Bill Text: FL H0297 | 2011 | Regular Session | Introduced


Bill Title: School to Work

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2011-05-07 - Indefinitely postponed and withdrawn from consideration [H0297 Detail]

Download: Florida-2011-H0297-Introduced.html
HB 297

1
A bill to be entitled
2An act relating to school to work; creating s. 1004.995,
3F.S.; establishing the Postsecondary School-to-Work
4Program to be administered jointly by the State Board of
5Education, the Board of Governors, and the Department of
6Revenue; providing that a student participating in the
7program earns course credit at a career center, Florida
8College System institution, or state university while
9employed as an apprentice with a private business in his
10or her field of study; providing for a credit against the
11corporate income tax liability for a participating
12business; providing limitations; requiring the adoption of
13rules and regulations; amending s. 220.02, F.S.; adding a
14new tax credit to the list of corporate income tax
15credits; amending s. 220.13, F.S.; requiring addition of
16the amount of the tax credit for determination of adjusted
17federal income; providing an effective date.
18
19Be It Enacted by the Legislature of the State of Florida:
20
21     Section 1.  Section 1004.995, Florida Statutes, is created
22to read:
23     1004.995  Postsecondary School-to-Work Program.-
24     (1)  The Postsecondary School-to-Work Program is
25established to be administered jointly by the State Board of
26Education, the Board of Governors, and the Department of
27Revenue. The program enables a postsecondary education student
28to earn course credit at a career center, a Florida College
29System institution, or a state university while employed as an
30apprentice with a private business in his or her field of study.
31     (2)  Participation in an apprenticeship offers the student
32a combination of on-the-job training and related classroom
33instruction in which a student learns the practical and
34theoretical aspects of an occupation.
35     (3)(a)  A business that hires an apprentice through the
36program benefits by training students to industry standards,
37filling current workforce needs, and preparing students for
38future workforce needs.
39     (b)  A business that participates in the program is
40eligible to earn a tax credit of 5 percent per apprentice up to
4110 percent for two apprentices against its corporate income tax
42liability.
43     (4)  The State Board of Education and the Department of
44Revenue shall adopt rules and the Board of Governors shall adopt
45regulations to administer this section.
46     Section 2.  Subsection (8) of section 220.02, Florida
47Statutes, is amended to read:
48     220.02  Legislative intent.-
49     (8)  It is the intent of the Legislature that credits
50against either the corporate income tax or the franchise tax be
51applied in the following order: those enumerated in s. 631.828,
52those enumerated in s. 220.191, those enumerated in s. 220.181,
53those enumerated in s. 220.183, those enumerated in s. 220.182,
54those enumerated in s. 220.1895, those enumerated in s. 221.02,
55those enumerated in s. 220.184, those enumerated in s. 220.186,
56those enumerated in s. 220.1845, those enumerated in s. 220.19,
57those enumerated in s. 220.185, those enumerated in s. 220.1875,
58those enumerated in s. 220.192, those enumerated in s. 220.193,
59those enumerated in s. 288.9916, those enumerated in s.
60220.1899, and those enumerated in s. 220.1896, and those
61enumerated in s. 1004.995.
62     Section 3.  Paragraph (a) of subsection (1) of section
63220.13, Florida Statutes, is amended to read:
64     220.13  "Adjusted federal income" defined.-
65     (1)  The term "adjusted federal income" means an amount
66equal to the taxpayer's taxable income as defined in subsection
67(2), or such taxable income of more than one taxpayer as
68provided in s. 220.131, for the taxable year, adjusted as
69follows:
70     (a)  Additions.-There shall be added to such taxable
71income:
72     1.  The amount of any tax upon or measured by income,
73excluding taxes based on gross receipts or revenues, paid or
74accrued as a liability to the District of Columbia or any state
75of the United States which is deductible from gross income in
76the computation of taxable income for the taxable year.
77     2.  The amount of interest which is excluded from taxable
78income under s. 103(a) of the Internal Revenue Code or any other
79federal law, less the associated expenses disallowed in the
80computation of taxable income under s. 265 of the Internal
81Revenue Code or any other law, excluding 60 percent of any
82amounts included in alternative minimum taxable income, as
83defined in s. 55(b)(2) of the Internal Revenue Code, if the
84taxpayer pays tax under s. 220.11(3).
85     3.  In the case of a regulated investment company or real
86estate investment trust, an amount equal to the excess of the
87net long-term capital gain for the taxable year over the amount
88of the capital gain dividends attributable to the taxable year.
89     4.  That portion of the wages or salaries paid or incurred
90for the taxable year which is equal to the amount of the credit
91allowable for the taxable year under s. 220.181. This
92subparagraph shall expire on the date specified in s. 290.016
93for the expiration of the Florida Enterprise Zone Act.
94     5.  That portion of the ad valorem school taxes paid or
95incurred for the taxable year which is equal to the amount of
96the credit allowable for the taxable year under s. 220.182. This
97subparagraph shall expire on the date specified in s. 290.016
98for the expiration of the Florida Enterprise Zone Act.
99     6.  The amount of emergency excise tax paid or accrued as a
100liability to this state under chapter 221 which tax is
101deductible from gross income in the computation of taxable
102income for the taxable year.
103     7.  That portion of assessments to fund a guaranty
104association incurred for the taxable year which is equal to the
105amount of the credit allowable for the taxable year.
106     8.  In the case of a nonprofit corporation which holds a
107pari-mutuel permit and which is exempt from federal income tax
108as a farmers' cooperative, an amount equal to the excess of the
109gross income attributable to the pari-mutuel operations over the
110attributable expenses for the taxable year.
111     9.  The amount taken as a credit for the taxable year under
112s. 220.1895.
113     10.  Up to nine percent of the eligible basis of any
114designated project which is equal to the credit allowable for
115the taxable year under s. 220.185.
116     11.  The amount taken as a credit for the taxable year
117under s. 220.1875. The addition in this subparagraph is intended
118to ensure that the same amount is not allowed for the tax
119purposes of this state as both a deduction from income and a
120credit against the tax. This addition is not intended to result
121in adding the same expense back to income more than once.
122     12.  The amount taken as a credit for the taxable year
123under s. 220.192.
124     13.  The amount taken as a credit for the taxable year
125under s. 220.193.
126     14.  Any portion of a qualified investment, as defined in
127s. 288.9913, which is claimed as a deduction by the taxpayer and
128taken as a credit against income tax pursuant to s. 288.9916.
129     15.  The costs to acquire a tax credit pursuant to s.
130288.1254(5) that are deducted from or otherwise reduce federal
131taxable income for the taxable year.
132     16.  The amount taken as a credit for the taxable year
133under s. 1004.995.
134     Section 4.  This act shall take effect July 1, 2011.


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