Florida House Bill 1057 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on March 9 2012 - 100% progression
Action: 2012-03-09 - Died in Business and Consumer Affairs Subcommittee
Text: Latest bill text (Introduced) [PDF]

Revises order in which credits against corporate income tax or franchise tax may be taken to include certain credits relating to corporation's execution of business contract with small business; redefines term "adjusted federal income" to include amount of such tax credits; provides tax credits for use by corporation against state corporate income tax in amount equal to specified percentage of corporation's payments to small business providing goods or services to corporation pursuant to contract; provides qualification criteria; requires business to submit application to DEO for approval to earn credits; provides application requirements; provides procedures & requirements for department approval; specifies amount of tax credit; prohibits tax credits from being carried forward or backward or being transferred or sold; provides criminal & administrative penalties for fraudulently claiming tax credits; authorizes DEO & DOR to adopt rules.

Small Business Growth

Sen. Janet Cruz [D]

Date	Chamber	Action
2012-03-09		Died in Business and Consumer Affairs Subcommittee
2012-01-10		Introduced -HJ 103
2011-12-28		Referred to Business and Consumer Affairs Subcommittee; Rulemaking and Regulation Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 103
2011-12-16		Filed

Chapter	Article	Section	Citation Type	Statute Text
220	02		Amended Code	See Bill Text
220	13		Amended Code	See Bill Text

Type	Source
Summary	http://www.flsenate.gov/Session/Bill/2012/1057
Text	http://www.flsenate.gov/Session/Bill/2012/1057/BillText/Filed/PDF