Florida Senate - 2015 COMMITTEE AMENDMENT
Bill No. SB 302
Ì5230580Î523058
LEGISLATIVE ACTION
Senate . House
Comm: RCS .
02/20/2015 .
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Appropriations Subcommittee on Transportation, Tourism, and
Economic Development (Detert) recommended the following:
1 Senate Amendment (with title amendment)
2
3 Delete lines 65 - 349
4 and insert:
5 homeownership housing opportunities for persons with special
6 needs or homeownership opportunities for low-income households
7 or very-low-income households as those terms are defined in s.
8 420.9071 and $3.5 million annually for all other projects. As
9 used in this paragraph, the term “person with special needs” has
10 the same meaning as provided in s. 420.0004 and the terms “low
11 income person,” “low-income household,” “very-low-income
12 person,” and “very-low-income household” have the same meaning
13 provided in s. 420.9071.
14 f. A person who is eligible to receive the credit provided
15 in this paragraph, s. 220.183, or s. 624.5105 may receive the
16 credit only under one section of the person’s choice.
17 2. Eligibility requirements.—
18 a. A community contribution by a person must be in the
19 following form:
20 (I) Cash or other liquid assets;
21 (II) Real property;
22 (III) Goods or inventory; or
23 (IV) Other physical resources identified by the Department
24 of Economic Opportunity.
25 b. All community contributions must be reserved exclusively
26 for use in a project. As used in this sub-subparagraph, the term
27 “project” means activity undertaken by an eligible sponsor which
28 is designed to construct, improve, or substantially rehabilitate
29 housing that is affordable to low-income households or very-low
30 income households as those terms are defined in s. 420.9071;
31 designed to provide housing opportunities for persons with
32 special needs; designed to provide commercial, industrial, or
33 public resources and facilities; or designed to improve
34 entrepreneurial and job-development opportunities for low-income
35 persons. A project may be the investment necessary to increase
36 access to high-speed broadband capability in rural communities
37 with enterprise zones, including projects that result in
38 improvements to communications assets that are owned by a
39 business. A project may include the provision of museum
40 educational programs and materials that are directly related to
41 a project approved between January 1, 1996, and December 31,
42 1999, and located in an enterprise zone designated pursuant to
43 s. 290.0065. This paragraph does not preclude projects that
44 propose to construct or rehabilitate housing for low-income
45 households, or very-low-income households on scattered sites; or
46 housing opportunities for persons with special needs. With
47 respect to housing, contributions may be used to pay the
48 following eligible special needs, low-income, and very-low
49 income housing-related activities:
50 (I) Project development impact and management fees for
51 special needs, low-income, or very-low-income housing projects;
52 (II) Down payment and closing costs for persons with
53 special needs, low-income persons, and very-low-income persons,
54 as those terms are defined in s. 420.9071;
55 (III) Administrative costs, including housing counseling
56 and marketing fees, not to exceed 10 percent of the community
57 contribution, directly related to special needs, low-income, or
58 very-low-income projects; and
59 (IV) Removal of liens recorded against residential property
60 by municipal, county, or special district local governments if
61 satisfaction of the lien is a necessary precedent to the
62 transfer of the property to a low-income person, or very-low
63 income person, as those terms are defined in s. 420.9071, for
64 the purpose of promoting home ownership. Contributions for lien
65 removal must be received from a nonrelated third party.
66 c. The project must be undertaken by an “eligible sponsor,”
67 which includes:
68 (I) A community action program;
69 (II) A nonprofit community-based development organization
70 whose mission is the provision of housing for persons with
71 specials needs, low-income households, or very-low-income
72 households or increasing entrepreneurial and job-development
73 opportunities for low-income persons;
74 (III) A neighborhood housing services corporation;
75 (IV) A local housing authority created under chapter 421;
76 (V) A community redevelopment agency created under s.
77 163.356;
78 (VI) A historic preservation district agency or
79 organization;
80 (VII) A regional workforce board;
81 (VIII) A direct-support organization as provided in s.
