Bill Text: FL S0208 | 2014 | Regular Session | Comm Sub
Bill Title: Motorsports Entertainment Complexes
Spectrum: Slight Partisan Bill (Republican 9-2-2)
Status: (Failed) 2014-05-02 - Died in Messages [S0208 Detail]
Download: Florida-2014-S0208-Comm_Sub.html
Florida Senate - 2014 CS for CS for SB 208 By the Committees on Appropriations; and Commerce and Tourism; and Senators Hukill, Thrasher, Hays, Latvala, Simpson, Simmons, Negron, Braynon, Altman, and Galvano 576-02241-14 2014208c2 1 A bill to be entitled 2 An act relating to motorsports entertainment 3 complexes; amending s. 212.20, F.S.; providing for a 4 monthly distribution of a specified amount of sales 5 tax revenue to a complex certified as a motorsports 6 entertainment complex by the Department of Economic 7 Opportunity; amending s. 288.1171, F.S.; authorizing 8 the department to certify a single motorsports complex 9 if it meets specified criteria; authorizing the 10 Auditor General to verify the expenditure of specified 11 distributions and to notify the Department of Revenue 12 of improperly expended funds so that it may pursue 13 recovery; providing an effective date. 14 15 Be It Enacted by the Legislature of the State of Florida: 16 17 Section 1. Paragraph (d) of subsection (6) of section 18 212.20, Florida Statutes, is amended to read: 19 212.20 Funds collected, disposition; additional powers of 20 department; operational expense; refund of taxes adjudicated 21 unconstitutionally collected.— 22 (6) Distribution of all proceeds under this chapter and s. 23 202.18(1)(b) and (2)(b) shall be as follows: 24 (d) The proceeds of all other taxes and fees imposed 25 pursuant to this chapter or remitted pursuant to s. 202.18(1)(b) 26 and (2)(b) shall be distributed as follows: 27 1. In any fiscal year, the greater of $500 million, minus 28 an amount equal to 4.6 percent of the proceeds of the taxes 29 collected pursuant to chapter 201, or 5.2 percent of all other 30 taxes and fees imposed pursuant to this chapter or remitted 31 pursuant to s. 202.18(1)(b) and (2)(b) shall be deposited in 32 monthly installments into the General Revenue Fund. 33 2. After the distribution under subparagraph 1., 8.814 34 percent of the amount remitted by a sales tax dealer located 35 within a participating county pursuant to s. 218.61 shall be 36 transferred into the Local Government Half-cent Sales Tax 37 Clearing Trust Fund. Beginning July 1, 2003, the amount to be 38 transferred shall be reduced by 0.1 percent, and the department 39 shall distribute this amount to the Public Employees Relations 40 Commission Trust Fund less $5,000 each month, which shall be 41 added to the amount calculated in subparagraph 3. and 42 distributed accordingly. 43 3. After the distribution under subparagraphs 1. and 2., 44 0.095 percent shall be transferred to the Local Government Half 45 cent Sales Tax Clearing Trust Fund and distributed pursuant to 46 s. 218.65. 47 4. After the distributions under subparagraphs 1., 2., and 48 3., 2.0440 percent of the available proceeds shall be 49 transferred monthly to the Revenue Sharing Trust Fund for 50 Counties pursuant to s. 218.215. 51 5. After the distributions under subparagraphs 1., 2., and 52 3., 1.3409 percent of the available proceeds shall be 53 transferred monthly to the Revenue Sharing Trust Fund for 54 Municipalities pursuant to s. 218.215. If the total revenue to 55 be distributed pursuant to this subparagraph is at least as 56 great as the amount due from the Revenue Sharing Trust Fund for 57 Municipalities and the former Municipal Financial Assistance 58 Trust Fund in state fiscal year 1999-2000, no municipality shall 59 receive less than the amount due from the Revenue Sharing Trust 60 Fund for Municipalities and the former Municipal Financial 61 Assistance Trust Fund in state fiscal year 1999-2000. If the 62 total proceeds to be distributed are less than the amount 63 received in combination from the Revenue Sharing Trust Fund for 64 Municipalities and the former Municipal Financial Assistance 65 Trust Fund in state fiscal year 1999-2000, each municipality 66 shall receive an amount proportionate to the amount it was due 67 in state fiscal year 1999-2000. 