Bill Text: FL S1708 | 2021 | Regular Session | Introduced

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Bill Title: Urban High-Crime Area Job Tax Credit Program

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2021-04-30 - Died in Commerce and Tourism [S1708 Detail]

Download: Florida-2021-S1708-Introduced.html

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       Florida Senate - 2021                                    SB 1708
       
       
        
       By Senator Torres
       
       
       
       
       
       15-01916-21                                           20211708__
    1                        A bill to be entitled                      
    2         An act relating to the Urban High-Crime Area Job Tax
    3         Credit Program; repealing s. 212.097, F.S., relating
    4         to the Urban High-Crime Area Job Tax Credit Program;
    5         amending ss. 220.1895 and 288.0655, F.S.; conforming
    6         provisions to changes made by the act; providing an
    7         effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Section 212.097, Florida Statutes, is repealed.
   12         Section 2. Section 220.1895, Florida Statutes, is amended
   13  to read:
   14         220.1895 Rural Job Tax Credit and Urban High-Crime Area Job
   15  Tax Credit.—There shall be allowed a credit against the tax
   16  imposed by this chapter amounts approved by the Department of
   17  Economic Opportunity pursuant to the Rural Job Tax Credit
   18  Program in s. 212.098 and the Urban High-Crime Area Job Tax
   19  Credit Program in s. 212.097. A corporation that uses its credit
   20  against the tax imposed by this chapter may not take the credit
   21  against the tax imposed by chapter 212. If any credit granted
   22  under this section is not fully used in the first year for which
   23  it becomes available, the unused amount may be carried forward
   24  for a period not to exceed 5 years. The carryover may be used in
   25  a subsequent year when the tax imposed by this chapter for such
   26  year exceeds the credit for such year under this section after
   27  applying the other credits and unused credit carryovers in the
   28  order provided in s. 220.02(8).
   29         Section 3. Subsection (4) of section 288.0655, Florida
   30  Statutes, is amended to read:
   31         288.0655 Rural Infrastructure Fund.—
   32         (4) By September 1, 2021, the department shall, in
   33  consultation with the organizations listed in subsection (3),
   34  and other organizations, reevaluate existing guidelines and
   35  criteria governing submission of applications for funding,
   36  review and evaluation of such applications, and approval of
   37  funding under this section. The department shall consider
   38  factors including, but not limited to, the project’s potential
   39  for enhanced job creation or increased capital investment, the
   40  demonstration and level of local public and private commitment,
   41  whether the project is located in a community development
   42  corporation service area, or in an urban high-crime area as
   43  designated under s. 212.097, the unemployment rate of the county
   44  in which the project would be located, and the poverty rate of
   45  the community.
   46         Section 4. This act shall take effect July 1, 2021.