82 1009.983;
83 (IX) An enterprise zone development agency created under s.
84 290.0056;
85 (X) A community-based organization incorporated under
86 chapter 617 which is recognized as educational, charitable, or
87 scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
88 and whose bylaws and articles of incorporation include
89 affordable housing, economic development, or community
90 development as the primary mission of the corporation;
91 (XI) Units of local government;
92 (XII) Units of state government; or
93 (XIII) Any other agency that the Department of Economic
94 Opportunity designates by rule.
95
96 A contributing person may not have a financial interest in the
97 eligible sponsor.
98 d. The project must be located in an area designated an
99 enterprise zone or a Front Porch Florida Community, unless the
100 project increases access to high-speed broadband capability for
101 rural communities that have enterprise zones but is physically
102 located outside the designated rural zone boundaries. Any
103 project designed to construct or rehabilitate housing for low
104 income households, or very-low-income households or housing
105 opportunities for persons with special needs as those terms are
106 defined in s. 420.9071 is exempt from the area requirement of
107 this sub-subparagraph.
108 e.(I) If, during the first 10 business days of the state
109 fiscal year, eligible tax credit applications for projects that
110 provide housing opportunities for persons with special needs, or
111 homeownership opportunities for low-income households, or very
112 low-income households as those terms are defined in s. 420.9071
113 are received for less than the annual tax credits available for
114 those projects, the Department of Economic Opportunity shall
115 grant tax credits for those applications and grant remaining tax
116 credits on a first-come, first-served basis for subsequent
117 eligible applications received before the end of the state
118 fiscal year. If, during the first 10 business days of the state
119 fiscal year, eligible tax credit applications for projects that
120 provide housing opportunities for persons with special needs, or
121 homeownership opportunities for low-income households, or very
122 low-income households as those terms are defined in s. 420.9071
123 are received for more than the annual tax credits available for
124 those projects, the Department of Economic Opportunity shall
125 grant the tax credits for those applications as follows:
126 (A) If tax credit applications submitted for approved
127 projects of an eligible sponsor do not exceed $200,000 in total,
128 the credits shall be granted in full if the tax credit
129 applications are approved.
130 (B) If tax credit applications submitted for approved
131 projects of an eligible sponsor exceed $200,000 in total, the
132 amount of tax credits granted pursuant to sub-sub-sub
133 subparagraph (A) shall be subtracted from the amount of
134 available tax credits, and the remaining credits shall be
135 granted to each approved tax credit application on a pro rata
136 basis.
137 (II) If, during the first 10 business days of the state
138 fiscal year, eligible tax credit applications for projects other
139 than those that provide housing opportunities for persons with
140 special needs, or homeownership opportunities for low-income
141 households, or very-low-income households as those terms are
142 defined in s. 420.9071 are received for less than the annual tax
143 credits available for those projects, the Department of Economic
144 Opportunity shall grant tax credits for those applications and
145 shall grant remaining tax credits on a first-come, first-served
146 basis for subsequent eligible applications received before the
147 end of the state fiscal year. If, during the first 10 business
148 days of the state fiscal year, eligible tax credit applications
149 for projects other than those that provide housing opportunities
150 for persons with special needs, or homeownership opportunities
151 for low-income households, or very-low-income households as
152 those terms are defined in s. 420.9071 are received for more
153 than the annual tax credits available for those projects, the
154 Department of Economic Opportunity shall grant the tax credits
155 for those applications on a pro rata basis.
156 3. Application requirements.—
157 a. An Any eligible sponsor seeking to participate in this
158 program must submit a proposal to the Department of Economic
159 Opportunity which sets forth the name of the sponsor, a
160 description of the project, and the area in which the project is
161 located, together with such supporting information as is
162 prescribed by rule. The proposal must also contain a resolution
163 from the local governmental unit in which the project is located
164 certifying that the project is consistent with local plans and
165 regulations.
