HB 7207

1	A bill to be entitled
2	An act relating to trust funds; terminating specified
3	trust funds within the Office of Tourism, Trade, and
4	Economic Development of the Executive Office of the
5	Governor; terminating specified trust funds within the
6	State Treasury; providing for the disposition of balances
7	in and revenues of such trust funds; prescribing
8	procedures for the termination of such trust funds;
9	amending s. 17.61, F.S., relating to specified trust funds
10	within the Executive Office of the Governor which must
11	retain moneys therein for investment, with interest
12	appropriated to the General Revenue Fund; eliminating the
13	Economic Development Transportation Trust Fund and the
14	Economic Development Trust Fund from such trust funds;
15	amending s. 201.15, F.S.; revising the distribution of
16	excise taxes on documents; providing for specified
17	distributions of funds to the State Economic Enhancement
18	and Development Trust Fund in the Office of Tourism,
19	Trade, and Economic Development of the Executive Office of
20	the Governor; eliminating distributions to the State
21	Transportation Trust Fund and the State Housing Trust
22	Fund, and specified uses of such distributions; requiring
23	the Revenue Estimating Conference to maintain separate
24	accounting of specified proceeds; providing for
25	applicability of a specified sufficiency requirement with
26	respect to distributions to the State Economic Enhancement
27	and Development Trust Fund; amending s. 212.0606, F.S.;
28	revising distribution of the proceeds from the rental car
29	surcharge; providing for elimination of the distribution
30	of the proceeds of the surcharge to the Tourism
31	Promotional Trust Fund and the Florida International Trade
32	and Promotion Trust Fund, and for distribution of the
33	proceeds of the surcharge to the State Economic
34	Enhancement and Development Trust Fund; amending ss.
35	288.095 and 288.120, F.S.; eliminating provisions
36	governing the Economic Development Trust Fund within the
37	Office of Tourism, Trade, and Economic Development of the
38	Executive Office of the Governor, relating to the Economic
39	Development Incentives Account within the trust fund,
40	approval of applications for certification by the Office
41	of Tourism, Trade, and Economic Development, limitations
42	on the total amount of tax refund claims approved for
43	payment by the office, procedure for payment of claims for
44	tax refunds under the qualified defense contractor and
45	space flight business tax refund program and the tax
46	refund program for qualified target industry businesses,
47	notification to the Legislature by the office of
48	anticipated shortfalls in the amount of funds needed to
49	satisfy claims for tax refunds from the appropriation for
50	the current fiscal year, a required annual report compiled
51	by Enterprise Florida, Inc., restrictions on uses of
52	moneys in the Economic Development Incentives Account of
53	the trust fund, and the adoption of specified rules by the
54	office, and transferring those provisions to the State
55	Economic Enhancement and Development Trust Fund; amending
56	ss. 288.1045, 288.106, 288.107, 288.1089, 288.7771,
57	288.95155, and 373.461, F.S.; replacing references to the
58	Economic Development Trust Fund in the Executive Office of
59	the Governor with references to State Economic Enhancement
60	and Development Trust Fund, and correcting cross-
61	references, to conform; repealing s. 288.1221, F.S.; which
62	provides legislative intent with respect to the
63	establishment of a public-private partnership to provide
64	policy direction to and technical expertise in the
65	promotion and marketing of state tourism; providing for
66	conforming legislation; providing for assistance to
67	certain legislative substantive committees by the Division
68	of Statutory Revision of the Office of Legislative
69	Services for certain purposes; providing a conditional
70	effective date.
71
72	Be It Enacted by the Legislature of the State of Florida:
73
74	Section 1.  (1)(a)  The following trust funds within the
75	Office of Tourism, Trade, and Economic Development of the
76	Executive Office of the Governor are terminated:
77	1.  The Economic Development Transportation Trust Fund,
78	FLAIR number 31-2-175.
79	2.  The Economic Development Trust Fund, FLAIR number 31-2-
80	177.
81	3.  The Florida International Trade and Promotion Trust
82	Fund, FLAIR number 31-2-388.
83	4.  The Tourism Promotion Trust Fund, FLAIR number 31-2-
84	722.
85	(b)  All current balances remaining in the trust funds on
86	the date of termination pursuant to this section shall be
87	transferred to the State Economic Enhancement and Development
88	Trust Fund within the Office of Tourism, Trade, and Economic
89	Development of the Executive Office of the Governor.
90	(c)  The Executive Office of the Governor shall pay any
91	outstanding debts and obligations of the terminated funds as
92	soon as practicable, and the Chief Financial Officer shall close
93	out and remove the terminated funds from various state
94	accounting systems using generally accepted accounting
95	principles concerning warrants outstanding, assets, and
96	liabilities.
97	(2)(a)  Effective July 1, 2012, the following trust funds
98	within the State Treasury are terminated:
99	1.  The Local Government Housing Trust Fund, FLAIR number
100	52-2-250.
101	2.  The State Housing Trust Fund, FLAIR number 52-2-255.
