HB 1099 Summary

• Creates the "Urban Job Creation Investment Act" establishing a Florida Urban Investment Job Creation Authority and zone development corporations to administer enterprise program zones in legacy enterprise zones and federally designated empowerment zones.

• Provides state incentives for qualified businesses located in enterprise program zones, including 50% sales and use tax credits, 8% corporate income tax credits, $1,500 per new employee credits, and unemployment contribution exemptions for wages under $4,500 per quarter.

• Requires qualified businesses to have at least 25% of full-time employees from specified categories: zone residents, long-term unemployed persons, temporary cash assistance recipients, or low-income individuals as defined by federal workforce law.

• Establishes enterprise program zone assistance funds administered by zone development corporations to provide loans, loan guarantees, loan-loss reserves, and investments for business projects meeting urban planning and job creation criteria.

• Expires June 30, 2021, with all enterprise program zones abolished and business incentives terminating on that date; requires an effectiveness review by January 15, 2021.