166 b. A Any person seeking to participate in this program must
167 submit an application for tax credit to the Department of
168 Economic Opportunity which sets forth the name of the sponsor, a
169 description of the project, and the type, value, and purpose of
170 the contribution. The sponsor shall verify, in writing, the
171 terms of the application and indicate its receipt of the
172 contribution, and such verification must accompany the
173 application for tax credit. The person must submit a separate
174 tax credit application to the Department of Economic Opportunity
175 for each individual contribution that it makes to each
176 individual project.
177 c. A Any person who has received notification from the
178 Department of Economic Opportunity that a tax credit has been
179 approved must apply to the department to receive the refund.
180 Application must be made on the form prescribed for claiming
181 refunds of sales and use taxes and be accompanied by a copy of
182 the notification. A person may submit only one application for
183 refund to the department within a 12-month period.
184 4. Administration.—
185 a. The Department of Economic Opportunity may adopt rules
186 necessary to administer this paragraph, including rules for the
187 approval or disapproval of proposals by a person.
188 b. The decision of the Department of Economic Opportunity
189 must be in writing, and, if approved, the notification shall
190 state the maximum credit allowable to the person. Upon approval,
191 the Department of Economic Opportunity shall transmit a copy of
192 the decision to the department.
193 c. The Department of Economic Opportunity shall
194 periodically monitor all projects in a manner consistent with
195 available resources to ensure that resources are used in
196 accordance with this paragraph; however, each project must be
197 reviewed at least once every 2 years.
198 d. The Department of Economic Opportunity shall, in
199 consultation with the statewide and regional housing and
200 financial intermediaries, market the availability of the
201 community contribution tax credit program to community-based
202 organizations.
203 5. Expiration.—This paragraph expires June 30, 2025 2016;
204 however, any accrued credit carryover that is unused on that
205 date may be used until the expiration of the 3-year carryover
206 period for such credit.
207 Section 2. Paragraph (t) of subsection (1) of section
208 220.03, Florida Statutes, is amended to read:
209 220.03 Definitions.—
210 (1) SPECIFIC TERMS.—When used in this code, and when not
211 otherwise distinctly expressed or manifestly incompatible with
212 the intent thereof, the following terms shall have the following
213 meanings:
214 (t) “Project” means any activity undertaken by an eligible
215 sponsor, as defined in s. 220.183(2)(c), which is designed to
216 construct, improve, or substantially rehabilitate housing that
217 is affordable to low-income or very-low-income households as
218 defined in s. 420.9071(19) and (28); designed to provide housing
219 opportunities for persons with special needs; designed to
220 provide commercial, industrial, or public resources and
221 facilities; or designed to improve entrepreneurial and job
222 development opportunities for low-income persons. A project may
223 be the investment necessary to increase access to high-speed
224 broadband capability in rural communities with enterprise zones,
225 including projects that result in improvements to communications
226 assets that are owned by a business. A project may include the
227 provision of museum educational programs and materials that are
228 directly related to any project approved between January 1,
229 1996, and December 31, 1999, and located in an enterprise zone
230 designated pursuant to s. 290.0065. This paragraph does not
231 preclude projects that propose to construct or rehabilitate low
232 income or very-low-income housing on scattered sites; or housing
233 opportunities for persons with special needs. With respect to
234 housing, contributions may be used to pay the following eligible
235 project-related activities:
236 1. Project development, impact, and management fees for
237 special needs, low-income or very-low-income housing projects;
238 2. Down payment and closing costs for eligible persons, as
239 defined in s. 420.9071(19) and (28);
240 3. Administrative costs, including housing counseling and
241 marketing fees, not to exceed 10 percent of the community
242 contribution, directly related to special needs, low-income or
243 very-low-income projects; and
244 4. Removal of liens recorded against residential property
245 by municipal, county, or special-district local governments when
246 satisfaction of the lien is a necessary precedent to the
247 transfer of the property to an eligible person, as defined in s.
248 420.9071(19) and (28), for the purpose of promoting home
249 ownership. Contributions for lien removal must be received from
250 a nonrelated third party.
