Florida Senate - 2012                          SENATOR AMENDMENT
       Bill No. CS/HB 7099, 2nd Eng.
                                Barcode 443652                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Floor: WD            .                                
             03/09/2012 07:02 PM       .                                

       Senator Margolis moved the following:
    1         Senate Amendment (with title amendment)
    3         Between lines 956 and 957
    4  insert:
    5         Section 14. Paragraph (d) of subsection (6) of section
    6  212.20, Florida Statutes, is amended to read:
    7         212.20 Funds collected, disposition; additional powers of
    8  department; operational expense; refund of taxes adjudicated
    9  unconstitutionally collected.—
   10         (6) Distribution of all proceeds under this chapter and s.
   11  202.18(1)(b) and (2)(b) shall be as follows:
   12         (d) The proceeds of all other taxes and fees imposed
   13  pursuant to this chapter or remitted pursuant to s. 202.18(1)(b)
   14  and (2)(b) shall be distributed as follows:
   15         1. In any fiscal year, the greater of $500 million, minus
   16  an amount equal to 4.6 percent of the proceeds of the taxes
   17  collected pursuant to chapter 201, or 5.2 percent of all other
   18  taxes and fees imposed pursuant to this chapter or remitted
   19  pursuant to s. 202.18(1)(b) and (2)(b) shall be deposited in
   20  monthly installments into the General Revenue Fund.
   21         2. After the distribution under subparagraph 1., 8.814
   22  percent of the amount remitted by a sales tax dealer located
   23  within a participating county pursuant to s. 218.61 shall be
   24  transferred into the Local Government Half-cent Sales Tax
   25  Clearing Trust Fund. Beginning July 1, 2003, the amount to be
   26  transferred shall be reduced by 0.1 percent, and the department
   27  shall distribute this amount to the Public Employees Relations
   28  Commission Trust Fund less $5,000 each month, which shall be
   29  added to the amount calculated in subparagraph 3. and
   30  distributed accordingly.
   31         3. After the distribution under subparagraphs 1. and 2.,
   32  0.095 percent shall be transferred to the Local Government Half
   33  cent Sales Tax Clearing Trust Fund and distributed pursuant to
   34  s. 218.65.
   35         4. After the distributions under subparagraphs 1., 2., and
   36  3., 2.0440 percent of the available proceeds shall be
   37  transferred monthly to the Revenue Sharing Trust Fund for
   38  Counties pursuant to s. 218.215.
   39         5. After the distributions under subparagraphs 1., 2., and
   40  3., 1.3409 percent of the available proceeds, plus the amount
   41  required under s. 290.0138(2), shall be transferred monthly to
   42  the Revenue Sharing Trust Fund for Municipalities pursuant to s.
   43  218.215. If the total revenue to be distributed pursuant to this
   44  subparagraph is at least as great as the amount due from the
   45  Revenue Sharing Trust Fund for Municipalities and the former
   46  Municipal Financial Assistance Trust Fund in state fiscal year
   47  1999-2000, no municipality shall receive less than the amount
   48  due from the Revenue Sharing Trust Fund for Municipalities and
   49  the former Municipal Financial Assistance Trust Fund in state
   50  fiscal year 1999-2000. If the total proceeds to be distributed
   51  are less than the amount received in combination from the
   52  Revenue Sharing Trust Fund for Municipalities and the former
   53  Municipal Financial Assistance Trust Fund in state fiscal year
   54  1999-2000, each municipality shall receive an amount
   55  proportionate to the amount it was due in state fiscal year
   56  1999-2000.
   57         6. Of the remaining proceeds:
   58         a. In each fiscal year, the sum of $29,915,500 shall be
   59  divided into as many equal parts as there are counties in the
   60  state, and one part shall be distributed to each county. The
   61  distribution among the several counties must begin each fiscal
   62  year on or before January 5th and continue monthly for a total
   63  of 4 months. If a local or special law required that any moneys
   64  accruing to a county in fiscal year 1999-2000 under the then
   65  existing provisions of s. 550.135 be paid directly to the
   66  district school board, special district, or a municipal
   67  government, such payment must continue until the local or
   68  special law is amended or repealed. The state covenants with
   69  holders of bonds or other instruments of indebtedness issued by
   70  local governments, special districts, or district school boards
   71  before July 1, 2000, that it is not the intent of this
   72  subparagraph to adversely affect the rights of those holders or
   73  relieve local governments, special districts, or district school
   74  boards of the duty to meet their obligations as a result of
   75  previous pledges or assignments or trusts entered into which
   76  obligated funds received from the distribution to county
   77  governments under then-existing s. 550.135. This distribution
   78  specifically is in lieu of funds distributed under s. 550.135
   79  before July 1, 2000.
