Florida Senate - 2011 SB 1208
By Senator Norman
12-01081-11 20111208__
1 A bill to be entitled
2 An act relating to school to work; creating s.
3 1004.995, F.S.; establishing the Postsecondary School
4 to-Work Program to be administered jointly by the
5 State Board of Education, the Board of Governors, and
6 the Department of Revenue; providing that a student
7 participating in the program earns course credit at a
8 career center, Florida College System institution, or
9 state university while employed as an apprentice with
10 a private business in his or her field of study;
11 providing for a credit against the corporate income
12 tax liability for a participating business; providing
13 limitations; requiring the adoption of rules and
14 regulations; amending s. 220.02, F.S.; adding a new
15 tax credit to the list of corporate income tax
16 credits; amending s. 220.13, F.S.; requiring addition
17 of the amount of the tax credit for determination of
18 adjusted federal income; providing an effective date.
19
20 Be It Enacted by the Legislature of the State of Florida:
21
22 Section 1. Section 1004.995, Florida Statutes, is created
23 to read:
24 1004.995 Postsecondary School-to-Work Program.—
25 (1) The Postsecondary School-to-Work Program is established
26 to be administered jointly by the State Board of Education, the
27 Board of Governors, and the Department of Revenue. The program
28 enables a postsecondary education student to earn course credit
29 at a career center, a Florida College System institution, or a
30 state university while employed as an apprentice with a private
31 business in his or her field of study.
32 (2) Participation in an apprenticeship offers the student a
33 combination of on-the-job training and related classroom
34 instruction in which a student learns the practical and
35 theoretical aspects of an occupation.
36 (3)(a) A business that hires an apprentice through the
37 program benefits by training students to industry standards,
38 filling current workforce needs, and preparing students for
39 future workforce needs.
40 (b) A business that participates in the program is eligible
41 to earn a tax credit of 5 percent per apprentice up to 10
42 percent for two apprentices against its corporate income tax
43 liability.
44 (4) The State Board of Education and the Department of
45 Revenue shall adopt rules and the Board of Governors shall adopt
46 regulations to administer this section.
47 Section 2. Subsection (8) of section 220.02, Florida
48 Statutes, is amended to read:
49 220.02 Legislative intent.—
50 (8) It is the intent of the Legislature that credits
51 against either the corporate income tax or the franchise tax be
52 applied in the following order: those enumerated in s. 631.828,
53 those enumerated in s. 220.191, those enumerated in s. 220.181,
54 those enumerated in s. 220.183, those enumerated in s. 220.182,
55 those enumerated in s. 220.1895, those enumerated in s. 221.02,
56 those enumerated in s. 220.184, those enumerated in s. 220.186,
57 those enumerated in s. 220.1845, those enumerated in s. 220.19,
58 those enumerated in s. 220.185, those enumerated in s. 220.1875,
59 those enumerated in s. 220.192, those enumerated in s. 220.193,
60 those enumerated in s. 288.9916, those enumerated in s.
61 220.1899, and those enumerated in s. 220.1896, and those
62 enumerated in s. 1004.995.
63 Section 3. Paragraph (a) of subsection (1) of section
64 220.13, Florida Statutes, is amended to read:
65 220.13 “Adjusted federal income” defined.—
66 (1) The term “adjusted federal income” means an amount
67 equal to the taxpayer’s taxable income as defined in subsection
68 (2), or such taxable income of more than one taxpayer as
69 provided in s. 220.131, for the taxable year, adjusted as
70 follows:
71 (a) Additions.—There shall be added to such taxable income:
72 1. The amount of any tax upon or measured by income,
73 excluding taxes based on gross receipts or revenues, paid or
74 accrued as a liability to the District of Columbia or any state
75 of the United States which is deductible from gross income in
76 the computation of taxable income for the taxable year.
77 2. The amount of interest which is excluded from taxable
78 income under s. 103(a) of the Internal Revenue Code or any other
79 federal law, less the associated expenses disallowed in the
80 computation of taxable income under s. 265 of the Internal
81 Revenue Code or any other law, excluding 60 percent of any
82 amounts included in alternative minimum taxable income, as
83 defined in s. 55(b)(2) of the Internal Revenue Code, if the
84 taxpayer pays tax under s. 220.11(3).
85 3. In the case of a regulated investment company or real
86 estate investment trust, an amount equal to the excess of the
87 net long-term capital gain for the taxable year over the amount
88 of the capital gain dividends attributable to the taxable year.
89 4. That portion of the wages or salaries paid or incurred
90 for the taxable year which is equal to the amount of the credit
91 allowable for the taxable year under s. 220.181. This
92 subparagraph shall expire on the date specified in s. 290.016
93 for the expiration of the Florida Enterprise Zone Act.
94 5. That portion of the ad valorem school taxes paid or
95 incurred for the taxable year which is equal to the amount of
96 the credit allowable for the taxable year under s. 220.182. This
97 subparagraph shall expire on the date specified in s. 290.016
98 for the expiration of the Florida Enterprise Zone Act.
99 6. The amount of emergency excise tax paid or accrued as a
100 liability to this state under chapter 221 which tax is
101 deductible from gross income in the computation of taxable
102 income for the taxable year.
103 7. That portion of assessments to fund a guaranty
104 association incurred for the taxable year which is equal to the
105 amount of the credit allowable for the taxable year.
106 8. In the case of a nonprofit corporation which holds a
107 pari-mutuel permit and which is exempt from federal income tax
108 as a farmers’ cooperative, an amount equal to the excess of the
109 gross income attributable to the pari-mutuel operations over the
110 attributable expenses for the taxable year.
111 9. The amount taken as a credit for the taxable year under
112 s. 220.1895.
113 10. Up to nine percent of the eligible basis of any
114 designated project which is equal to the credit allowable for
115 the taxable year under s. 220.185.
116 11. The amount taken as a credit for the taxable year under
117 s. 220.1875. The addition in this subparagraph is intended to
118 ensure that the same amount is not allowed for the tax purposes
119 of this state as both a deduction from income and a credit
120 against the tax. This addition is not intended to result in
121 adding the same expense back to income more than once.
122 12. The amount taken as a credit for the taxable year under
123 s. 220.192.
124 13. The amount taken as a credit for the taxable year under
125 s. 220.193.
126 14. Any portion of a qualified investment, as defined in s.
127 288.9913, which is claimed as a deduction by the taxpayer and
128 taken as a credit against income tax pursuant to s. 288.9916.
129 15. The costs to acquire a tax credit pursuant to s.
130 288.1254(5) that are deducted from or otherwise reduce federal
131 taxable income for the taxable year.
132 16. The amount taken as a credit for the taxable year under
133 s. 1004.995.
134 Section 4. This act shall take effect July 1, 2011.