251
252 3The provisions of this paragraph shall expire and be void on
253 June 30, 2025 2015.
254 Section 3. Subsections (1), (2) and (5) or section 220.183,
255 Florida Statutes, are amended to read,
256 220.183 Community contribution tax credit.—
257 (1) AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX
258 CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM
259 SPENDING.—
260 (a) There shall be allowed a credit of 50 percent of a
261 community contribution against any tax due for a taxable year
262 under this chapter.
263 (b) No business firm shall receive more than $200,000 in
264 annual tax credits for all approved community contributions made
265 in any one year.
266 (c) The total amount of tax credit which may be granted for
267 all programs approved under this section, s. 212.08(5)(p), and
268 s. 624.5105 is $18.4 million annually for projects that provide
269 housing opportunities for persons with special needs as defined
270 in s. 420.0004 and for homeownership opportunities for low
271 income households or very-low-income households as defined in s.
272 420.9071 and $3.5 million annually for all other projects.
273 (d) All proposals for the granting of the tax credit shall
274 require the prior approval of the Department of Economic
275 Opportunity.
276 (e) If the credit granted pursuant to this section is not
277 fully used in any one year because of insufficient tax liability
278 on the part of the business firm, the unused amount may be
279 carried forward for a period not to exceed 5 years. The
280 carryover credit may be used in a subsequent year when the tax
281 imposed by this chapter for such year exceeds the credit for
282 such year under this section after applying the other credits
283 and unused credit carryovers in the order provided in s.
284 220.02(8).
285 (f) A taxpayer who files a Florida consolidated return as a
286 member of an affiliated group pursuant to s. 220.131(1) may be
287 allowed the credit on a consolidated return basis.
288 (g) A taxpayer who is eligible to receive the credit
289 provided for in s. 624.5105 is not eligible to receive the
290 credit provided by this section.
291 (2) ELIGIBILITY REQUIREMENTS.—
292 (a) All community contributions by a business firm shall be
293 in the form specified in s. 220.03(1)(d).
294 (b)1. All community contributions must be reserved
295 exclusively for use in projects as defined in s. 220.03(1)(t).
296 2. If, during the first 10 business days of the state
297 fiscal year, eligible tax credit applications for projects that
298 provide housing opportunities for persons with special needs or
299 homeownership opportunities for low-income or very-low-income
300 households as defined in s. 420.9071(19) and (28) are received
301 for less than the annual tax credits available for those
302 projects, the Department of Economic Opportunity shall grant tax
303 credits for those applications and shall grant remaining tax
304 credits on a first-come, first-served basis for any subsequent
305 eligible applications received before the end of the state
306 fiscal year. If, during the first 10 business days of the state
307 fiscal year, eligible tax credit applications for projects that
308 provide housing opportunities for persons with special needs or
309 homeownership opportunities for low-income or very-low-income
310 households as defined in s. 420.9071(19) and (28) are received
311 for more than the annual tax credits available for those
312 projects, the Department of Economic Opportunity shall grant the
313 tax credits for those applications as follows:
314 a. If tax credit applications submitted for approved
315 projects of an eligible sponsor do not exceed $200,000 in total,
316 the credit shall be granted in full if the tax credit
317 applications are approved.
318 b. If tax credit applications submitted for approved
319 projects of an eligible sponsor exceed $200,000 in total, the
320 amount of tax credits granted under sub-subparagraph a. shall be
321 subtracted from the amount of available tax credits, and the
322 remaining credits shall be granted to each approved tax credit
323 application on a pro rata basis.
324 3. If, during the first 10 business days of the state
325 fiscal year, eligible tax credit applications for projects other
326 than those that provide housing opportunities for persons with
327 special needs or homeownership opportunities for low-income or
328 very-low-income households as defined in s. 420.9071(19) and
329 (28) are received for less than the annual tax credits available
330 for those projects, the Department of Economic Opportunity shall
331 grant tax credits for those applications and shall grant
332 remaining tax credits on a first-come, first-served basis for
333 any subsequent eligible applications received before the end of
334 the state fiscal year. If, during the first 10 business days of
335 the state fiscal year, eligible tax credit applications for
336 projects other than those that provide housing opportunities for
337 persons with special needs or homeownership opportunities for
338 low-income or very-low-income households as defined in s.