   80         b. The department shall distribute $166,667 monthly
   81  pursuant to s. 288.1162 to each applicant certified as a
   82  facility for a new or retained professional sports franchise
   83  pursuant to s. 288.1162. Up to $41,667 shall be distributed
   84  monthly by the department to each certified applicant as defined
   85  in s. 288.11621 for a facility for a spring training franchise.
   86  However, not more than $416,670 may be distributed monthly in
   87  the aggregate to all certified applicants for facilities for
   88  spring training franchises. Distributions begin 60 days after
   89  such certification and continue for not more than 30 years,
   90  except as otherwise provided in s. 288.11621. A certified
   91  applicant identified in this sub-subparagraph may not receive
   92  more in distributions than expended by the applicant for the
   93  public purposes provided for in s. 288.1162(5) or s.
   94  288.11621(3).
   95         c. Beginning 30 days after notice by the Department of
   96  Economic Opportunity to the Department of Revenue that an
   97  applicant has been certified as the professional golf hall of
   98  fame pursuant to s. 288.1168 and is open to the public, $166,667
   99  shall be distributed monthly, for up to 300 months, to the
  100  applicant.
  101         d. Beginning 30 days after notice by the Department of
  102  Economic Opportunity to the Department of Revenue that the
  103  applicant has been certified as the International Game Fish
  104  Association World Center facility pursuant to s. 288.1169, and
  105  the facility is open to the public, $83,333 shall be distributed
  106  monthly, for up to 168 months, to the applicant. This
  107  distribution is subject to reduction pursuant to s. 288.1169. A
  108  lump sum payment of $999,996 shall be made, after certification
  109  and before July 1, 2000.
  110         7. All other proceeds must remain in the General Revenue
  111  Fund.
  112         Section 15. Subsection (3) of section 218.23, Florida
  113  Statutes, is amended to read:
  114         218.23 Revenue sharing with units of local government.—
  115         (3) The distribution to a unit of local government under
  116  this part is determined by the following formula:
  117         (a) First, the entitlement of an eligible unit of local
  118  government shall be computed on the basis of the apportionment
  119  factor provided in s. 218.245, which shall be applied for all
  120  eligible units of local government to all receipts available for
  121  distribution in the respective revenue sharing trust fund.
  122         (b) Second, revenue shared with eligible units of local
  123  government for any fiscal year shall be adjusted so that no
  124  eligible unit of local government receives less funds than its
  125  guaranteed entitlement.
  126         (c) Third, revenues shared with counties for any fiscal
  127  year shall be adjusted so that no county receives less funds
  128  than its guaranteed entitlement plus the second guaranteed
  129  entitlement for counties.
  130         (d) Fourth, revenue shared with units of local government
  131  for any fiscal year shall be adjusted so that no unit of local
  132  government receives less funds than its minimum entitlement.
  133         (e) Fifth, after the adjustments provided in paragraphs
  134  (b), (c), and (d), the funds remaining in the respective trust
  135  fund for municipalities shall be distributed to the appropriate
  136  governing body eligible for a distribution under ss. 290.0137
  137  and 290.0138.
  138         (f)(e)Sixth Fifth, after the adjustments provided in
  139  paragraphs (b), (c), and (d), and (e), and after deducting the
  140  amount committed to all the units of local government, the funds
  141  remaining in the respective trust funds shall be distributed to
  142  those eligible units of local government which qualify to
  143  receive additional moneys beyond the guaranteed entitlement, on
  144  the basis of the additional money of each qualified unit of
  145  local government in proportion to the total additional money of
  146  all qualified units of local government.