68 6. Of the remaining proceeds: 69 a. In each fiscal year, the sum of $29,915,500 shall be 70 divided into as many equal parts as there are counties in the 71 state, and one part shall be distributed to each county. The 72 distribution among the several counties must begin each fiscal 73 year on or before January 5th and continue monthly for a total 74 of 4 months. If a local or special law required that any moneys 75 accruing to a county in fiscal year 1999-2000 under the then 76 existing provisions of s. 550.135 be paid directly to the 77 district school board, special district, or a municipal 78 government, such payment must continue until the local or 79 special law is amended or repealed. The state covenants with 80 holders of bonds or other instruments of indebtedness issued by 81 local governments, special districts, or district school boards 82 before July 1, 2000, that it is not the intent of this 83 subparagraph to adversely affect the rights of those holders or 84 relieve local governments, special districts, or district school 85 boards of the duty to meet their obligations as a result of 86 previous pledges or assignments or trusts entered into which 87 obligated funds received from the distribution to county 88 governments under then-existing s. 550.135. This distribution 89 specifically is in lieu of funds distributed under s. 550.135 90 before July 1, 2000. 91 b. The department shall distribute $166,667 monthly 92pursuant to s. 288.1162to each applicant certified as a 93 facility for a new or retained professional sports franchise 94 pursuant to s. 288.1162. Up to $41,667 shall be distributed 95 monthly by the department to each certified applicant as defined 96 in s. 288.11621 for a facility for a spring training franchise. 97 However, not more than $416,670 may be distributed monthly in 98 the aggregate to all certified applicants for facilities for 99 spring training franchises. The department shall also distribute 100 $166,667 monthly to an applicant certified as a motorsports 101 entertainment complex under s. 288.1171. Distributions begin 60 102 days after such certification and continue for not more than 30 103 years, except as otherwise provided in s. 288.11621. A certified 104 applicant identified in this sub-subparagraph may not receive 105 more in distributions than expended by the applicant for the 106 public purposes provided for underins. 288.1162(5),ors. 107 288.11621(3), or s. 288.1171(7). 108 c. Beginning 30 days after notice by the Department of 109 Economic Opportunity to the Department of Revenue that an 110 applicant has been certified as the professional golf hall of 111 fame pursuant to s. 288.1168 and is open to the public, $166,667 112 shall be distributed monthly, for up to 300 months, to the 113 applicant. 114 d. Beginning 30 days after notice by the Department of 115 Economic Opportunity to the Department of Revenue that the 116 applicant has been certified as the International Game Fish 117 Association World Center facility pursuant to s. 288.1169, and 118 the facility is open to the public, $83,333 shall be distributed 119 monthly, for up to 168 months, to the applicant. This 120 distribution is subject to reduction pursuant to s. 288.1169. A 121 lump sum payment of $999,996 shall be made,after certification 122 and before July 1, 2000. 123 e. The department shall distribute up to $55,555 monthly to 124 each certified applicant as defined in s. 288.11631 for a 125 facility used by a single spring training franchise, or up to 126 $111,110 monthly to each certified applicant as defined in s. 127 288.11631 for a facility used by more than one spring training 128 franchise. Monthly distributions begin 60 days after such 129 certification or July 1, 2016, whichever is later, and continue 130 for not more than 30 years, except as otherwise provided in s. 131 288.11631. A certified applicant identified in this sub 132 subparagraph may not receive more in distributions than expended 133 by the applicant for the public purposes provided in s. 134 288.11631(3). 135 7. All other proceeds must remain in the General Revenue 136 Fund. 137 Section 2. Subsection (2) of section 288.1171, Florida 138 Statutes, is amended, present subsections (4) through (7) of 139 that section are redesignated as subsections (5) through (8), 140 respectively, and amended, and a new subsection (4) is added to 141 that section, to read: 142 288.1171 Motorsports entertainment complex; definitions; 143 certification; duties.— 144 (2) The department shall serve as the state agency for 145 screening applicants for funding under s. 212.20, for local 146 option funding under s. 218.64(3), and for certifying an 147 applicant as a motorsports entertainment complex. The department 148 shall develop and adopt rules for the receipt and processing of 149 applications for funding under ss. 212.20 ands.218.64(3). The 150 department shall make a determination regarding any application 151 filed by an applicant withinnot later than120 days after the 152 application is filed. 