339 420.9071(19) and (28) are received for more than the annual tax
340 credits available for those projects, the Department of Economic
341 Opportunity shall grant the tax credits for those applications
342 on a pro rata basis.
343 (c) The project must be undertaken by an “eligible
344 sponsor,” defined here as:
345 1. A community action program;
346 2. A nonprofit community-based development organization
347 whose mission is the provision of housing for persons with
348 special needs, low-income or very-low-income households or
349 increasing entrepreneurial and job-development opportunities for
350 low-income persons;
351 3. A neighborhood housing services corporation;
352 4. A local housing authority, created pursuant to chapter
353 421;
354 5. A community redevelopment agency, created pursuant to s.
355 163.356;
356 6. A historic preservation district agency or organization;
357 7. A regional workforce board;
358 8. A direct-support organization as provided in s.
359 1009.983;
360 9. An enterprise zone development agency created pursuant
361 to s. 290.0056;
362 10. A community-based organization incorporated under
363 chapter 617 which is recognized as educational, charitable, or
364 scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
365 and whose bylaws and articles of incorporation include
366 affordable housing, economic development, or community
367 development as the primary mission of the corporation;
368 11. Units of local government;
369 12. Units of state government; or
370 13. Such other agency as the Department of Economic
371 Opportunity may, from time to time, designate by rule.
372
373 In no event shall a contributing business firm have a financial
374 interest in the eligible sponsor.
375 (d) The project shall be located in an area designated as
376 an enterprise zone or a Front Porch Florida Community. Any
377 project designed to construct or rehabilitate housing for low
378 income or very-low-income households as defined in s.
379 420.9071(19) and (28) or housing opportunities for persons with
380 special needs is exempt from the area requirement of this
381 paragraph. This section does not preclude projects that propose
382 to construct or rehabilitate housing for low-income or very-low
383 income households on scattered sites; or housing opportunities
384 for persons with special needs. Any project designed to provide
385 increased access to high-speed broadband capabilities which
386 includes coverage of a rural enterprise zone may locate the
387 project’s infrastructure in any area of a rural county.
388 (5) EXPIRATION.—The provisions of this section, except
389 paragraph (1)(e), expire and are void on June 30, 2025 2016
390 Section 4. Subsections (1), (2), and (6) of section
391 624.5105, Florida Statutes, are amended to read:
392 624.5105 Community contribution tax credit; authorization;
393 limitations; eligibility and application requirements;
394 administration; definitions; expiration.—
395 (1) AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.—
396 (a) There shall be allowed a credit of 50 percent of a
397 community contribution against any tax due for a calendar year
398 under s. 624.509 or s. 624.510.
399 (b) No insurer shall receive more than $200,000 in annual
400 tax credits for all approved community contributions made in any
401 one year.
402 (c) The total amount of tax credit which may be granted for
403 all programs approved under this section and ss. 212.08(5)(p)
404 and 220.183 is $18.4 million annually for projects that provide
405 housing opportunities for persons with special needs as defined
406 in s. 420.0004 or homeownership opportunities for low-income or
407 very-low-income households as defined in s. 420.9071 and $3.5
408 million annually for all other projects.
409 (d) Each proposal for the granting of such tax credit
410 requires the prior approval of the director.
411 (e) If the credit granted pursuant to this section is not
412 fully used in any one year because of insufficient tax liability
413 on the part of the insurer, the unused amount may be carried
414 forward for a period not to exceed 5 years. The carryover credit
415 may be used in a subsequent year when the tax imposed by s.
416 624.509 or s. 624.510 for such year exceeds the credit under
417 this section for such year.
