House Bill 0727
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Florida House of Representatives - 2000 HB 727
By Representative Wallace
1 A bill to be entitled
2 An act relating to the State University System;
3 creating s. 240.6065, F.S.; establishing the
4 Industrial Partnership Professorship Program
5 within the State University System; providing
6 legislative intent; providing that the
7 professorships shall be established by
8 contract; providing for contribution by
9 sponsoring corporations; providing contract
10 specifications; providing for credit against
11 the corporate income tax for contributions made
12 by a sponsoring corporation; creating s.
13 220.192, F.S.; providing a credit against the
14 corporate income tax for contributions made by
15 a corporation sponsoring an industrial
16 partnership professorship; providing for
17 carryover of the credit; authorizing rules;
18 amending s. 220.02, F.S.; providing order of
19 credits against the tax; providing for future
20 repeal of ss. 240.6065 and 220.192, F.S.;
21 providing an effective date.
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23 Be It Enacted by the Legislature of the State of Florida:
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25 Section 1. Section 240.6065, Florida Statutes, is
26 created to read:
27 240.6065 Industrial partnership professorships.--
28 (1) LEGISLATIVE INTENT.--The Legislature recognizes
29 that while mastery of a formal knowledge base within academic
30 disciplines is critical to the success of today's university
31 graduates, there are practical components of many disciplines
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1 which can best and most effectively be transmitted by persons
2 possessing significant expertise in a particular field gained
3 through years of practical experience. The Legislature also
4 recognizes that this is particularly true in the case of
5 disciplines in which the rapid pace of technological
6 development quickly renders even the most recent texts and
7 research outdated, and that the availability to students of
8 instructors whose primary vocation is as a practitioner,
9 rather than an academic, can be invaluable.
10 (2) INDUSTRIAL PARTNERSHIP PROFESSORSHIP
11 PROGRAM.--There is established within the State University
12 System an Industrial Partnership Professorship Program. A
13 maximum of 20 industrial partnership professorships may be
14 established by the Board of Regents in any discipline for the
15 purpose of bringing into a university setting instructional or
16 research personnel whose formal training and experiential
17 backgrounds are not primarily those required of traditional
18 university faculty or instructional personnel.
19 (a) Industrial partnership professorships shall be
20 established at any university within the State University
21 System by means of a contract between the university and a
22 corporation or corporations agreeing to sponsor the
23 professorship. A contract for an industrial partnership
24 professorship shall be for a sponsorship minimum of 1 year and
25 may be renewed for additional periods. The contract must
26 include the terms and conditions of employment of an
27 industrial partnership professor and the amount the sponsoring
28 corporation or corporations are to contribute on a yearly
29 basis to the establishment and maintenance of the
30 professorship.
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1 (b) Total expenditures by the State University System
2 for the Industrial Partnership Professorship Program shall not
3 exceed $500,000 in any fiscal year.
4 (c) The university may use existing personnel
5 classifications as appropriate for the duties of the
6 industrial partnership professor.
7 (d) In consideration for sponsoring an industrial
8 partnership professorship, the corporation or corporations
9 sponsoring the professorship shall be allowed an annual credit
10 against the corporate income tax, as provided in s. 220.192,
11 for 50 percent of the amount contributed to the establishment
12 and maintenance of an industrial partnership professorship
13 during any calendar year.
14 Section 2. Section 220.192, Florida Statutes, is
15 created to read:
16 220.192 Industrial partnership professorship tax
17 credit.--
18 (1) A credit against the tax imposed by this chapter
19 shall be allowed to any private corporation that enters into a
20 contract with a university within the State University System
21 for the establishment of an industrial partnership
22 professorship as provided in s. 240.6065, which credit shall
23 be equal to 50 percent of the amount of such corporation's
24 contribution during the calendar year to the establishment and
25 maintenance of an industrial partnership professorship.
26 (2) If any credit granted pursuant to this section is
27 not fully used in the first year for which it becomes
28 available, the unused amount may be carried forward for a
29 period not to exceed 5 years. The carryover may be used in a
30 subsequent year when the tax imposed by this chapter for such
31 year exceeds the credit for such year under this section after
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1 applying the other credits and unused credit carryovers in the
2 order provided in s. 220.02(10).
3 (3) The Department of Revenue may adopt rules to
4 administer this section.
5 Section 3. Subsection (10) of section 220.02, Florida
6 Statutes, is amended to read:
7 220.02 Legislative intent.--
8 (10) It is the intent of the Legislature that credits
9 against either the corporate income tax or the franchise tax
10 be applied in the following order: those enumerated in s.
11 220.18, those enumerated in s. 631.828, those enumerated in s.
12 220.191, those enumerated in s. 220.181, those enumerated in
13 s. 220.183, those enumerated in s. 220.182, those enumerated
14 in s. 220.1895, those enumerated in s. 221.02, those
15 enumerated in s. 220.184, those enumerated in s. 220.186,
16 those enumerated in s. 220.188, those enumerated in s.
17 220.1845, those enumerated in s. 220.19, and those enumerated
18 in s. 220.185, and those enumerated in s. 220.192.
19 Section 4. Sections 240.6065 and 220.192, Florida
20 Statutes, as created by this act, are repealed July 1, 2010.
21 Section 5. This act shall take effect July 1, 2000.
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2 HOUSE SUMMARY
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Establishes the Industrial Partnership Professorship
4 Program within the State University System for the
purpose of bringing into a university setting
5 instructional or research personnel whose formal training
and experiential backgrounds are not primarily those of
6 traditional university faculty or instructional
personnel. Provides for a maximum of 20 industrial
7 partnership professorships to be established by the Board
of Regents. Provides that such professorships shall be
8 established by contract between the university and the
sponsoring corporations. Specifies that contracts shall
9 be for a minimum period of 1 year, and may be renewed for
additional periods. Limits total program expenditures to
10 $500,000 in any fiscal year. Provides for credit against
the corporate income tax for 50 percent of the yearly
11 total cost of establishing and maintaining the
professorship. Provides for carryover of the credit.
12 Authorizes the Department of Revenue to adopt rules to
administer the tax credit. Provides order of credits
13 against the tax.
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