HB 1335 (2012) -  Economic Development

General Bill by Jenne (CO-SPONSORS) Berman; Bullard; Clemens; Cruz; Fullwood; Kriseman; Pafford; Perman; Randolph
Economic Development: Creates "Fair Economy Act"; requires members of unitary business (or water's edge group) to file combined corporate income tax return & allocate income to Florida using single apportionment computation; disregards intercompany transactions between affiliated entities; adopts throw-out rule for sales & income attributable to Florida by members whose activities are excluded from apportionment; requires water's edge group to file domestic disclosure spreadsheet disclosing income reported to each state, state tax liability, & method used to apportion or allocate income to each state; provides transition rules; requires DEO, with DOR, to submit annual report of economic development incentives & state expenditures for economic development activities; provides for withholding of certain funds from property-taxing authorities that do not submit reports; requires granting authorities to use unified application for award of incentives, submit approved applications to DEO, & submit progress reports to DEO on incentives; requires recipient corporations & their corporate parents to provide access to project sites & certain records; authorizes fines against recipient corporations that do not grant access or submit reports; provides for recapture & repayment of incentives from recipient corporations that do not meet certain job, wage, & employee benefit requirements or whose corporate parents do not maintain certain levels of employment in state.
Effective Date: July 1, 2012
Last Event: Died in Business & Consumer Affairs Subcommittee on Friday, March 9, 2012 11:59 PM

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: HB 1347 Subject: Corporate Transparency in the State Budget Relationship: Compare
Bill #: SB 1590 Subject: Corporate Income Tax Relationship: Compare
Bill #: SB 1592 Subject: Economic Development Subsidies Relationship: Compare
Bill #: SB 1870 Subject: Corporate Transparency in the State Budget Relationship: Compare

Bill Text

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Business & Consumer Affairs Subcommittee Time: 03/09/2012 - 11:59 PM Member: Committee: Business & Consumer Affairs Subcommittee Version: __
Event: H Now in Business & Consumer Affairs Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Business & Consumer Affairs Subcommittee Version: __
Event: H Referred to Economic Affairs Committee Time: 01/12/2012 - 11:18 AM Member: Committee: Economic Affairs Committee Version: __
Event: H Referred to Transportation & Economic Development Appropriations Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Transportation & Economic Development Appropriations Subcommittee Version: __
Event: H Referred to Finance & Tax Committee Time: 01/12/2012 - 11:18 AM Member: Committee: Finance & Tax Committee Version: __
Event: H Referred to Business & Consumer Affairs Subcommittee Time: 01/12/2012 - 11:18 AM Member: Committee: Business & Consumer Affairs Subcommittee Version: __
Event: H 1st Reading Time: 01/10/2012 - 11:59 PM Member: Committee: Version: __
Event: H Filed Time: 01/06/2012 - 2:36 PM Member: Jenne Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
220.03 SB 76, SB 588, HB 767, HB 1345, HB 1413, CS/CS/SB 1416, SB 1590, CS/SB 2068, CS/HB 7027*, HB 7089
220.13 SB 76, HB 105, SB 160, SB 236, SB 588, HB 767, HB 1057, SB 1288, HB 1345, HB 1413, SB 1590
220.131 SB 1590
220.136 SB 1590
220.1363 SB 1590
220.14 CS/CS/CS/SB 1108, SB 1590, HB 7087*
220.15 SB 1590
220.183 CS/SB 1204, SB 1590, CS/HB 7041*
220.1845 SB 1590, SB 1634, HB 4131
220.1875 SB 1590
220.191 HB 507, SB 684, CS/CS/SB 1416, SB 1590, CS/HB 7027*
220.192 SB 1590, CS/CS/CS/SB 2094, CS/CS/HB 7117*
220.193 SB 1590, CS/CS/CS/SB 2094, CS/CS/HB 7117*
220.51 SB 1590
220.64 SB 1590
288.1254 CS/SB 1204, SB 1590, SB 2122, CS/HB 7041*, HB 7087*
376.30781 SB 1590, SB 1634, HB 4131
627.6699 HB 1151, SB 1220, SB 1374, SB 1590, CS/CS/SB 1620, HB 4139*, HB 7091

(*) Not the latest version