153 (4) The department may certify a single applicant as a 154 motorsports entertainment complex for funding under s. 212.20 if 155 the applicant meets all of the following conditions: 156 (a) The applicant meets the requirements of subsection (3). 157 (b) The applicant has a verified copy of the approval of a 158 sanctioning body stating that motorsport events are sanctioned 159 to occur at the applicant’s complex. 160 (c) The applicant’s facility has at least 50,000 fixed 161 seats. 162 (d) The applicant has projections, verified by the 163 department, which demonstrate that the motorsports entertainment 164 complex will annually attract paid attendance of more than 165 100,000 persons. 166 (e) The applicant has an independent analysis or study, 167 verified by the department, which demonstrates that the amount 168 of revenues generated by the taxes imposed under chapter 212 169 with respect to the use and operation of the motorsports 170 entertainment complex will annually equal or exceed $2 million. 171 (f) The applicant has demonstrated that it has provided, is 172 capable of providing, or has financial or other commitments to 173 provide more than one-half of the costs incurred or related to 174 the improvement and development of the complex. 175 (g) The total cost of construction, reconstruction, 176 expansion, or renovation of the complex exceeds $250 million. 177 178 The approved applicant may not seek funding under s. 218.64(3) 179 while receiving funding under s. 212.20. 180 (5)(4)Upon determining that an applicant meets the 181 requirements of subsection (3) or subsection (4), the department 182 shall notify the applicant and the executive director of the 183 Department of Revenue of such certification by means of an 184 official letter granting certification. If the applicant fails 185 to meet the certification requirements of subsection (3) or 186 subsection (4), the department shall notify the applicant within 187not later than10 days following such determination. 188 (6)(5)A motorsports entertainment complex that has been 189 previously certified under this section and has received funding 190 under such certification is ineligible foranyadditional 191 certification. 192 (7)(6)An applicant certified as a motorsports 193 entertainment complex may use funds provided pursuant to s. 194 212.20 or s. 218.64(3) only for the following public purposes: 195 (a) Paying for the construction, reconstruction, expansion, 196 or renovation of a motorsports entertainment complex. 197 (b) Paying debt service reserve funds, arbitrage rebate 198 obligations, or other amounts relatingpayable with respectto 199 bonds issued for the construction, reconstruction, expansion, or 200 renovation of the motorsports entertainment complex or for the 201 reimbursement of such costs or the refinancing of bonds issued 202 for such purposes. 203 (c) Paying for construction, reconstruction, expansion, or 204 renovation of transportation or other infrastructure 205 improvements related to, necessary for, or appurtenant to the 206 motorsports entertainment complex, including, without207limitation,paying debt service reserve funds, arbitrage rebate 208 obligations, or other amounts relatingpayable with respectto 209 bonds issued for the construction, reconstruction, expansion, or 210 renovation of such transportation or other infrastructure 211 improvements, and for the reimbursement of such costs or the 212 refinancing of bonds issued for such purposes. 213 (d) Paying for programs of advertising and promotion of or 214 related to the motorsports entertainment complex or the 215 municipality in which the motorsports entertainment complex is 216 located, or the county if the motorsports entertainment complex 217 is located in an unincorporated area, if such programs of 218 advertising and promotion are designed to increase paid 219 attendance at the motorsports entertainment complex or increase 220 tourism in or promote the economic development of the community 221 in which the motorsports entertainment complex is located. 222 (8)(7)The Department of Revenue may audit,As provided in 223 s. 11.45213.34, the Auditor General may conduct an audit to 224 verify that the distributions pursuant to this section have been 225 expended as required in this section.Such information is226subject to the confidentiality requirements of chapter 213.If 227 the Auditor GeneralDepartment of Revenuedetermines that the 228 distributions pursuant to certificationunder this sectionhave 229 not been expended as required by this section, the Auditor 230 General shall notify the Department of Revenue, whichitmay 231 pursue recovery of such funds pursuant to the laws and rules 232 governing the assessment of taxes. 233 Section 3. This act shall take effect July 1, 2014.