HOUSE AMENDMENT Bill No. CS/CS/SB 1712
1	CHAMBER ACTION
2	Senate House
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12	Representative Mack offered the following:
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14	Amendment (with title amendment)
15	On page 2429, between line(s) 7 and 8,
16	insert:
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18	Section 1978. Paragraph (c) of subsection (7) and
19	subsection (17) of section 288.99, Florida Statutes, are amended
20	to read:
21	288.99 Certified Capital Company Act.--
22	(7) ANNUAL TAX CREDIT; MAXIMUM AMOUNT; ALLOCATION
23	PROCESS.--
24	(c) Each certified capital company must apply to the
25	office for an allocation of premium tax credits for potential
26	certified investors on a form developed by the office with the
27	cooperation of the Department of Revenue. The form shall be
28	accompanied by an affidavit from each potential certified
29	investor confirming that the potential certified investor has
30	agreed to make an investment of certified capital in a certified
31	capital company up to a specified amount, subject only to the
32	receipt of a premium tax credit allocation pursuant to this
33	subsection. No certified capital company shall submit premium
34	tax allocation claims on behalf of certified investors that in
35	the aggregate would exceed the total dollar amount set forth in
36	this subsectionappropriated by the Legislature for athe
37	specific program. No allocation shall be made to the potential
38	investors of a certified capital company under Program Two
39	unless such certified capital company has filed premium tax
40	allocation claims of not less than $15 million in the aggregate.
41	(17) Notwithstanding the limitations set forth in
42	paragraph (7)(a), in the first fiscal year in which the total
43	insurance premium tax collections as determined by the Revenue
44	Estimating Conference exceed collections for fiscal year 2000-
45	2001 by more than the total amount of tax credits issued
46	pursuant to this section which were used by certified investors
47	in that year, the office shallmayallocate to certified
48	investors in accordance with paragraph (7)(a) tax credits for
49	Program Two. The department shall establish, by rule, a date and
50	procedures by which certified capital companies must file
51	applications for allocations of such additional premium tax
52	credits, which date shall be no later than 180 days from the
53	date of determination by the Revenue Estimating Conference. With
54	respect to new certified capital invested and premium tax
55	credits earned pursuant to this subsection, the schedule
56	specified in subparagraphs (5)(a)1.-4. is satisfied by
57	investments by December 31 of the 2nd, 3rd, 4th, and 5th
58	calendar year, respectively, after the date established by the
59	department for applications of additional premium tax credits.
60	The department shall adopt rules by which an entity not already
61	certified as a certified capital company may apply for
62	certification as a certified capital company for participation
63	in this additional allocation. The insurance premium tax credit
64	authorized by Program Two may not be used by certified investors
65	until the annual return due March 1, 20062004, and may be used
66	on all subsequent returns and estimated payments; however,
67	notwithstanding the provisions of s. 624.5092(2)(b), the
68	installments of taxes due and payable on April 15, 2004, and
69	June 15, 2004, shall be based on the net tax due in 2003 not
70	taking into account credits granted pursuant to this section for
71	Program Two.
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73	================= T I T L E A M E N D M E N T =================
74	On page 14, line(s) 11,
75	after the semicolon, insert:
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77	amending s. 288.99, F.S.; requiring the Office of Tourism,
78	Trade, and Economic Development to allocate certain Program Two
79	tax credits to certified investors under the Certified Capital
80	Company Act; deleting provisions authorizing use of certain
81	insurance premium tax credits on certain returns and estimated
82	payments;