Florida Senate - 2013                        COMMITTEE AMENDMENT
       Bill No. PCS (526908) for CS for SB 928
       
       
       
       
       
       
                                Barcode 698404                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/22/2013           .                                
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       The Committee on Appropriations (Ring) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 117 and 118
    4  insert:
    5         Section 4. Paragraph (p) of subsection (5) of section
    6  212.08, Florida Statutes, is amended to read:
    7         212.08 Sales, rental, use, consumption, distribution, and
    8  storage tax; specified exemptions.—The sale at retail, the
    9  rental, the use, the consumption, the distribution, and the
   10  storage to be used or consumed in this state of the following
   11  are hereby specifically exempt from the tax imposed by this
   12  chapter.
   13         (5) EXEMPTIONS; ACCOUNT OF USE.—
   14         (p) Community contribution tax credit for donations.—
   15         1. Authorization.—Persons who are registered with the
   16  department under s. 212.18 to collect or remit sales or use tax
   17  and who make donations to eligible sponsors are eligible for tax
   18  credits against their state sales and use tax liabilities as
   19  provided in this paragraph:
   20         a. The credit shall be computed as 50 percent of the
   21  person’s approved annual community contribution.
   22         b. The credit shall be granted as a refund against state
   23  sales and use taxes reported on returns and remitted in the 12
   24  months preceding the date of application to the department for
   25  the credit as required in sub-subparagraph 3.c. If the annual
   26  credit is not fully used through such refund because of
   27  insufficient tax payments during the applicable 12-month period,
   28  the unused amount may be included in an application for a refund
   29  made pursuant to sub-subparagraph 3.c. in subsequent years
   30  against the total tax payments made for such year. Carryover
   31  credits may be applied for a 3-year period without regard to any
   32  time limitation that would otherwise apply under s. 215.26.
   33         c. A person may not receive more than $200,000 in annual
   34  tax credits for all approved community contributions made in any
   35  one year.
   36         d. All proposals for the granting of the tax credit require
   37  the prior approval of the Department of Economic Opportunity.
   38         e. The total amount of tax credits which may be granted for
   39  all programs approved under this paragraph, s. 220.183, and s.
   40  624.5105 is $10.5 million annually for projects that provide
   41  homeownership opportunities for low-income or very-low-income
   42  households as those terms are defined in s. 420.9071(19) and
   43  (28) and $3.5 million annually for all other projects.
   44         f. A person who is eligible to receive the credit provided
   45  for in this paragraph, s. 220.183, or s. 624.5105 may receive
   46  the credit only under the one section pursuant to of the
   47  person’s choice.
   48         2. Eligibility requirements.—
   49         a. A community contribution by a person must be in the
   50  following form:
   51         (I) Cash or other liquid assets;
   52         (II) Real property;
   53         (III) Goods or inventory; or
   54         (IV) Other physical resources as identified by the
   55  Department of Economic Opportunity.
   56         b. All community contributions must be reserved exclusively
   57  for use in a project. As used in this sub-subparagraph, the term
   58  “project” means any activity undertaken by an eligible sponsor
   59  which is designed to construct, improve, or substantially
   60  rehabilitate housing that is affordable to low-income or very
   61  low-income households as those terms are defined in s.
   62  420.9071(19) and (28); designed to provide commercial,
   63  industrial, or public resources and facilities; or designed to
   64  improve entrepreneurial and job-development opportunities for
   65  low-income persons. A project may be the investment necessary to
   66  increase access to high-speed broadband capability in rural
   67  communities with enterprise zones, including projects that
   68  result in improvements to communications assets that are owned
   69  by a business. A project may include the provision of museum
   70  educational programs and materials that are directly related to
   71  a any project approved between January 1, 1996, and December 31,
   72  1999, and located in an enterprise zone designated pursuant to
   73  s. 290.0065. This paragraph does not preclude projects that
   74  propose to construct or rehabilitate housing for low-income or
   75  very-low-income households on scattered sites. With respect to
   76  housing, contributions may be used to pay the following eligible
   77  low-income and very-low-income housing-related activities:
   78         (I) Project development impact and management fees for low
   79  income or very-low-income housing projects;
   80         (II) Down payment and closing costs for low-income persons
   81  and very-low-income eligible persons, as those terms are defined
   82  in s. 420.9071(19) and (28);
   83         (III) Administrative costs, including housing counseling
   84  and marketing fees, not to exceed 10 percent of the community
   85  contribution, directly related to low-income or very-low-income
   86  projects; and
   87         (IV) Removal of liens recorded against residential property
   88  by municipal, county, or special district local governments if
   89  when satisfaction of the lien is a necessary precedent to the
   90  transfer of the property to a low-income person or very-low-
   91  income an eligible person, as those terms are defined in s.