102	(b)  All current balances remaining in the trust funds on
103	the date of termination pursuant to this section shall be
104	transferred to the State Economic Enhancement and Development
105	Trust Fund within the Office of Tourism, Trade, and Economic
106	Development of the Executive Office of the Governor.
107	(c)  The Department of Community Affairs shall pay any
108	outstanding debts and obligations of the terminated funds as
109	soon as practicable, and the Chief Financial Officer shall close
110	out and remove the terminated funds from various state
111	accounting systems using generally accepted accounting
112	principles concerning warrants outstanding, assets, and
113	liabilities.
114	Section 2.  Paragraph (c) of subsection (3) of section
115	17.61, Florida Statutes, is amended to read:
116	17.61  Chief Financial Officer; powers and duties in the
117	investment of certain funds.-
118	(3)
119	(c)  Except as provided in this paragraph and except for
120	moneys described in paragraph (d), the following agencies may
121	not invest trust fund moneys as provided in this section, but
122	shall retain such moneys in their respective trust funds for
123	investment, with interest appropriated to the General Revenue
124	Fund, pursuant to s. 17.57:
125	1.  The Agency for Health Care Administration, except for
126	the Tobacco Settlement Trust Fund.
127	2.  The Agency for Persons with Disabilities, except for:
128	a.  The Federal Grants Trust Fund.
129	b.  The Tobacco Settlement Trust Fund.
130	3.  The Department of Children and Family Services, except
131	for:
132	a.  The Alcohol, Drug Abuse, and Mental Health Trust Fund.
133	b.  The Social Services Block Grant Trust Fund.
134	c.  The Tobacco Settlement Trust Fund.
135	d.  The Working Capital Trust Fund.
136	4.  The Department of Community Affairs, only for the
137	Operating Trust Fund.
138	5.  The Department of Corrections.
139	6.  The Department of Elderly Affairs, except for:
140	a.  The Federal Grants Trust Fund.
141	b.  The Tobacco Settlement Trust Fund.
142	7.  The Department of Health, except for:
143	a.  The Federal Grants Trust Fund.
144	b.  The Grants and Donations Trust Fund.
145	c.  The Maternal and Child Health Block Grant Trust Fund.
146	d.  The Tobacco Settlement Trust Fund.
147	8.  The Department of Highway Safety and Motor Vehicles,
148	only for the Security Deposits Trust Fund.
149	9.  The Department of Juvenile Justice.
150	10.  The Department of Law Enforcement.
151	11.  The Department of Legal Affairs.
152	12.  The Department of State, only for:
153	a.  The Grants and Donations Trust Fund.
154	b.  The Records Management Trust Fund.
155	13.  The Executive Office of the Governor, only for:
156	a.  The Economic Development Transportation Trust Fund.
157	b.  The Economic Development Trust Fund.
158	13.14.  The Florida Public Service Commission, only for the
159	Florida Public Service Regulatory Trust Fund.
160	14.15.  The Justice Administrative Commission.
161	15.16.  The state courts system.
162	Section 3.  Effective July 1, 2012, subsections (1), (9),
163	(10), (13), (14), and (15) of section 201.15, Florida Statutes,
164	are amended to read:
165	201.15  Distribution of taxes collected.-All taxes
166	collected under this chapter are subject to the service charge
167	imposed in s. 215.20(1). Prior to distribution under this
168	section, the Department of Revenue shall deduct amounts
169	necessary to pay the costs of the collection and enforcement of
170	the tax levied by this chapter. Such costs and the service
171	charge may not be levied against any portion of taxes pledged to
172	debt service on bonds to the extent that the costs and service
173	charge are required to pay any amounts relating to the bonds.
174	After distributions are made pursuant to subsection (1), all of
175	the costs of the collection and enforcement of the tax levied by
176	this chapter and the service charge shall be available and
177	transferred to the extent necessary to pay debt service and any
178	other amounts payable with respect to bonds authorized before
179	January 1, 2010, secured by revenues distributed pursuant to
180	subsection (1). All taxes remaining after deduction of costs and
181	the service charge shall be distributed as follows:
182	(1)  Sixty-three and thirty-one hundredths percent of the
183	remaining taxes shall be used for the following purposes:
184	(a)  Amounts necessary to pay the debt service on, or fund
185	debt service reserve funds, rebate obligations, or other amounts
186	payable with respect to Preservation 2000 bonds issued pursuant
187	to s. 375.051 and Florida Forever bonds issued pursuant to s.
188	215.618, shall be paid into the State Treasury to the credit of
189	the Land Acquisition Trust Fund to be used for such purposes.
190	The amount transferred to the Land Acquisition Trust Fund may
191	not exceed $300 million in fiscal year 1999-2000 and thereafter
192	for Preservation 2000 bonds and bonds issued to refund
193	Preservation 2000 bonds, and $300 million in fiscal year 2000-
194	2001 and thereafter for Florida Forever bonds. The annual amount
195	transferred to the Land Acquisition Trust Fund for Florida
196	Forever bonds may not exceed $30 million in the first fiscal
197	year in which bonds are issued. The limitation on the amount
198	transferred shall be increased by an additional $30 million in
199	each subsequent fiscal year, but may not exceed a total of $300
200	million in any fiscal year for all bonds issued. It is the
201	intent of the Legislature that all bonds issued to fund the
202	Florida Forever Act be retired by December 31, 2040. Except for
203	bonds issued to refund previously issued bonds, no series of
204	bonds may be issued pursuant to this paragraph unless such bonds
205	are approved and the debt service for the remainder of the
206	fiscal year in which the bonds are issued is specifically
207	appropriated in the General Appropriations Act. For purposes of
208	refunding Preservation 2000 bonds, amounts designated within
209	this section for Preservation 2000 and Florida Forever bonds may
210	be transferred between the two programs to the extent provided
211	for in the documents authorizing the issuance of the bonds. The
212	Preservation 2000 bonds and Florida Forever bonds are equally
213	and ratably secured by moneys distributable to the Land
214	Acquisition Trust Fund pursuant to this section, except as
215	specifically provided otherwise by the documents authorizing the
216	issuance of the bonds. Moneys transferred to the Land
217	Acquisition Trust Fund pursuant to this paragraph, or earnings
218	thereon, may not be used or made available to pay debt service
219	on the Save Our Coast revenue bonds.
