FEDC Inside Track For Legislative Affairs: House Economic Development Policy Committee Incorporates FEDC Recommendations
Mar 4, 2009
The House Economic Development Policy Committee met this morning, March 4, 2009, and, as part of its agenda, reviewed Proposed Committee Bill EDP-1 Relating to Economic Development.
EDP-1, which passed the Committee and will be assigned a bill number, includes tax credit provisions for 30 of the 35 rural Florida counties that have a fiscal restraint. The bill also amends several sections of Florida law to replace an outdated coding system with the federally-recognized standard coding system used to classify businesses and amends several state economic development programs.
As a result of Florida Economic Development Council (“FEDC”) President and Chief Executive Officer Amy Evancho’s previous appearance before the Committee, a number of FEDC member suggestions now are included in this first draft.
Ms. Evancho’s extensive presentation provided the Committee with information on issues impacting Florida’s ability to maximize economic development and, in some cases, prevent the State of Florida’s ability to secure economic development opportunities.
She also provided recommendations given to her by FEDC members on the solutions for these issues. These suggestions were a result of feedback received from FEDC members based on a survey sent out early this year.
Some of the proposed changes in EDP-1 relate to:
- Incentive process timelines
- The Qualified Defense Contractor and Space Flight Contractor Tax Refund Program
- The Qualified Target Industry Tax Refund Program
- Brownfield Redevelopment Bonus Refunds
- Tax Benefit Incentives
- Rural Economic Development
A copy of PCB EDP-1 is attached for your review.
Should you have any questions or comments, please contact Tracy Mayernick at Colodny Fass.
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