   92  420.9071(19) and (28), for the purpose of promoting home
   93  ownership. Contributions for lien removal must be received from
   94  a nonrelated third party.
   95         c. The project must be undertaken by an “eligible sponsor,”
   96  which includes:
   97         (I) A community action program;
   98         (II) A nonprofit community-based development organization
   99  whose mission is the provision of housing for low-income or
  100  very-low-income households or increasing entrepreneurial and
  101  job-development opportunities for low-income persons;
  102         (III) A neighborhood housing services corporation;
  103         (IV) A local housing authority created under chapter 421;
  104         (V) A community redevelopment agency created under s.
  105  163.356;
  106         (VI) A historic preservation district agency or
  107  organization;
  108         (VII) A regional workforce board;
  109         (VIII) A direct-support organization as provided in s.
  110  1009.983;
  111         (IX) An enterprise zone development agency created under s.
  112  290.0056;
  113         (X) A community-based organization incorporated under
  114  chapter 617 which is recognized as educational, charitable, or
  115  scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
  116  and whose bylaws and articles of incorporation include
  117  affordable housing, economic development, or community
  118  development as the primary mission of the corporation;
  119         (XI) Units of local government;
  120         (XII) Units of state government; or
  121         (XIII) Any other agency that the Department of Economic
  122  Opportunity designates by rule.
  123  
  124         In no event may A contributing person may not have a
  125  financial interest in the eligible sponsor.
  126         d. The project must be located in an area designated an
  127  enterprise zone or a Front Porch Florida Community, unless the
  128  project increases access to high-speed broadband capability for
  129  rural communities that have with enterprise zones but is
  130  physically located outside the designated rural zone boundaries.
  131  Any project designed to construct or rehabilitate housing for
  132  low-income or very-low-income households as those terms are
  133  defined in s. 420.9071(19) and (28) is exempt from the area
  134  requirement of this sub-subparagraph.
  135         e.(I) If, during the first 10 business days of the state
  136  fiscal year, eligible tax credit applications for projects that
  137  provide homeownership opportunities for low-income households or
  138  very-low-income households as those terms are defined in s.
  139  420.9071(19) and (28) are received for less than the annual tax
  140  credits available for those projects, the Department of Economic
  141  Opportunity shall grant tax credits for those applications and
  142  shall grant remaining tax credits on a first-come, first-served
  143  basis for any subsequent eligible applications received before
  144  the end of the state fiscal year. If, during the first 10
  145  business days of the state fiscal year, eligible tax credit
  146  applications for projects that provide homeownership
  147  opportunities for low-income or very-low-income households as
  148  defined in s. 420.9071(19) and (28) are received for more than
  149  the annual tax credits available for those projects, the
  150  Department of Economic Opportunity shall grant the tax credits
  151  for those applications as follows:
  152         (A) If tax credit applications submitted for approved
  153  projects of an eligible sponsor do not exceed $200,000 in total,
  154  the credits shall be granted in full if the tax credit
  155  applications are approved.
  156         (B) If tax credit applications submitted for approved
  157  projects of an eligible sponsor exceed $200,000 in total, the
  158  amount of tax credits granted pursuant to sub-sub-sub
  159  subparagraph (A) shall be subtracted from the amount of
  160  available tax credits, and the remaining credits shall be
  161  granted to each approved tax credit application on a pro rata
  162  basis.
  163         (II) If, during the first 10 business days of the state
  164  fiscal year, eligible tax credit applications for projects other
  165  than those that provide homeownership opportunities for low
  166  income households or very-low-income households as those terms
  167  are defined in s. 420.9071(19) and (28) are received for less
  168  than the annual tax credits available for those projects, the
  169  Department of Economic Opportunity shall grant tax credits for
  170  those applications and shall grant remaining tax credits on a
  171  first-come, first-served basis for any subsequent eligible
  172  applications received before the end of the state fiscal year.