220	(b)  Moneys shall be paid into the State Treasury to the
221	credit of the Save Our Everglades Trust Fund in amounts
222	necessary to pay debt service, provide reserves, and pay rebate
223	obligations and other amounts due with respect to bonds issued
224	under s. 215.619. Taxes distributed under paragraph (a) and this
225	paragraph must be collectively distributed on a pro rata basis
226	when the available moneys under this subsection are not
227	sufficient to cover the amounts required under paragraph (a) and
228	this paragraph.
229	(c)  After the required payments under paragraphs (a) and
230	(b), the remainder shall be paid into the State Treasury to the
231	credit of:
232	1.  The State Economic Enhancement and Development Trust
233	Fund in the Office of Tourism, Trade, and Economic Development
234	of the Executive Office of the Governor State Transportation
235	Trust Fund in the Department of Transportation in the amount of
236	the lesser of 38.2 percent of the remainder or $541.75 million
237	in each fiscal year. The Revenue Estimating Conference shall
238	maintain separate accounting of proceeds that would be
239	attributed to the State Transportation Trust Fund based on
240	distributions pursuant to this subparagraph as in effect on June
241	30, 2012. , to be used for the following specified purposes,
242	notwithstanding any other law to the contrary:
243	a.  For the purposes of capital funding for the New Starts
244	Transit Program, authorized by Title 49, U.S.C. s. 5309 and
245	specified in s. 341.051, 10 percent of these funds;
246	b.  For the purposes of the Small County Outreach Program
247	specified in s. 339.2818, 5 percent of these funds. Effective
248	July 1, 2014, the percentage allocated under this sub-
249	subparagraph shall be increased to 10 percent;
250	c.  For the purposes of the Strategic Intermodal System
251	specified in ss. 339.61, 339.62, 339.63, and 339.64, 75 percent
252	of these funds after allocating for the New Starts Transit
253	Program described in sub-subparagraph a. and the Small County
254	Outreach Program described in sub-subparagraph b.; and
255	d.  For the purposes of the Transportation Regional
256	Incentive Program specified in s. 339.2819, 25 percent of these
257	funds after allocating for the New Starts Transit Program
258	described in sub-subparagraph a. and the Small County Outreach
259	Program described in sub-subparagraph b. Effective July 1, 2014,
260	the first $60 million of the funds allocated pursuant to this
261	sub-subparagraph shall be allocated annually to the Florida Rail
262	Enterprise for the purposes established in s. 341.303(5).
263	2.  The Grants and Donations Trust Fund in the Department
264	of Community Affairs in the amount of the lesser of .23 percent
265	of the remainder or $3.25 million in each fiscal year to fund
266	technical assistance to local governments and school boards on
267	the requirements and implementation of this act.
268	3.  The Ecosystem Management and Restoration Trust Fund in
269	the amount of the lesser of 2.12 percent of the remainder or $30
270	million in each fiscal year, to be used for the preservation and
271	repair of the state's beaches as provided in ss. 161.091-
272	161.212.
273	4.  General Inspection Trust Fund in the amount of the
274	lesser of .02 percent of the remainder or $300,000 in each
275	fiscal year to be used to fund oyster management and restoration
276	programs as provided in s. 379.362(3).
277
278	Moneys distributed pursuant to this paragraph may not be pledged
279	for debt service unless such pledge is approved by referendum of
280	the voters.
281	(d)  After the required payments under paragraphs (a), (b),
282	and (c), the remainder shall be paid into the State Treasury to
283	the credit of the General Revenue Fund to be used and expended
284	for the purposes for which the General Revenue Fund was created
285	and exists by law.
286	(9)  Sixteen and nineteen hundredths The lesser of 7.53
287	percent of the remaining taxes or $107 million in each fiscal
288	year shall be paid into the State Treasury to the credit of the
289	State Economic Enhancement and Development Trust Fund in the
290	Office of Tourism, Trade, and Economic Development of the
291	Executive Office of the Governor. The Revenue Estimating
292	Conference shall maintain separate accounting of proceeds that
293	would be attributed to the State Housing Trust Fund and the
294	Local Government Housing Trust Fund based on distributions
295	pursuant to this subsection as in effect on June 30, 2012.
296	State Housing Trust Fund and used as follows:
297	(a)  Half of that amount shall be used for the purposes for
298	which the State Housing Trust Fund was created and exists by
299	law.