  147         Section 16. Section 290.004, Florida Statutes, is amended
  148  to read:
  149         290.004 Definitions relating to Florida Enterprise Zone
  150  Act.—As used in ss. 290.001-290.016, the term:
  151         (1) “Base year” means the amount of sales taxes that would
  152  have been produced by the tax levied upon all eligible sales and
  153  use transactions pursuant to chapter 212 before the construction
  154  of the retail development project.
  155         (2) “Bond” means any bond, note, or other instrument issued
  156  by the governing body and secured by tax increment revenues or
  157  other security authorized in this chapter.
  158         (3)(1) “Community investment corporation” means a black
  159  business investment corporation, a certified development
  160  corporation, a small business investment corporation, or other
  161  similar entity incorporated under Florida law that has limited
  162  its investment policy to making investments solely in minority
  163  business enterprises.
  164         (4) “Compliance period” means the 3-year period after the
  165  establishment of the base year for a sales tax TIF area during
  166  which the minimum job requirement for a retail development
  167  project must be satisfied.
  168         (5)(2) “Department” means the Department of Economic
  169  Opportunity.
  170         (6)(3) “Governing body” means the council or other
  171  legislative body charged with governing the county or
  172  municipality.
  173         (7)(4) “Minority business enterprise” has the same meaning
  174  as provided in s. 288.703.
  175         (8) “Retail development project” means the establishment of
  176  a retail facility, under common ownership or control, consisting
  177  of more than 300,000 square feet of new or rehabilitated retail
  178  space within an enterprise zone engaged in direct onsite retail
  179  sales to consumers. A retail development project shall create at
  180  least 500 jobs within the compliance period and generate more
  181  than $1 million annually in additional taxes and fees collected
  182  for the distribution under s. 212.20(6)(d)5. A retail
  183  development project may include restaurants, grocery and
  184  specialty food stores, art galleries, and businesses engaged in
  185  sales of home furnishings, apparel, and general merchandise
  186  goods serving both local customers and tourists. A retail
  187  development project shall exclude:
  188         (a) Liquor stores;
  189         (b) Adult entertainment nightclubs;
  190         (c) Adult book stores; and
  191         (d) The relocation of a retail business to the retail
  192  development project from another location within the enterprise
  193  zone, unless the relocation involves a significant expansion of
  194  the size of the business or results in a total increase in
  195  taxable sales of not less than 50 percent within the county in
  196  which the business relocates.
  197         (9) “Retail development project developer” means any person
  198  or entity sponsoring a retail development project within an
  199  enterprise zone.
  200         (10)(5) “Rural enterprise zone” means an enterprise zone
  201  that is nominated by a county having a population of 75,000 or
  202  fewer, or a county having a population of 100,000 or fewer which
  203  is contiguous to a county having a population of 75,000 or
  204  fewer, or by a municipality in such a county, or by such a
  205  county and one or more municipalities. An enterprise zone
  206  designated in accordance with s. 290.0065(5)(b) is considered to
  207  be a rural enterprise zone.
  208         (11) “Sales tax TIF area” means a geographic area within an
  209  enterprise zone that includes a retail development project,
  210  designated by a governing body to receive tax increment revenues
  211  or bond proceeds to underwrite improvements authorized under s.
  212  290.0056.
  213         (12)(6) “Small business” has the same meaning as provided
  214  in s. 288.703.
  215         (13) “Tax increment revenues” means the portion of
  216  available sales tax revenue calculated pursuant to s.
  217  290.0138(1).
  218         (14) “TIF” means tax increment financing.
  219         Section 17. Paragraph (a) of subsection (9) of section
  220  290.0056, Florida Statutes, is amended, subsections (11) and
  221  (12) are renumbered as subsections (12) and (13), respectively,
  222  and a new subsection (11) is added to that section, to read:
  223         290.0056 Enterprise zone development agency.—
  224         (9) The following powers and responsibilities shall be
  225  performed by the governing body creating the enterprise zone
  226  development agency acting as the managing agent of the
  227  enterprise zone development agency, or, contingent upon approval
  228  by such governing body, such powers and responsibilities shall
  229  be performed by the enterprise zone development agency:
  230         (a) To review, process, and certify applications for state
  231  enterprise zone tax incentives pursuant to ss. 212.08(5)(g),
  232  (h), and (15); 212.096; 220.181; and 220.182; and 290.0137.
