House Bill hb0443c1

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    Florida House of Representatives - 2001              CS/HB 443

        By the Council for Lifelong Learning and Representatives
    Wallace and McGriff





  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         that certain professorships shall be

  7         established by contract; providing for

  8         contribution by sponsoring corporations;

  9         specifying percentage of such contribution;

10         providing for credit against the corporate

11         income tax for contributions made by a

12         sponsoring corporation; creating s. 220.192,

13         F.S.; providing a credit against the corporate

14         income tax for contributions made by a

15         corporation sponsoring an industrial

16         partnership professorship; providing for

17         carryover of the credit; authorizing rules;

18         providing a limitation on the credit; amending

19         s. 220.15, F.S.; providing that a recipient of

20         an industrial partnership professorship tax

21         credit shall not exclude compensation for

22         specified research and development activities

23         when computing adjusted federal income;

24         amending s. 220.02, F.S.; providing order of

25         credits against the tax; providing for future

26         repeal of ss. 240.6065 and 220.192, F.S.;

27         providing an effective date.

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

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  1         Section 1.  Section 240.6065, Florida Statutes, is

  2  created to read:

  3         240.6065  Industrial partnership professorships.--

  4         (1)  LEGISLATIVE INTENT.--The Legislature recognizes

  5  that while mastery of a formal knowledge base within academic

  6  disciplines is critical to the success of today's university

  7  graduates, there are practical components of many disciplines

  8  which can best and most effectively be transmitted by persons

  9  possessing significant expertise in a particular field gained

10  through years of practical experience.  The Legislature also

11  recognizes that this is particularly true in the case of

12  disciplines in which the rapid pace of technological

13  development quickly renders even the most recent texts and

14  research outdated, and that the availability to students of

15  instructors whose primary vocation is as a practitioner,

16  rather than an academic, can be invaluable.

17         (2)  INDUSTRIAL PARTNERSHIP PROFESSORSHIP

18  PROGRAM.--There is established within the State University

19  System an Industrial Partnership Professorship Program. A

20  maximum of 15 professorships may be established by the Board

21  of Regents or its successor agency for the purpose of bringing

22  into a university setting instructional or research personnel

23  whose formal training and experiential backgrounds are not

24  primarily those required of traditional university faculty or

25  instructional personnel.

26         (a)  Industrial partnership professorships shall be

27  established at any university within the State University

28  System by means of a contract between the university and a

29  corporation or corporations agreeing to sponsor the

30  professorship. A contract for an industrial partnership

31  professorship shall be for a sponsorship minimum of 1 year and

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  1  may be renewed for additional periods. The contract must

  2  include the terms and conditions of employment of an

  3  industrial partnership professor and the amount the sponsoring

  4  corporation or corporations are to contribute on a yearly

  5  basis to the establishment and maintenance of the

  6  professorship. The sponsoring corporation shall provide

  7  two-thirds of the costs of each professorship and the State

  8  University System shall provide one-third.

  9         (b)  Total expenditures by the State University System

10  for the Industrial Partnership Professorship Program may not

11  exceed $500,000 in any fiscal year.

12         (c)  The university may use existing personnel

13  classifications as appropriate for the duties of the

14  industrial partnership professor.

15         (d)  In consideration for sponsoring an industrial

16  partnership professorship, the corporation or corporations

17  sponsoring the professorship shall be allowed an annual credit

18  against the corporate income tax, as provided in s. 220.192,

19  for one-half of the amount contributed to the establishment

20  and maintenance of an industrial partnership professorship

21  during any year.

22         (e)  Corporations may qualify for the industrial

23  partnership professorship tax credit, as provided for in s.

24  220.192, by establishing a partnership with an education

25  department at any university within the State University

26  System for the purpose of increasing opportunities for

27  students to be trained to become instructional classroom

28  professionals.

29         (3)  The Board of Regents or its successor agency may

30  adopt rules to administer this section.