300	(b)  Half of that amount shall be paid into the State
301	Treasury to the credit of the Local Government Housing Trust
302	Fund and used for the purposes for which the Local Government
303	Housing Trust Fund was created and exists by law.
304	(10)  The lesser of 8.66 percent of the remaining taxes or
305	$136 million in each fiscal year shall be paid into the State
306	Treasury to the credit of the State Housing Trust Fund and used
307	as follows:
308	(a)  Twelve and one-half percent of that amount shall be
309	deposited into the State Housing Trust Fund and be expended by
310	the Department of Community Affairs and by the Florida Housing
311	Finance Corporation for the purposes for which the State Housing
312	Trust Fund was created and exists by law.
313	(b)  Eighty-seven and one-half percent of that amount shall
314	be distributed to the Local Government Housing Trust Fund and
315	used for the purposes for which the Local Government Housing
316	Trust Fund was created and exists by law. Funds from this
317	category may also be used to provide for state and local
318	services to assist the homeless.
319	(13)  In each fiscal year that the remaining taxes exceed
320	collections in the prior fiscal year, the stated maximum dollar
321	amounts provided in subsections (2), (4), (6), (7), and (9), and
322	(10) shall each be increased by an amount equal to 10 percent of
323	the increase in the remaining taxes collected under this chapter
324	multiplied by the applicable percentage provided in those
325	subsections.
326	(14)  If the payment requirements in any year for bonds
327	outstanding on July 1, 2007, or bonds issued to refund such
328	bonds, exceed the limitations of this section, distributions to
329	the trust fund from which the bond payments are made must be
330	increased to the lesser of the amount needed to pay bond
331	obligations or the limit of the applicable percentage
332	distribution provided in subsections (1)-(8) (1)-(10).
333	(15)  Distributions to the State Economic Enhancement and
334	Development Trust Fund in the Office of Tourism, Trade, and
335	Economic Development of the Executive Office of the Governor
336	State Housing Trust Fund pursuant to subsection subsections (9)
337	and (10) must be sufficient to cover amounts required to be
338	transferred to the Florida Affordable Housing Guarantee
339	Program's annual debt service reserve and guarantee fund
340	pursuant to s. 420.5092(6)(a) and (b) up to the amount required
341	to be transferred to such reserve and fund based on the
342	percentage distribution of documentary stamp tax revenues to the
343	State Housing Trust Fund which is in effect in the 2004-2005
344	fiscal year.
345	Section 4.  Section 212.0606, Florida Statutes, is amended
346	to read:
347	212.0606  Rental car surcharge.-
348	(1)  A surcharge of $2.00 per day or any part of a day is
349	imposed upon the lease or rental of a motor vehicle licensed for
350	hire and designed to carry less than nine passengers regardless
351	of whether such motor vehicle is licensed in Florida. The
352	surcharge applies to only the first 30 days of the term of any
353	lease or rental. The surcharge is subject to all applicable
354	taxes imposed by this chapter.
355	(2)(a)  Notwithstanding the provisions of section 212.20,
356	and less costs of administration, 80 percent of the proceeds of
357	this surcharge shall be deposited in the State Transportation
358	Trust Fund and 20 percent of the proceeds of this surcharge
359	shall be deposited in the State Economic Enhancement and
360	Development Trust Fund in the Office of Tourism, Trade, and
361	Economic Development of the Executive Office of the Governor. ,
362	15.75 percent of the proceeds of this surcharge shall be
363	deposited in the Tourism Promotional Trust Fund created in s.
364	288.122, and 4.25 percent of the proceeds of this surcharge
365	shall be deposited in the Florida International Trade and
366	Promotion Trust Fund. For the purposes of this subsection,
367	"proceeds" of the surcharge means all funds collected and
368	received by the department under this section, including
369	interest and penalties on delinquent surcharges. The department
370	shall provide the Office of Tourism, Trade, and Economic
371	Development of the Executive Office of the Governor and
372	Department of Transportation rental car surcharge revenue
373	information for the previous state fiscal year by September 1 of
374	each year.
375	(b)  Notwithstanding any other provision of law, in fiscal
376	year 2007-2008 and each year thereafter, the proceeds deposited
377	in the State Transportation Trust Fund shall be allocated on an
378	annual basis in the Department of Transportation's work program
379	to each department district, except the Turnpike District. The
380	amount allocated for each district shall be based upon the
381	amount of proceeds attributed to the counties within each
382	respective district.
383	Section 5.  Subsections (2) and (3) of section 288.095,
384	Florida Statutes, are amended to read:
385	288.095  Economic Development Trust Fund.-
386	(2)  There is created, within the Economic Development
387	Trust Fund, the Economic Development Incentives Account. The
388	Economic Development Incentives Account consists of moneys
389	appropriated to the account for purposes of the tax incentives
390	programs authorized under ss. 288.1045 and 288.106, and local
391	financial support provided under ss. 288.1045 and 288.106.
392	Moneys in the Economic Development Incentives Account shall be
393	subject to the provisions of s. 216.301(1)(a).