  233         (11) Contingent upon the governing body’s designation of a
  234  sales tax TIF area, the governing body or the enterprise zone
  235  development agency may exercise the following additional powers
  236  for the purpose of financing public improvements that will
  237  foster job growth and enhance the base of retailers within an
  238  enterprise zone, unless otherwise prohibited by ordinance:
  239         (a) Enter into cooperative contracts and agreements with a
  240  county, municipality, or governmental agency for services and
  241  assistance within the sales tax TIF area;
  242         (b) Expend tax increment revenues to acquire, own, convey,
  243  construct, maintain, improve, and manage property and facilities
  244  and grant and acquire licenses, easements, and options with
  245  respect to such property and facilities within the sales tax TIF
  246  area;
  247         (c) Expend tax increment revenues to complete public
  248  improvements within the sales tax TIF area, including, but not
  249  limited to:
  250         1. Construction of streetscape improvements;
  251         2. Installation of landscaping enhancements within the
  252  public right-of-way;
  253         3. Construction of street lighting systems;
  254         4. Installation of water and sewer service mains; and
  255         5. Construction of on-street and off-street public parking
  256  facilities.
  257         (d) Enter into a retail development agreement with a retail
  258  project developer to underwrite public improvements or services
  259  identified in paragraphs (a)-(c).
  260         Section 18. Subsection (9) is added to section 290.007,
  261  Florida Statutes, to read:
  262         290.007 State incentives available in enterprise zones.—The
  263  following incentives are provided by the state to encourage the
  264  revitalization of enterprise zones:
  265         (9) The designation of a sales tax TIF area provided in s.
  266  290.0137.
  267         Section 19. Section 290.01351, Florida Statutes, is created
  268  to read:
  269         290.01351 Municipal Revitalization Act.—Sections 290.0136
  270  290.01391 may be cited as the “Municipal Revitalization Act.”
  271         Section 20. Section 290.0136, Florida Statutes, is created
  272  to read:
  273         290.0136 Sales tax TIF area; intent and purpose.—
  274         (1) The Legislature intends to foster the revitalization of
  275  counties and municipalities and support job-creating retail
  276  development projects within enterprise zones by authorizing the
  277  governing bodies of counties and municipalities to designate
  278  sales tax TIF areas within enterprise zones, subject to the
  279  review and approval by the department.
  280         (2) The Legislature finds that by authorizing local
  281  government governing bodies to designate a sales tax TIF area,
  282  the counties or municipalities may receive from the state a
  283  portion of an annual increase in sales tax collections generated
  284  by the development of a retail development project and will
  285  further the revitalization of such counties and municipalities.
  286  By authorizing the receipt of an annual increase in sales tax
  287  collections within a sales tax TIF area resulting from the
  288  retail development project, the Legislature intends to provide
  289  financing for public improvements that will foster job growth
  290  for the residents of economically distressed areas and enhance
  291  the base of retailers operating within the enterprise zone and
  292  serving local residents and international visitors.
  293         Section 21. Section 290.0137, Florida Statutes, is created
  294  to read:
  295         290.0137 Designation of sales tax TIF area; review and
  296  approval by the department.—
  297         (1) Any municipality having a population of at least
  298  300,000 which has designated an enterprise zone, or all of the
  299  governing bodies in the case of a county and one or more
  300  municipalities having designated an enterprise zone if the
  301  county has a population of at least 1,200,000, may adopt a
  302  resolution after a public hearing designating a sales tax TIF
  303  area.
