HOUSE AMENDMENT
Bill No. HB 443
Amendment No. 04 (for drafter's use only)
CHAMBER ACTION
Senate House
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5 ORIGINAL STAMP BELOW
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11 The Committee on Fiscal Policy & Resources offered the
12 following:
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14 Amendment (with title amendment)
15 On page 4, line 10 of the bill
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17 insert: a new Section 3.
18 Section 3. Paragraph (c) of subsection (4) of section
19 220.15, Florida Statutes, is amended to read:
20 220.15 Apportionment of adjusted federal income.--
21 (4) The payroll factor is a fraction the numerator of
22 which is the total amount paid in this state during the
23 taxable year or period by the taxpayer for compensation and
24 the denominator of which is the total compensation paid
25 everywhere during the taxable year or period.
26 (c) The payroll factor fraction shall not include any
27 compensation paid to any employee located in this state when
28 it is certified to the Department of Revenue that such
29 compensation was paid to employees dedicated exclusively to
30 research and development activities performed pursuant to
31 sponsored research contracts conducted in conjunction with and
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HOUSE AMENDMENT
Bill No. HB 443
Amendment No. 04 (for drafter's use only)
1 through a university that is a member of the State University
2 System or a nonpublic university that is chartered in Florida
3 and conducts graduate programs at the professional or doctoral
4 level. The Board of Regents must certify the contracts for
5 members of the State University System, and the president of
6 the university must certify the contracts for a nonpublic
7 university. As used in this paragraph, "sponsored research
8 contract" means an agreement executed by parties that include
9 at least the university and the taxpayer. Funding for
10 sponsored research contracts may be provided from public or
11 private sources. A taxpayer that receives credit under s.
12 220.192, Florida Statutes, is ineligible to exclude from the
13 payroll factor fraction compensation paid to any employee when
14 that employee is performing research and development
15 activities performed pursuant to sponsored research contracts
16 and acting as an industrial partnership professorship pursuant
17 to s. 240.6055.
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21 And the title is amended as follows:
22 On page 1, line 12
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25 after the semicolon insert:
26 providing a credit limitation; amending s. 220.15, F.S.;
27 providing a limitation on the research and development
28 activity credit;
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