394	(3)(a)  The Office of Tourism, Trade, and Economic
395	Development may approve applications for certification pursuant
396	to ss. 288.1045(3) and 288.106. However, the total state share
397	of tax refund payments scheduled in all active certifications
398	for fiscal year 2001-2002 may not exceed $30 million. The total
399	for each subsequent fiscal year may not exceed $35 million.
400	(b)  The total amount of tax refund claims approved for
401	payment by the Office of Tourism, Trade, and Economic
402	Development based on actual project performance may not exceed
403	the amount appropriated to the Economic Development Incentives
404	Account for such purposes for the fiscal year. Claims for tax
405	refunds under ss. 288.1045 and 288.106 shall be paid in the
406	order the claims are approved by the Office of Tourism, Trade,
407	and Economic Development. In the event the Legislature does not
408	appropriate an amount sufficient to satisfy the tax refunds
409	under ss. 288.1045 and 288.106 in a fiscal year, the Office of
410	Tourism, Trade, and Economic Development shall pay the tax
411	refunds from the appropriation for the following fiscal year. By
412	March 1 of each year, the Office of Tourism, Trade, and Economic
413	Development shall notify the legislative appropriations
414	committees of the Senate and House of Representatives of any
415	anticipated shortfall in the amount of funds needed to satisfy
416	claims for tax refunds from the appropriation for the current
417	fiscal year.
418	(c)  By December 31 of each year, Enterprise Florida, Inc.,
419	shall submit a complete and detailed report to the Governor, the
420	President of the Senate, the Speaker of the House of
421	Representatives, and the director of the Office of Tourism,
422	Trade, and Economic Development of all applications received,
423	recommendations made to the Office of Tourism, Trade, and
424	Economic Development, final decisions issued, tax refund
425	agreements executed, and tax refunds paid or other payments made
426	under all programs funded out of the Economic Development
427	Incentives Account, including analyses of benefits and costs,
428	types of projects supported, and employment and investment
429	created. Enterprise Florida, Inc., shall also include a separate
430	analysis of the impact of such tax refunds on state enterprise
431	zones designated pursuant to s. 290.0065, rural communities,
432	brownfield areas, and distressed urban communities. The report
433	must also discuss the efforts made by the Office of Tourism,
434	Trade, and Economic Development to amend tax refund agreements
435	to require tax refund claims to be submitted by January 31 for
436	the net new full-time equivalent jobs in this state as of
437	December 31 of the preceding calendar year. The report must also
438	list the name and tax refund amount for each business that has
439	received a tax refund under s. 288.1045 or s. 288.106 during the
440	preceding fiscal year. The Office of Tourism, Trade, and
441	Economic Development shall assist Enterprise Florida, Inc., in
442	the collection of data related to business performance and
443	incentive payments.
444	(d)  Moneys in the Economic Development Incentives Account
445	may be used only to pay tax refunds and other payments
446	authorized under s. 288.1045, s. 288.106, or s. 288.107.
447	(e)  The Office of Tourism, Trade, and Economic Development
448	may adopt rules necessary to carry out the provisions of this
449	subsection, including rules providing for the use of moneys in
450	the Economic Development Incentives Account and for the
451	administration of the Economic Development Incentives Account.
452	Section 6.  Subsection (3) of section 288.120, Florida
453	Statutes, as created by HB 7205, 2011 Regular Session, is
454	renumbered as subsection (5), and new subsections (3) and (4)
455	are added to that section, to read:
456	288.120  State Economic Enhancement and Development Trust
457	Fund.-
458	(3)  There is created, within the State Economic
459	Enhancement and Development Trust Fund, the Economic Development
460	Incentives Account. The Economic Development Incentives Account
461	consists of moneys appropriated to the account for purposes of
462	the tax incentives programs authorized under ss. 288.1045 and
463	288.106, and local financial support provided under ss. 288.1045
464	and 288.106. Moneys in the Economic Development Incentives
465	Account shall be subject to the provisions of s. 216.301(1)(a).
466	(4)(a)  The Office of Tourism, Trade, and Economic
467	Development may approve applications for certification pursuant
468	to ss. 288.1045(3) and 288.106. The total state share of tax
469	refund payments scheduled in all active certifications for each
470	fiscal year may not exceed $35 million.
471	(b)  The total amount of tax refund claims approved for
472	payment by the Office of Tourism, Trade, and Economic
473	Development based on actual project performance may not exceed
474	the amount appropriated to the Economic Development Incentives
475	Account for such purposes for the fiscal year. Claims for tax
476	refunds under ss. 288.1045 and 288.106 shall be paid in the
477	order the claims are approved by the Office of Tourism, Trade,
478	and Economic Development. In the event the Legislature does not
479	appropriate an amount sufficient to satisfy the tax refunds
480	under ss. 288.1045 and 288.106 in a fiscal year, the Office of
481	Tourism, Trade, and Economic Development shall pay the tax
482	refunds from the appropriation for the following fiscal year. By
483	March 1 of each year, the Office of Tourism, Trade, and Economic
484	Development shall notify the legislative appropriations
485	committees of the Senate and House of Representatives of any
486	anticipated shortfall in the amount of funds needed to satisfy
487	claims for tax refunds from the appropriation for the current
488	fiscal year.
