Title: Urban High-Crime Area Job Tax Credit Program

Summary: Revises application requirements; requires revocation of approved tax credits if location of eligible business loses its designation as high-crime area.

Full Text:
An act relating to the urban high-crime area job tax credit program; amending s. 212.097, F.S.; revising application requirements; requiring the revocation of approved tax credits if the location of the eligible business loses its designation as a high-crime area; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Paragraph (b) of subsection (3) and subsec tions (10) and (11) of section 212.097, Florida Statutes, are amended, and a new subsection (11) is added to that section, to read: 212.097 Urban High-Crime Area Job Tax Credit Program.-(3) (b) An existing eligible business that filed an application for a tax credit under this subsection on or after January 1, 2009, and was denied because of the limitation set forth in subsection (5) at the time of such application, may refile the application on or before December 31, 2012, if the number of qualified employees employed on the day the denied application is refiled is no lower than the number of qualified employees on the day the denied application was initially filed. Any credit resulting from the refiled application is subject to the aggregate limitati on set forth in subsection (11) (10) for the calendar year 2012. For purposes of applying the tax credit HB 1349 2014 eligibility determination required by this section to the refiled application, the terms "date of application" and "application date" mean the date the denied application was initially filed. (10)(a) In order to claim this credit, an eligible business must file an application under oath with the Department of Economic Opportunity which a statement that includes the name and address of the eligible busi ness and any other information that is required to process the application. (a)(b) Applications shall be reviewed and certified pursuant to s. 288.061. (b)(c) The maximum credit amount that may be approved during any calendar year is $5 million, of whi ch $1 million shall be exclusively reserved for tier-one areas. The Department of Revenue, in conjunction with the Department of Economic Opportunity, shall notify the governing bodies in areas designated as urban high-crime areas when the $5 million maxim um amount has been reached. Applications shall must be considered for approval in the order in which they are received without regard to whether the credit is for a new or existing business. This limitation applies to the value of the credit as contained in approved applications. Approved credits may be taken in the time and manner allowed pursuant to this section. (c)(11) If the application is insufficient to support the credit authorized in this section, the Department of Economic Opportunity shall deny the credit and notify the business of HB 1349 2014 that fact. The business may reapply for this credit within 53 months after such notification. (d) Any credit approved pursuant to this section shall be revoked if the location of the eligible business loses its designation as a high-crime area. (11) The maximum credit amount that may be approved during a calendar year is $5 million, of which $1 million shall be exclusively reserved for tier-one areas. The Department of Revenue, in conjunction with the Department of Economic Opportunity, shall notify the governing bodies in areas designated as urban high-crime areas when the $5 million maximum credit amount has been reached. Section 2. This act shall take effect July 1, 2014.