  304         (2) The resolution creating a sales tax TIF area, at a
  305  minimum, must:
  306         (a) Include findings that the designation of the sales tax
  307  TIF area:
  308         1. Is essential to furthering a retail development project;
  309         2. Will provide needed retail amenities within the
  310  enterprise zone;
  311         3. Will result in the development of a retail development
  312  project that will create no fewer than 500 new jobs within the
  313  compliance period and not less than $1 million in sales tax
  314  increment revenue annually; and
  315         4. Will enhance the health and general welfare of the
  316  residents of the enterprise zone within the sponsoring
  317  municipality or county;
  318         (b) Fix the geographic boundaries of the sales tax TIF area
  319  within which the governing body may expend tax increment
  320  revenues;
  321         (c) Establish the term of the life of the sales tax TIF
  322  area, which term may not extend more than 40 years after the
  323  date the sales tax TIF area is approved by the department; and
  324         (d) Establish the base year for determination of sales tax
  325  receipts collected for the distribution under s. 212.20(6)(d)5.,
  326  less the amount required under s. 290.0138(1).
  327         (3) No more than two sales tax TIF areas may be designated
  328  in any one eligible municipality. No more than four sales tax
  329  TIF areas may be designated in any eligible county. If an
  330  eligible municipality is located in an eligible county, any
  331  sales tax TIF area designated by a municipality shall count
  332  against the maximum number of sales tax TIF areas permitted
  333  within an eligible county. A sales tax TIF area may not be
  334  located within a one-quarter mile of any other designated sales
  335  tax TIF area and may not exceed 5 square miles in total land
  336  mass.
  337         (4) A designated sales tax TIF area may not include:
  338         (a) Areas designated or to be designated as an “urban
  339  infill and redevelopment area” pursuant to part II of chapter
  340  163;
  341         (b) Areas designated or to be designated as a “community
  342  redevelopment area” pursuant to part III of chapter 163;
  343         (c) Any facility financed or partially financed with bonds
  344  whose debt is serviced with proceeds collected under the
  345  authority provided under s. 125.0104; or
  346         (d) Any facility conducting gaming activities authorized
  347  pursuant to part II of chapter 285, chapter 550, chapter 551, or
  348  chapter 849. This prohibition extends to any facilities
  349  authorized to conduct gaming activities after the effective date
  350  of this act.
  351         (5) The powers conferred by ss. 290.0136-290.01391 upon
  352  counties not having adopted a home rule charter may not be
  353  exercised within the boundaries of a municipality within such
  354  county unless the governing body of the municipality expresses
  355  its consent by resolution. A resolution consenting to the
  356  exercise of the powers conferred upon counties by ss. 290.0136
  357  290.01391 must specifically enumerate the powers to be exercised
  358  by the county within the boundaries of the municipality. Any
  359  power not specifically enumerated in the resolution of consent
  360  shall be exercised exclusively by the municipality within its
  361  boundaries.
  362         (6) In any county that has adopted a home rule charter, the
  363  powers conferred by ss. 290.0136-290.01391 shall be exercised
  364  exclusively by the governing body of the county. However, the
  365  governing body of such county may by resolution delegate the
  366  exercise of the powers conferred upon the county by ss.
  367  290.0136-290.01391 within the boundaries of a municipality to
  368  the governing body of the municipality. Such delegation to a
  369  municipality confers upon a municipality only the powers that
  370  are specifically enumerated in the delegating resolution. Any
  371  power not specifically delegated is reserved exclusively to the
  372  governing body of the county.
  373         (7) Before the governing body adopts any resolution
  374  designating a sales tax TIF area pursuant to the requirements of
  375  this section or authorizes the issuance of redevelopment revenue
  376  bonds under s. 290.01391, the governing body must provide public
  377  notice of such proposed action pursuant to s. 125.66(2) or s.
  378  166.041(3)(a).
  379         (8) A copy of the resolution adopted by the governing body
  380  designating the sales tax TIF area must be transmitted to the
  381  department for review. The department shall determine whether
  382  the designation of the sales tax TIF area complies with the
  383  requirements of this chapter. When determining whether the
  384  designation complies with the requirements of this chapter, the
  385  department must consider whether the designation:
  386         (a) Captures taxable spending, in whole or in significant
  387  part, which would not otherwise occur in the community rather
  388  than redistributing current spending;
  389         (b) Supports and enhances the tourism industry; and
  390         (c) Supports a retail development project that will meet
  391  the jobs and taxes and fees required to be generated, as
  392  described in s. 290.004(8).