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  1         Section 2.  Section 220.192, Florida Statutes, is

  2  created to read:

  3         220.192  Industrial partnership professorship tax

  4  credit.--

  5         (1)  A credit against the tax imposed by this chapter

  6  shall be allowed to any private corporation that enters into a

  7  contract with a university within the State University System

  8  for the establishment of an industrial partnership

  9  professorship as provided in s. 240.6065, which credit shall

10  be equal to one-half of the amount of such corporation's

11  contribution during the calendar year to the establishment and

12  maintenance of an industrial partnership professorship.

13         (2)  If any credit granted pursuant to this section is

14  not fully used in the first year for which it becomes

15  available, the unused amount may be carried forward for a

16  period not to exceed 5 years.  The carryover may be used in a

17  subsequent year when the tax imposed by this chapter for such

18  year exceeds the credit for such year under this section after

19  applying the other credits and unused credit carryovers in the

20  order provided in s. 220.02(8).

21         (3)  A taxpayer that has excluded any compensation from

22  the payroll factor fraction pursuant to s. 220.15(4)(c) is

23  ineligible to receive credit pursuant to this section for the

24  same employee when that employee is performing research and

25  development activities performed pursuant to sponsored

26  research contracts and acting as an industrial partnership

27  professor pursuant to s. 240.6065.

28         (4)  The Department of Revenue is authorized to adopt

29  rules pursuant to ss. 120.54 and 120.536(1) to administer this

30  section.

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  1         Section 3.  Paragraph (c) of subsection (4) of section

  2  220.15, Florida Statutes, is amended to read:

  3         220.15  Apportionment of adjusted federal income.--

  4         (4)  The payroll factor is a fraction the numerator of

  5  which is the total amount paid in this state during the

  6  taxable year or period by the taxpayer for compensation and

  7  the denominator of which is the total compensation paid

  8  everywhere during the taxable year or period.

  9         (c)  The payroll factor fraction shall not include any

10  compensation paid to any employee located in this state when

11  it is certified to the Department of Revenue that such

12  compensation was paid to employees dedicated exclusively to

13  research and development activities performed pursuant to

14  sponsored research contracts conducted in conjunction with and

15  through a university that is a member of the State University

16  System or a nonpublic university that is chartered in Florida

17  and conducts graduate programs at the professional or doctoral

18  level. The Board of Regents must certify the contracts for

19  members of the State University System, and the president of

20  the university must certify the contracts for a nonpublic

21  university. As used in this paragraph, "sponsored research

22  contract" means an agreement executed by parties that include

23  at least the university and the taxpayer. Funding for

24  sponsored research contracts may be provided from public or

25  private sources.  A taxpayer that receives credit under s.

26  220.192 shall not exclude from the payroll factor fraction

27  compensation paid to any employee when that employee is

28  performing research and development activities performed

29  pursuant to sponsored research contracts and acting as an

30  industrial partnership professor pursuant to s. 240.6055.

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  1         Section 4.  Subsection (8) of section 220.02, Florida

  2  Statutes, is amended to read:

  3         220.02  Legislative intent.--

  4         (8)  It is the intent of the Legislature that credits

  5  against either the corporate income tax or the franchise tax

  6  be applied in the following order: those enumerated in s.

  7  631.828, those enumerated in s. 220.191, those enumerated in

  8  s. 220.181, those enumerated in s. 220.183, those enumerated

  9  in s. 220.182, those enumerated in s. 220.1895, those

10  enumerated in s. 221.02, those enumerated in s. 220.184, those

11  enumerated in s. 220.186, those enumerated in s. 220.1845,

12  those enumerated in s. 220.19, and those enumerated in s.

13  220.185, and those enumerated in s. 220.192.

14         Section 5.  Sections 240.6065 and 220.192, Florida

15  Statutes, as created by this act are repealed July 1, 2011.

16         Section 6.  This act shall take effect July 1, 2001.

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