489	(c)  By December 31 of each year, Enterprise Florida, Inc.,
490	shall submit a complete and detailed report to the Governor, the
491	President of the Senate, the Speaker of the House of
492	Representatives, and the director of the Office of Tourism,
493	Trade, and Economic Development of all applications received,
494	recommendations made to the Office of Tourism, Trade, and
495	Economic Development, final decisions issued, tax refund
496	agreements executed, and tax refunds paid or other payments made
497	under all programs funded out of the Economic Development
498	Incentives Account, including analyses of benefits and costs,
499	types of projects supported, and employment and investment
500	created. Enterprise Florida, Inc., shall also include a separate
501	analysis of the impact of such tax refunds on state enterprise
502	zones designated pursuant to s. 290.0065, rural communities,
503	brownfield areas, and distressed urban communities. The report
504	must also discuss the efforts made by the Office of Tourism,
505	Trade, and Economic Development to amend tax refund agreements
506	to require tax refund claims to be submitted by January 31 for
507	the net new full-time equivalent jobs in this state as of
508	December 31 of the preceding calendar year. The report must also
509	list the name and tax refund amount for each business that has
510	received a tax refund under s. 288.1045 or s. 288.106 during the
511	preceding fiscal year. The Office of Tourism, Trade, and
512	Economic Development shall assist Enterprise Florida, Inc., in
513	the collection of data related to business performance and
514	incentive payments.
515	(d)  Moneys in the Economic Development Incentives Account
516	may be used only to pay tax refunds and other payments
517	authorized under s. 288.1045, s. 288.106, or s. 288.107.
518	(e)  The Office of Tourism, Trade, and Economic Development
519	may adopt rules necessary to carry out the provisions of this
520	subsection.
521	Section 7.  Paragraph (k) of subsection (1), paragraphs
522	(a), (d), (f), and (g) of subsection (2), paragraph (a) of
523	subsection (4), and paragraph (c) of subsection (5) of section
524	288.1045, Florida Statutes, are amended to read:
525	288.1045  Qualified defense contractor and space flight
526	business tax refund program.-
527	(1)  DEFINITIONS.-As used in this section:
528	(k)  "Local financial support" means funding from local
529	sources, public or private, which is paid to the State Economic
530	Enhancement and Development Economic Development Trust Fund and
531	which is equal to 20 percent of the annual tax refund for a
532	qualified applicant. Local financial support may include excess
533	payments made to a utility company under a designated program to
534	allow decreases in service by the utility company under
535	conditions, regardless of when application is made. A qualified
536	applicant may not provide, directly or indirectly, more than 5
537	percent of such funding in any fiscal year. The sources of such
538	funding may not include, directly or indirectly, state funds
539	appropriated from the General Revenue Fund or any state trust
540	fund, excluding tax revenues shared with local governments
541	pursuant to law.
542	(2)  GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.-
543	(a)  There shall be allowed, from the State Economic
544	Enhancement and Development Economic Development Trust Fund, a
545	refund to a qualified applicant for the amount of eligible taxes
546	certified by the director which were paid by such qualified
547	applicant. The total amount of refunds for all fiscal years for
548	each qualified applicant shall be determined pursuant to
549	subsection (3). The annual amount of a refund to a qualified
550	applicant shall be determined pursuant to subsection (5).
551	(d)  Contingent upon an annual appropriation by the
552	Legislature, the director may approve not more in tax refunds
553	than the amount appropriated to the State Economic Enhancement
554	and Development Economic Development Trust Fund for tax refunds,
555	for a fiscal year pursuant to subsection (5) and s. 288.120
556	288.095.
557	(f)  After entering into a tax refund agreement pursuant to
558	subsection (4), a qualified applicant may:
559	1.  Receive refunds from the account for corporate income
560	taxes due and paid pursuant to chapter 220 by that business
561	beginning with the first taxable year of the business which
562	begins after entering into the agreement.
563	2.  Receive refunds from the account for the following
564	taxes due and paid by that business after entering into the
565	agreement:
566	a.  Taxes on sales, use, and other transactions paid
567	pursuant to chapter 212.
568	b.  Intangible personal property taxes paid pursuant to
569	chapter 199.
570	c.  Emergency excise taxes paid pursuant to chapter 221.
571	d.  Excise taxes paid on documents pursuant to chapter 201.
572	e.  Ad valorem taxes paid, as defined in s. 220.03(1)(a) on
573	June 1, 1996.
574	f.  State communications services taxes administered under
575	chapter 202. This provision does not apply to the gross receipts
576	tax imposed under chapter 203 and administered under chapter 202
577	or the local communications services tax authorized under s.
578	202.19.
579
580	However, a qualified applicant may not receive a tax refund
581	pursuant to this section for any amount of credit, refund, or
582	exemption granted such contractor for any of such taxes. If a
583	refund for such taxes is provided by the office, which taxes are
584	subsequently adjusted by the application of any credit, refund,
585	or exemption granted to the qualified applicant other than that
586	provided in this section, the qualified applicant shall
587	reimburse the State Economic Enhancement and Development
588	Economic Development Trust Fund for the amount of such credit,
589	refund, or exemption. A qualified applicant must notify and
590	tender payment to the office within 20 days after receiving a
591	credit, refund, or exemption, other than that provided in this
592	section. The addition of communications services taxes
593	administered under chapter 202 is remedial in nature and
594	retroactive to October 1, 2001. The office may make supplemental
595	tax refund payments to allow for tax refunds for communications
596	services taxes paid by an eligible qualified defense contractor
597	after October 1, 2001.
