27M-6.001: Definitions and Forms
27M-6.002: Application Process
27M-6.003: Certification
PURPOSE AND EFFECT: The proposed rule implements the Manufacturing and Spaceport Investment Incentive Program as created by Section 288.1083, F.S.
SUMMARY: The proposed rule governs the application and certification process used by the Office of Tourism, Trade, and Economic Development for the program.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: OTTED will incur costs associated with reviewing and processing applications. This review includes a cost incurred by reviewing the financial history of an applicant through an outside agency. There should be no transactional costs for any entity applying to participate as a loan administrator since no additional licenses, registrations, or fees were required by this rule. There are costs associated with copying and duplicating information submitted in the application, however, such costs are offset by the potential refund.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 288.1083(9) FS.
LAW IMPLEMENTED: 288.1083 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Tim Proctor, Office of Tourism, Trade, and Economic Development, Suite 1902, The Capitol, Tallahassee, Florida 32399, (850)487-2568, timothy.proctor@myflorida.com
THE FULL TEXT OF THE PROPOSED RULE IS:
27M-6.001 Definitions and Forms.
As used in Rules 27M-6.001, 27M-6.002, and 27M-6.003, F.A.C., the following capitalized terms have the meanings indicated. All referenced forms are available on the internet at http://www.flgov.com/financial_incentives or may be obtained from the Office.
(1) “Allocation” means a set aside of available tax refund amounts.
(2) “Allocation Application” means the standard “Manufacturing and Spaceport Investment Incentives Program Allocation Application” form OTTED 9102-1 (6/10), which is hereby incorporated by reference.
(3) “Applicant” means a business that seeks Certification under Section 288.1083, F.S.
(4) “Application Period” means July 1, 2010 through June 30, 2011 for the 2010-11 Fiscal Year and then January 1 through June 30 of each fiscal year thereafter.
(5) “Certification” means the approval of eligible equipment purchases required for application to the Department of Revenue for a tax refund payment.
(6) “Office” means the Office of Tourism, Trade, and Economic Development, whose address is Suite 1902, The Capitol, 402 S. Monroe Street, Tallahassee, Florida 32399-0001.
(7) “Request for Certification” means the standard “Manufacturing and Spaceport Investment Incentives Program Request for Certification” form OTTED 9102-2 (6/10) which is hereby incorporated by reference.
Rulemaking Authority 288.1083(9) FS. Law Implemented 288.1083 FS. History–New________.
27M-6.002 Application Process.
(1) An Applicant shall submit the original of its completed Allocation Application to the Office during the Application Period.
(2) The Office shall date and time stamp all Applications upon receipt, and thereafter take reasonable steps to preserve the integrity of the Application.
(3) The Office shall have ten (10) business days to review each Allocation Application for completeness and to notify any Applicant in writing if the Office determines that its Allocation Application is incomplete. The Office’s notice shall specify the reasons for its determination, and the Applicant shall have fifteen (15) business days after receipt of such notice to submit a revised Allocation Application to the Office. If the Applicant fails to submit a revised Allocation Application within the required time, the Office shall notify the Applicant in writing that it is removed from further consideration for that Application Period.
(4) The Office shall evaluate each complete Allocation Application in accordance with the requirements of Section 288.1083, F.S.
(5) Within thirty (30) days after an Allocation Application is deemed complete, the Office shall approve or disapprove each Allocation Application. If an Allocation Application is approved, the Office shall issue an Allocation up to $50,000 of tax refunds to the successful Applicant, providing written notice of such Allocation to the Applicant.
Rulemaking Authority 288.1083(9) FS. Law Implemented 288.1083 FS. History–New________.
27M-6.003 Certification.
(1) Within thirty (30) days after the Applicant has purchased the eligible equipment that was the basis for the original Allocation, the Applicant shall provide a Request for Certification and required supporting documentation to the Office prior to September 1st of the fiscal year following the fiscal year the Allocation was issued.
(2) If the Request for Certification and supporting documentation is not received prior to September 1st of the fiscal year following the fiscal year the Allocation was issued, the allocation will be withdrawn and issued to the next Applicant in the queue.
(3) The Office shall review such documentation to confirm the cost of eligible equipment purchases supporting the claim of State sales and use tax paid thereon.
(4) If the Office disapproves the request for certification, the Office shall notify the Applicant, specifying the reason for such determination.
(5) If the Office approves the Request for Certification, the Office shall notify the Applicant and the Florida Department of Revenue.
(6) The Office’s decisions shall be subject to review under Chapter 120, F.S.
Rulemaking Authority 288.1081(7) FS. Law Implemented 288.1081 FS. History–New________.