  393         (9) If the department determines that the designation by
  394  the governing body complies with the requirements of this
  395  chapter, the department must provide written notification to the
  396  local governing body of such determination. Upon receipt of the
  397  notification, the local governing body must remit a copy of the
  398  resolution establishing the sales tax TIF area, along with the
  399  department’s notice of determination, to the Department of
  400  Revenue.
  401         Section 22. Section 290.0138, Florida Statutes, is created
  402  to read:
  403         290.0138 Calculation of tax increment revenue contribution
  404  to governing body.—
  405         (1) The governing body of a designated sales tax TIF area
  406  is eligible for a percentage distribution from the Revenue
  407  Sharing Trust Fund for Municipalities of the increased
  408  collections of the state tax on sales, use, and other
  409  transactions realized during any month by the municipality over
  410  the same monthly period of the base year, as follows:
  411         (a) Eighty-five percent of the increased monthly
  412  collections of $85,000 or less.
  413         (b) Seventy-five percent of the increased monthly
  414  collections greater than $85,000 but $425,000 or less.
  415         (c) Fifty percent of the increased monthly collections
  416  greater than $425,000 but $675,000 or less.
  417         (d) Twenty-five percent of the increased monthly
  418  collections greater than $675,000 but $1 million or less.
  419         (e) Zero percent of the increased monthly collections of
  420  more than $1 million.
  421         (2) The specific amount payable to each eligible governing
  422  body must be determined monthly by the Department of Revenue for
  423  distribution to the appropriate eligible governing body in
  424  accordance with subsection (1). The Department of Revenue must
  425  determine monthly the aggregate amount of sales tax revenue that
  426  is required for distribution to each eligible governing body
  427  under this section and transfer that amount from the General
  428  Revenue Fund to the Revenue Sharing Trust Fund for
  429  Municipalities in accordance with s. 212.20(6)(d)5. All amounts
  430  transferred to the Revenue Sharing Trust Fund for Municipalities
  431  must be distributed as provided in s. 218.23(3)(e). The total
  432  distribution provided to the eligible governing body may not
  433  exceed the total tax increment revenue contribution set forth in
  434  the retail project development agreement required pursuant to s.
  435  290.0139.
  436         (3) Percentage distributions to each governing body under
  437  subsection (1) are contingent upon the following:
  438         (a) A contribution by the local governing body equal to not
  439  less than 30 percent of the percent of the distributions of
  440  sales tax revenues provided to the governing body under
  441  subsection (1). Such matching contribution may be provided in
  442  one of the following forms:
  443         1. A cash deposit by the governing body to the revenue
  444  account established pursuant to subsection (4);
  445         2. A commitment within the governing body’s capital plan to
  446  underwrite any project within the sales tax TIF area; or
  447         3. Approval of an economic development ad valorem tax
  448  exemption by the governing body authorized under ss. 196.1995
  449  and 196.1996;
  450         (b) Total private investment in a retail development
  451  project equal to an amount not less than three times the state
  452  contribution; and
  453         (c) Annual transmittal of an employment certificate by the
  454  retail development project developer to the department and the
  455  Department of Revenue attesting to the total number of full-time
  456  and part-time jobs created by the retail development project.
  457         1. The retail development project developer must continue
  458  to provide such employment certificate until the end of the
  459  compliance period or transmittal of an employment certificate
  460  indicating that the retail development project has created the
  461  required minimum number of jobs, whichever occurs first. For
  462  purposes of determining whether the job requirement has been
  463  satisfied, two part-time jobs shall be counted as the equivalent
  464  of one full-time job.
  465         2. If the retail development project fails to create the
  466  required minimum number of jobs by the end of the compliance
  467  period, future percentage distributions to the governing body
  468  under subsection (1) must be reduced by the number of actual
  469  jobs created as a percentage of the minimum required jobs.
  470         (4) Each governing body receiving a percentage distribution
  471  under subsection (1) must establish a separate redevelopment
  472  trust fund for each designated sales tax TIF area. Funds
  473  allocated to and deposited in this fund may be used only to
  474  underwrite any eligible public improvements approved by the
  475  enterprise zone governing body pursuant to the authority
  476  provided in s. 290.0056 and ss. 290.0136-290.01391.