598	(g)  Any qualified applicant who fraudulently claims this
599	refund is liable for repayment of the refund to the State
600	Economic Enhancement and Development Economic Development Trust
601	Fund plus a mandatory penalty of 200 percent of the tax refund
602	which shall be deposited into the General Revenue Fund. Any
603	qualified applicant who fraudulently claims this refund commits
604	a felony of the third degree, punishable as provided in s.
605	775.082, s. 775.083, or s. 775.084.
606	(4)  QUALIFIED APPLICANT TAX REFUND AGREEMENT.-
607	(a)  A qualified applicant shall enter into a written
608	agreement with the office containing, but not limited to, the
609	following:
610	1.  The total number of full-time equivalent jobs in this
611	state that are or will be dedicated to the qualified applicant's
612	project, the average wage of such jobs, the definitions that
613	will apply for measuring the achievement of these terms during
614	the pendency of the agreement, and a time schedule or plan for
615	when such jobs will be in place and active in this state.
616	2.  The maximum amount of a refund that the qualified
617	applicant is eligible to receive for each fiscal year, based on
618	the job creation or retention and maintenance schedule specified
619	in subparagraph 1.
620	3.  An agreement with the office allowing the office to
621	review and verify the financial and personnel records of the
622	qualified applicant to ascertain whether the qualified applicant
623	is complying with the requirements of this section.
624	4.  The date by which, in each fiscal year, the qualified
625	applicant may file a claim pursuant to subsection (5) to be
626	considered to receive a tax refund in the following fiscal year.
627	5.  That local financial support shall be annually
628	available and will be paid to the State Economic Enhancement and
629	Development Economic Development Trust Fund.
630	(5)  ANNUAL CLAIM FOR REFUND.-
631	(c)  A tax refund may not be approved for any qualified
632	applicant unless local financial support has been paid to the
633	State Economic Enhancement and Development Economic Development
634	Trust Fund for that refund. If the local financial support is
635	less than 20 percent of the approved tax refund, the tax refund
636	shall be reduced. The tax refund paid may not exceed 5 times the
637	local financial support received. Funding from local sources
638	includes tax abatement under s. 196.1995 or the appraised market
639	value of municipal or county land, including any improvements or
640	structures, conveyed or provided at a discount through a sale or
641	lease to that applicant. The amount of any tax refund for an
642	applicant approved under this section shall be reduced by the
643	amount of any such tax abatement granted or the value of the
644	land granted, including the value of any improvements or
645	structures; and the limitations in subsection (2) shall be
646	reduced by the amount of any such tax abatement or the value of
647	the land granted, including any improvements or structures. A
648	report listing all sources of the local financial support shall
649	be provided to the office when such support is paid to the State
650	Economic Enhancement and Development Economic Development Trust
651	Fund.
652	Section 8.  Subparagraphs (a) and (k) of subsection (2) of
653	section 288.106, Florida Statutes, are amended to read:
654	288.106  Tax refund program for qualified target industry
655	businesses.-
656	(2)  DEFINITIONS.-As used in this section:
657	(a)  "Account" means the Economic Development Incentives
658	Account within the State Economic Enhancement and Development
659	Economic Development Trust Fund established under s. 288.120
660	288.095.
661	(k)  "Local financial support" means funding from local
662	sources, public or private, that is paid to the State Economic
663	Enhancement and Development Economic Development Trust Fund and
664	that is equal to 20 percent of the annual tax refund for a
665	qualified target industry business. A qualified target industry
666	business may not provide, directly or indirectly, more than 5
667	percent of such funding in any fiscal year. The sources of such
668	funding may not include, directly or indirectly, state funds
669	appropriated from the General Revenue Fund or any state trust
670	fund, excluding tax revenues shared with local governments
671	pursuant to law.
672	Section 9.  Paragraph (a) of subsection (1) of section
673	288.107, Florida Statutes, is amended to read:
674	288.107  Brownfield redevelopment bonus refunds.-
675	(1)  DEFINITIONS.-As used in this section:
676	(a)  "Account" means the Economic Development Incentives
677	Account as authorized in s. 288.120 288.095.
678	Section 10.  Paragraph (b) of subsection (8) of section
679	288.1089, Florida Statutes, is amended to read:
680	288.1089  Innovation Incentive Program.-
681	(8)
682	(b)  Additionally, agreements signed on or after July 1,
683	2009, must include the following provisions:
684	1.  Notwithstanding subsection (4), a requirement that the
685	jobs created by the recipient of the incentive funds pay an
686	annual average wage at least equal to the relevant industry's
687	annual average wage or at least 130 percent of the average
688	private sector wage, whichever is greater.
