| 1 | A bill to be entitled |
| 2 | An act relating to state incentives in enterprise zones; |
| 3 | amending s. 290.007, F.S.; authorizing eligible businesses |
| 4 | to transfer unused credits; providing requirements and |
| 5 | limitations; providing an effective date. |
| 6 |
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| 7 | Be It Enacted by the Legislature of the State of Florida: |
| 8 |
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| 9 | Section 1. Subsection (9) is added to section 290.007, |
| 10 | Florida Statutes, to read: |
| 11 | 290.007 State incentives available in enterprise |
| 12 | zones.--The following incentives are provided by the state to |
| 13 | encourage the revitalization of enterprise zones: |
| 14 | (9) An eligible business may transfer any unused credit in |
| 15 | whole or in units of no less than 25 percent of the remaining |
| 16 | credit. The entity acquiring such credit may use the credit in |
| 17 | the same manner and with the same limitation as described in ss. |
| 18 | 212.096 and 220.181. Such transferred credits may not be |
| 19 | transferred again but may succeed to a surviving or acquiring |
| 20 | entity subject to the same conditions and limitations described |
| 21 | in this section. |
| 22 | Section 2. This act shall take effect July 1, 2006. |