  173  If, during the first 10 business days of the state fiscal year,
  174  eligible tax credit applications for projects other than those
  175  that provide homeownership opportunities for low-income or very
  176  low-income households as defined in s. 420.9071(19) and (28) are
  177  received for more than the annual tax credits available for
  178  those projects, the Department of Economic Opportunity shall
  179  grant the tax credits for those applications on a pro rata
  180  basis.
  181         3. Application requirements.—
  182         a. Any eligible sponsor seeking to participate in this
  183  program must submit a proposal to the Department of Economic
  184  Opportunity which sets forth the name of the sponsor, a
  185  description of the project, and the area in which the project is
  186  located, together with such supporting information as is
  187  prescribed by rule. The proposal must also contain a resolution
  188  from the local governmental unit in which the project is located
  189  certifying that the project is consistent with local plans and
  190  regulations.
  191         b. Any person seeking to participate in this program must
  192  submit an application for tax credit to the Department of
  193  Economic Opportunity which sets forth the name of the sponsor, a
  194  description of the project, and the type, value, and purpose of
  195  the contribution. The sponsor shall verify, in writing, the
  196  terms of the application and indicate its receipt of the
  197  contribution, which verification must be in writing and
  198  accompany the application for tax credit. The person must submit
  199  a separate tax credit application to the department of Economic
  200  Opportunity for each individual contribution that it makes to
  201  each individual project.
  202         c. Any person who has received notification from the
  203  Department of Economic Opportunity that a tax credit has been
  204  approved must apply to the department to receive the refund.
  205  Application must be made on the form prescribed for claiming
  206  refunds of sales and use taxes and be accompanied by a copy of
  207  the notification. A person may submit only one application for
  208  refund to the department within a any 12-month period.
  209         4. Administration.—
  210         a. The Department of Economic Opportunity may adopt rules
  211  pursuant to ss. 120.536(1) and 120.54 necessary to administer
  212  this paragraph, including rules for the approval or disapproval
  213  of proposals by a person.
  214         b. The decision of the Department of Economic Opportunity
  215  must be in writing, and, if approved, the notification shall
  216  state the maximum credit allowable to the person. Upon approval,
  217  the Department of Economic Opportunity shall transmit a copy of
  218  the decision to the Department of Revenue.
  219         c. The Department of Economic Opportunity shall
  220  periodically monitor all projects in a manner consistent with
  221  available resources to ensure that resources are used in
  222  accordance with this paragraph; however, each project must be
  223  reviewed at least once every 2 years.
  224         d. The Department of Economic Opportunity shall, in
  225  consultation with the statewide and regional housing and
  226  financial intermediaries, market the availability of the
  227  community contribution tax credit program to community-based
  228  organizations.
  229         5. Expiration.—This paragraph expires June 30, 2025 2015;
  230  however, any accrued credit carryover that is unused on that
  231  date may be used until the expiration of the 3-year carryover
  232  period for such credit.
  233         Section 5. Subsection (5) of section 220.183, Florida
  234  Statutes, is amended to read:
  235         220.183 Community contribution tax credit.—
  236         (5) EXPIRATION.—The provisions of this section, except
  237  paragraph (1)(e), shall expire and are be void on June 30, 2025
  238  2015.
  239         Section 6. Subsection (6) of section 624.5105, Florida
  240  Statutes, is amended to read:
  241         624.5105 Community contribution tax credit; authorization;
  242  limitations; eligibility and application requirements;
  243  administration; definitions; expiration.—
  244         (6) EXPIRATION.—The provisions of this section, except
  245  paragraph (1)(e), shall expire and are be void on June 30, 2025
  246  2015.
  247  
  248  ================= T I T L E  A M E N D M E N T ================
  249         And the title is amended as follows:
  250         Delete line 10
  251  and insert:
  252         partnerships and used for affordable housing for
  253         certain income-qualified persons; amending s. 212.08,
  254         F.S.; revising criteria for community contribution tax
  255         credit for donations; amending ss. 220.183 and
  256         624.5105, F.S.; extending the expiration date
  257         applicable to the granting of community contribution
  258         tax credits against the sales and use tax, corporate
  259         income tax, and insurance premium tax for
  260         contributions to eligible sponsors of community
  261         projects approved by the Department of Economic
  262         Opportunity; amending s. 420.507,