689	2.  A reinvestment requirement. Each recipient of an award
690	shall reinvest up to 15 percent of net royalty revenues,
691	including revenues from spin-off companies and the revenues from
692	the sale of stock it receives from the licensing or transfer of
693	inventions, methods, processes, and other patentable discoveries
694	conceived or reduced to practice using its facilities in Florida
695	or its Florida-based employees, in whole or in part, and to
696	which the recipient of the grant becomes entitled during the 20
697	years following the effective date of its agreement with the
698	office. Each recipient of an award also shall reinvest up to 15
699	percent of the gross revenues it receives from naming
700	opportunities associated with any facility it builds in this
701	state. Reinvestment payments shall commence no later than 6
702	months after the recipient of the grant has received the final
703	disbursement under the contract and shall continue until the
704	maximum reinvestment, as specified in the contract, has been
705	paid. Reinvestment payments shall be remitted to the office for
706	deposit in the Biomedical Research Trust Fund for companies
707	specializing in biomedicine or life sciences, or in the State
708	Economic Enhancement and Development Economic Development Trust
709	Fund for companies specializing in fields other than biomedicine
710	or the life sciences. If these trust funds no longer exist at
711	the time of the reinvestment, the state's share of reinvestment
712	shall be deposited in their successor trust funds as determined
713	by law. Each recipient of an award shall annually submit a
714	schedule of the shares of stock held by it as payment of the
715	royalty required by this paragraph and report on any trades or
716	activity concerning such stock. Each recipient's reinvestment
717	obligations survive the expiration or termination of its
718	agreement with the state.
719	3.  Requirements for the establishment of internship
720	programs or other learning opportunities for educators and
721	secondary, postsecondary, graduate, and doctoral students.
722	4.  A requirement that the recipient submit quarterly
723	reports and annual reports related to activities and performance
724	to the office, according to standardized reporting periods.
725	5.  A requirement for an annual accounting to the office of
726	the expenditure of funds disbursed under this section.
727	6.  A process for amending the agreement.
728	Section 11.  Section 288.7771, Florida Statutes, is amended
729	to read:
730	288.7771  Annual report of Florida Export Finance
731	Corporation.- The corporation shall annually prepare and submit
732	to Enterprise Florida, Inc., for inclusion in its annual report
733	required by s. 288.120 288.095 a complete and detailed report
734	setting forth:
735	(1)  The report required in s. 288.776(3).
736	(2)  Its assets and liabilities at the end of its most
737	recent fiscal year.
738	Section 12.  Subsection (5) of section 288.95155, Florida
739	Statutes, is amended to read:
740	288.95155  Florida Small Business Technology Growth
741	Program.-
742	(5)  Enterprise Florida, Inc., shall prepare and include in
743	its annual report required by s. 288.120 288.095 a report on the
744	financial status of the program. The report must specify the
745	assets and liabilities of the program within the current fiscal
746	year and must include a portfolio update that lists all of the
747	businesses assisted, the private dollars leveraged by each
748	business assisted, and the growth in sales and in employment of
749	each business assisted.
750	Section 13.  Effective October 1, 2011, paragraph (f) of
751	subsection (5) of section 373.461, Florida Statutes, is amended
752	to read:
753	373.461  Lake Apopka improvement and management.-
754	(5)  PURCHASE OF AGRICULTURAL LANDS.-
755	(f)1.  Tangible personal property acquired by the district
756	as part of related facilities pursuant to this section, and
757	classified as surplus by the district, shall be sold by the
758	Department of Management Services. The Department of Management
759	Services shall deposit the proceeds of such sale in the State
760	Economic Enhancement and Development Economic Development Trust
761	Fund in the Executive Office of the Governor. The proceeds shall
762	be used for the purpose of providing economic and infrastructure
763	development in portions of northwestern Orange County and east
764	central Lake County which will be adversely affected
765	economically due to the acquisition of lands pursuant to this
766	subsection.
767	2.  The Office of Tourism, Trade, and Economic Development
768	shall, upon presentation of the appropriate documentation
769	justifying expenditure of the funds deposited pursuant to this
770	paragraph, pay any obligation for which it has sufficient funds
771	from the proceeds of the sale of tangible personal property and
772	which meets the limitations specified in paragraph (g). The
773	authority of the Office of Tourism, Trade, and Economic
774	Development to expend such funds shall expire 5 years from the
775	effective date of this paragraph. Such expenditures may occur
776	without future appropriation from the Legislature.
777	3.  Funds deposited under this paragraph may not be used
778	for any purpose other than those enumerated in paragraph (g).
779	Section 14.  Section 288.1221, Florida Statutes, is
780	repealed:
781	Section 15.  The Legislature recognizes that there is a
782	need to conform the Florida Statutes to the organizational
783	changes in this act and that there may be a need to resolve
784	apparent conflicts with any other legislation that has been or
785	may be enacted during the 2011 Regular Session. Therefore, in
786	the interim between this act becoming a law and the 2011 Regular
787	Session of the Legislature or an earlier special session
788	addressing this issue, the Division of Statutory Revision shall
789	provide the relevant substantive committees of the Senate and
790	the House of Representatives with assistance, upon request, to
791	enable such committees to prepare draft legislation to conform
792	the Florida Statutes and any legislation enacted during 2011 to
793	the provisions of this act.
794	Section 16.  Except as otherwise expressly provided in this
795	act, this act shall take effect October 1, 2011, if HB 7205 or
796	similar legislation takes effect, if such legislation is adopted
797	in the same legislative session or an extension thereof and
798	becomes law.

CODING: Words stricken are deletions; words underlined are additions.