- Florida Economic Development Legislation - Senate Bill 1752
- May 25, 2010 | Authors: Beverly Grady; K'Shana J. Haynie; Douglas A. Lewis; Robert D. Pritt
- Law Firms: Roetzel & Andress A Legal Professional Association - Naples Office ; Roetzel & Andress A Legal Professional Association - Fort Myers Office ; Roetzel & Andress A Legal Professional Association - Akron Office
Did you forget to take advantage of the permit extensions offered last year by Senate Bill 360 legislation? Did you take advantage of the two-year permit extension authorized by S.B. 360 (2009) legislation, but still need an additional extension to complete your project?
If you answered "yes" to either of the above questions, then you may qualify for a two-year permit extension of your project. For those permit-holders that took advantage of the two year permit extension in 2009, this extension would be in addition to the previously granted extension.
Florida Governor Crist is anticipated to sign S.B. 1752 within 15 days of receiving the bill. This legislation provides for certain economic development incentives and assistance to stimulate and provide support to the economic market. One supportive measure is the authorization of a two year permit extension for any development order or building permit issued by local government (county or municipality), Department of Environmental Protection, or water management district. In order to be eligible for this extension, the permit must have an expiration date between September 1, 2008 and January 1, 2012. The two-year extension also applies to build out dates for developments of regional impact (DRIs) under Florida Statutes § 380.06(19)(c). A holder of a permit that expires between the dates listed above must notify the authorizing agency in writing of the intention to utilize the two-year extension by December 31, 2010. There are certain permits for which a two-year extension may not apply.
ECONOMIC DEVELOPMENT-TAX INCENTIVES
Senate Bill 1752, referred to as the "Jobs Bill" by the legislature, politicians and other interested groups, targets specific industries in need of an economic boost, such as the marine/boating industry. S.B. 1752 amends Florida Statutes, § 212.05 to add a new subsection, which provides a maximum amount of tax of $18,000 that may be imposed and collected on the sale or use of a boat in the state.
Tax Credit - Jobs for Unemployed
S.B. 1752 would also create a tax credit program (pursuant to Florida Statutes 220.1896) for targeted industry businesses to receive a $1,000 tax credit per employee that:
- was hired for full-time employment of at least 36 hours per week;
- has been employed by the business for at least 12 months; and
- was unemployed for the immediate 30 days prior to being hired by the targeted industry business.
In order to qualify for the $1,000 tax credit, the targeted industry business must become a certified business by filing an applicable application with the Office of Tourism, Trade and Economic Development.