418 (f) An insurer that claims a credit against premium-tax
419 liability earned by making a community contribution under this
420 section need not pay any additional retaliatory tax levied under
421 s. 624.5091 as a result of claiming such a credit. Section
422 624.5091 does not limit such a credit in any manner.
423 (2) ELIGIBILITY REQUIREMENTS.—
424 (a) Each community contribution by an insurer must be in a
425 form specified in subsection (5).
426 (b) Each community contribution must be reserved
427 exclusively for use in a project as defined in s. 220.03(1)(t).
428 (c) The project must be undertaken by an “eligible
429 sponsor,” as defined in s. 220.183(2)(c). In no event shall a
430 contributing insurer have a financial interest in the eligible
431 sponsor.
432 (d) The project shall be located in an area designated as
433 an enterprise zone or a Front Porch Community. Any project
434 designed to provide housing opportunties for persons with
435 special needs or designed to construct or rehabilitate housing
436 for low-income or very-low-income households as defined in s.
437 420.9071(19) and (28) is exempt from the area requirement of
438 this paragraph.
439 (e)1. If, during the first 10 business days of the state
440 fiscal year, eligible tax credit applications for projects that
441 provide housing opportunities for persons with special needs or
442 provide homeownership opportunities for low-income or very-low
443 income households as defined in s. 420.9071(19) and (28) are
444 received for less than the annual tax credits available for
445 those projects, the Department of Economic Opportunity shall
446 grant tax credits for those applications and shall grant
447 remaining tax credits on a first-come, first-served basis for
448 any subsequent eligible applications received before the end of
449 the state fiscal year. If, during the first 10 business days of
450 the state fiscal year, eligible tax credit applications for
451 projects that provide housing opportunities for persons with
452 special needs or provide homeownership opportunities for low
453 income or very-low-income households as defined in s.
454 420.9071(19) and (28) are received for more than the annual tax
455 credits available for those projects, the Department of Economic
456 Opportunity shall grant the tax credits for those applications
457 as follows:
458 a. If tax credit applications submitted for approved
459 projects of an eligible sponsor do not exceed $200,000 in total,
460 the credits shall be granted in full if the tax credit
461 applications are approved.
462 b. If tax credit applications submitted for approved
463 projects of an eligible sponsor exceed $200,000 in total, the
464 amount of tax credits granted under sub-subparagraph a. shall be
465 subtracted from the amount of available tax credits, and the
466 remaining credits shall be granted to each approved tax credit
467 application on a pro rata basis.
468 2. If, during the first 10 business days of the state
469 fiscal year, eligible tax credit applications for projects other
470 than those that provide housing opportunities for persons with
471 special needs or provide homeownership opportunities for low
472 income or very-low-income households as defined in s.
473 420.9071(19) and (28) are received for less than the annual tax
474 credits available for those projects, the Department of Economic
475 Opportunity shall grant tax credits for those applications and
476 shall grant remaining tax credits on a first-come, first-served
477 basis for any subsequent eligible applications received before
478 the end of the state fiscal year. If, during the first 10
479 business days of the state fiscal year, eligible tax credit
480 applications for projects other than those that provide housing
481 opportunities for persons with special needs or provide
482 homeownership opportunities for low-income or very-low-income
483 households as defined in s. 420.9071(19) and (28) are received
484 for more than the annual tax credits available for those
485 projects, the Department of Economic Opportunity shall grant the
486 tax credits for those applications on a pro rata basis.
487 (6) EXPIRATION.—The provisions of this section, except
488 paragraph (1)(e), expire and are void on June 30, 2025 2016.
489
490 ================= T I T L E A M E N D M E N T ================
491 And the title is amended as follows:
492 Delete lines 4 - 24
493 and insert:
494 624.5105, F.S.; expanding the community contribution
495 tax credit against the sales and use tax, corporate
496 income tax, and insurance premium tax for
497 contributions made to eligible sponsors of specified
498 projects to include contributions made to eligible
499 sponsors of housing projects for persons with certain
500 special needs; extending the expiration date
501 applicable to the granting of the community
502 contribution tax credit against such taxes; providing
503 an effective