  477         Section 23. Section 290.0139, Florida Statutes, is created
  478  to read:
  479         290.0139 Retail development project agreement.—
  480         (1) A retail development project developer proposing to use
  481  tax increment revenues to expend sales tax increment revenues
  482  for purposes authorized under s. 290.0056 on behalf of the
  483  governing body or enterprise zone development agency may enter
  484  into a retail development project agreement with the governing
  485  body designating a sales tax TIF area. The agreement must set
  486  forth:
  487         (a) The goals and objectives of the retail development
  488  project;
  489         (b) Requirements for leasing retail space within the retail
  490  development project which will advance the governing body’s or
  491  enterprise zone development agency’s goals and objectives;
  492         (c) The terms and conditions pursuant to which tax
  493  increment revenue or bond proceeds will be advanced to pay for
  494  costs incurred in the sales tax TIF area;
  495         (d) Goals for the hiring of enterprise zone residents for
  496  the new jobs created by the retail development project;
  497         (e) Such matters as may be required in connection with the
  498  issuance of bonds to support the retail development project; and
  499         (f) Such other matters as the governing body designating
  500  the sales tax TIF area may determine to be necessary and
  501  appropriate.
  502         (2) A retail project development agreement must be approved
  503  by resolution of the governing body following a public hearing
  504  advertised in a newspaper of general circulation not less than
  505  10 days before the date of the required public hearing.
  506         (3) A retail development agreement must be transmitted to
  507  the department for review and determination that the agreement
  508  complies with the requirements of this chapter.
  509         Section 24. Section 290.01391, Florida Statutes, is created
  510  to read:
  511         290.01391 Issuance of sales tax increment revenue bonds;
  512  use of bond proceeds; funding agreement.—
  513         (1) If authorized or approved by resolution of the
  514  governing body that designated the sales tax TIF area, after a
  515  public hearing, tax increment revenues may be used to support
  516  the issuance of sales tax increment revenue bonds to finance the
  517  authorized public improvements, including, but not limited to,
  518  the payment of principal and interest upon any advances for
  519  surveys and plans or preliminary loans and to issue refunding
  520  bonds for the payment or retirement of bonds or other
  521  obligations previously issued. Sales tax increment revenue bonds
  522  may not be committed for any projects identified following the
  523  10th year after the base year established under s. 290.004. Any
  524  sales tax increment revenue bonds or other obligations issued to
  525  finance the undertaking of any eligible activity under ss.
  526  290.0136-290.01391 must mature by the end of the 40th fiscal
  527  year after the fiscal year in which sales tax increment revenues
  528  are first deposited into the sales tax TIF area trust fund or at
  529  the expiration of any agreement between the governing body and
  530  the retail project developer for which bonds are issued to
  531  underwrite eligible public improvements, whichever is later.
  532  However, any refunding bonds issued pursuant to this subsection
  533  may not mature later than the final maturity date of any bonds
  534  or other obligations issued pursuant to this subsection being
  535  paid or retired with the proceeds of such refunding bonds.
  536         (2) Sales tax increment revenue bonds issued under ss.
  537  290.0136-290.01391 may not be deemed to constitute a debt,
  538  liability, or obligation of the public body or the state or any
  539  political subdivision thereof, or a pledge of the faith and
  540  credit of the public body or the state or any political
  541  subdivision thereof, but shall be payable solely from the
  542  revenues provided therefor. All such sales tax increment revenue
  543  bonds must contain on the face thereof a statement to the effect
  544  that the agency may not be obligated to pay the same or the
  545  interest thereon except from the revenues of the sales tax TIF
  546  area held for that purpose and that neither the faith and credit
  547  nor the taxing power of the governing body or of the state or of
  548  any political subdivision thereof is pledged to the payment of
  549  the principal of, or the interest on, such bonds.
