Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 1110
       
       
       
       
       
       
                                Barcode 764884                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Community Affairs (Wise) recommended the
       following:
       
    1         Senate Amendment (with directory and title amendments)
    2  
    3         Between lines 39 and 40
    4  insert:
    5         (4) APPLICATION AND APPROVAL PROCESS.—
    6         (f) Effective July 1, 2011, Notwithstanding paragraph
    7  (2)(j) (2)(k), the department office may reduce the local
    8  financial support requirements of this section by one-half for a
    9  qualified target industry business located in Bay County,
   10  Escambia County, Franklin County, Gadsden County, Gulf County,
   11  Jackson County, Jefferson County, Leon County, Okaloosa County,
   12  Santa Rosa County, Wakulla County, or Walton County, if the
   13  department office determines that such reduction of the local
   14  financial support requirements is in the best interest of the
   15  state and facilitates economic development, growth, or new
   16  employment opportunities in such county. The amount of any
   17  reduction of the local financial support requirements shall be
   18  provided by the department using funds from the account;
   19  however, funds provided from the account may not exceed 90
   20  percent of the annual tax refund for a qualified target industry
   21  business. This paragraph expires June 30, 2014.
   22  
   23  
   24  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   25         And the directory clause is amended as follows:
   26         Delete lines 24 - 25
   27  and insert:
   28         Section 2. Paragraph (c) of subsection (3) and paragraph
   29  (f) of subsection (4) of section 288.106, Florida Statutes, are
   30  amended to read:
   31  
   32  
   33  ================= T I T L E  A M E N D M E N T ================
   34         And the title is amended as follows:
   35         Between lines 9 and 10
   36  insert:
   37         authorizing the reduction of local financial support
   38         requirements for qualified target industry businesses
   39         in a specified county; requiring that any reduction of
   40         local financial support requirements be provided from
   41         funds in the Economic Development Incentives Account
   42         within the Economic Development Trust Fund; limiting
   43         the amount of funds provided from the account for any
   44         annual tax refund for a qualified target industry
   45         business; deleting an obsolete provision; conforming a
   46         cross-reference;