Senate Bill 0192c1

    Florida Senate - 1998                            CS for SB 192

    By the Committee on Ways and Means; and Senator Horne





    301-2246-98

  1                      A bill to be entitled

  2         An act relating to community contribution tax

  3         credits; amending ss. 220.183 and 624.5105,

  4         F.S.; increasing the annual limitation on the

  5         amount of such credits which may be granted

  6         against the corporate income tax and insurance

  7         premium taxes; providing an effective date.

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  9  Be It Enacted by the Legislature of the State of Florida:

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11         Section 1.  Paragraph (c) of subsection (3) of section

12  220.183, Florida Statutes, is amended to read:

13         220.183  Community contribution tax credit.--

14         (3)  AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX

15  CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM

16  SPENDING.--

17         (c)  The total amount of tax credit which may be

18  granted for all programs approved under this section and s.

19  624.5105 is $5 $2 million annually.

20         Section 2.  Paragraph (c) of subsection (3) of section

21  624.5105, Florida Statutes, is amended to read:

22         624.5105  Community contribution tax credit;

23  legislative findings; policy and purpose; authorization;

24  limitations; eligibility and application requirements;

25  administration; definitions; expiration.--

26         (3)  AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--

27         (c)  The total amount of tax credit which may be

28  granted for all programs approved under this section and s.

29  220.183 is $5 $2 million annually.

30         Section 3.  This act shall take effect July 1 of the

31  year in which enacted.

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






    Florida Senate - 1998                            CS for SB 192
    301-2246-98




  1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
  2                              SB 192

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  4  This committee substitute provides for a $5 million cap on
    community contribution tax credits, instead of $10 million as
  5  provided by the original bill.

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