  550         (3) Bonds issued under this section must be authorized by
  551  resolution of the governing body and may be issued in one or
  552  more series and may bear such date or dates, be payable upon
  553  demand or mature at such time or times, bear interest at such
  554  rate or rates, be in such denomination or denominations, be in
  555  such form with or without coupon or registered, carry such
  556  conversion or registration privileges, have such rank or
  557  priority, be executed in such manner, be payable in such medium
  558  of payment at such place or places, be subject to such terms of
  559  redemption with or without a premium, be secured in such manner,
  560  and have such other characteristics as may be provided by the
  561  resolution or ordinance authorizing their issuance. Bonds issued
  562  under this section may be sold in such manner, at public or
  563  private sale, and for such price as the designated governing
  564  body may determine will carry out the purposes of this section.
  565         (4) If the public officials of the county or municipal
  566  governing body whose signatures appear on any bonds or coupons
  567  issued under ss. 290.0136-290.01391 cease to be such officials
  568  before the delivery of such bonds, such signatures are,
  569  nevertheless, valid and sufficient for all purposes, the same as
  570  if such officials had remained in office until such delivery.
  571         (5) Bonds issued under ss. 290.0136-290.01391 are declared
  572  to be issued for an essential public and governmental purpose.
  573  In any suit, action, or proceeding involving the validity or
  574  enforceability of any bond issued under this section, any bond
  575  that recites in substance that it has been issued by the
  576  governing body in connection with the sales tax increment
  577  district for a purpose authorized under this section is
  578  conclusively presumed to have been issued for that purpose, and
  579  any project financed by the bond is conclusively presumed to
  580  have been planned and carried out in accordance with the
  581  intended purposes of this section.
  582         (6)If the enterprise zone program is not extended beyond
  583  the date set forth in s. 290.016 and bonds issued pursuant to
  584  this section remain outstanding, the Department of Revenue must
  585  continue to collect and remit tax increment revenues generated
  586  by the retail development project to service the outstanding
  587  bond obligations.
  589  ================= T I T L E  A M E N D M E N T ================
  590         And the title is amended as follows:
  591         Between lines 58 and 59
  592  insert:
  593         amending s. 212.20, F.S.; providing for the transfer
  594         of certain sales tax revenues from the General Revenue
  595         Fund to the Revenue Sharing Trust Fund for
  596         Municipalities; amending s. 218.23, F.S.; providing
  597         for a distribution from the Revenue Sharing Trust Fund
  598         for Municipalities relating to an increase in sales
  599         tax collections over the preceding year to the
  600         governing body of an area that receives tax increment
  601         revenues pursuant to a designation as a sales tax TIF
  602         area; amending s. 290.004, F.S.; providing
  603         definitions; amending s. 290.0056, F.S.; revising
  604         provisions relating to the enterprise zone development
  605         agency; providing powers of the governing body upon
  606         the designation of a sales tax TIF area; amending s.
  607         290.007, F.S.; providing designation of sales tax TIF
  608         areas as an economic incentive in enterprise zones;
  609         creating ss. 290.01351, 290.0136, 290.0137, 290.0138,
  610         290.0139, and 290.01391, F.S.; creating the “Municipal
  611         Revitalization Act”; providing legislative intent and
  612         purposes; authorizing specified governing bodies to
  613         create sales tax TIF areas within a county or
  614         municipality having a specified population; providing
  615         requirements, processes, and limitations relating to
  616         such sales tax TIF areas; providing that the governing
  617         body for an enterprise zone where a sales tax TIF area
  618         is located is eligible for specified percentage
  619         distributions of increased state sales tax collections
  620         under certain circumstances; requiring the Department
  621         of Revenue to determine the amount of increased sales
  622         tax collections to be distributed to each eligible
  623         designated enterprise zone redevelopment agency and to
  624         transfer the aggregate amount due to all such agencies
  625         to the Revenue Sharing Trust Fund for Municipalities
  626         for distribution; providing requirements and
  627         conditions relating to such distributions of increased
  628         sales tax collections to governing bodies; authorizing
  629         certain retail development project developers to enter
  630         into retail development project agreements with
  631         governing bodies designating sales tax TIF areas;
  632         providing requirements, limitations, and conditions
  633         relating to such retail development project
  634         agreements; granting specified powers to a governing
  635         body for a sales tax TIF area for the purpose of
  636         providing financing and fostering certain
  637         improvements, including issuing sales tax increment
  638         revenue bonds; providing for the issuance of tax
  639         increment revenue bonds and the use of such bonds;