, must: 486 1.a. Result in the creation of at least 1,000 direct, new 487 jobs at the business; or 488 b. Result in the creation of at least 500 direct, new jobs 489 if the project is located in a rural area, a brownfield area, or 490 an enterprise zone. 491 2. Have an activity or product that is within an industry 492 that is designated as a target industry business under s. 493 288.106 or a designated sector under s. 288.108. 494 3.a. Have a cumulative investment of at least $500 million 495 within a 5-year period; or 496 b. Have a cumulative investment that exceeds $250 million 497 within a 10-year period if the project is located in a rural 498 area, brownfield area, or an enterprise zone. 499 4. Be provided with a one-to-one match from the local 500 community. The match requirement may be reduced or waived in 501 rural areas of critical economic concern or reduced in rural 502 areas, brownfield areas, and enterprise zones. 503 Section 8. For the purpose of incorporating the amendment 504 made by this act to section 288.106, Florida Statutes, in 505 references thereto, subsections (1) and (5) of section 380.0657, 506 Florida Statutes, are reenacted to read: 507 380.0657 Expedited permitting process for economic 508 development projects.— 509 (1) The Department of Environmental Protection and, as 510 appropriate, the water management districts created under 511 chapter 373 shall adopt programs to expedite the processing of 512 wetland resource and environmental resource permits for economic 513 development projects that have been identified by a municipality 514 or county as meeting the definition of target industry 515 businesses under s. 288.106, with the exception of those 516 projects requiring approval by the Board of Trustees of the 517 Internal Improvement Trust Fund. 518 (5) Notwithstanding the provisions of this section, permit 519 applications for projects to be located in a charter county that 520 has a population of 1.2 million or more and has entered into a 521 delegation agreement with the Department of Environmental 522 Protection or the applicable water management district to 523 process environmental resource permits, wetland resource 524 management permits, or surface water management permits pursuant 525 to chapter 373 are eligible for expedited permitting under this 526 section only upon designation by resolution of the charter 527 county’s governing board. Before the governing board decides 528 that a project is eligible for expedited permitting, it may 529 require the county’s economic development agency, or such other 530 agency that provides advice to the governing board on economic 531 matters, to review and recommend whether the project meets the 532 definition of a target industry business as defined in s. 533 288.106 and to identify the tangible benefits and impacts of the 534 project. The governing board’s decision shall be made without 535 consideration of the project’s geographic location within the 536 charter county. If the governing board designates the project as 537 a target industry business, the permit application for the 538 project shall be approved or denied within the timeframe 539 provided in subsection (4). 540 Section 9. This act shall take effect July 1, 2011.