FL H1269

Transfers additional sales tax revenue to the Revenue Sharing Trust Fund for Municipalities by requiring the Department of Revenue to determine and transfer increased sales tax collections from designated enterprise zones to eligible redevelopment agencies.

Authorizes municipalities with populations greater than 250,000 that have designated enterprise zones to create sales tax increment redevelopment districts and receive a tiered percentage distribution of state sales tax increases (85% for increases under $1 million down to 0% for increases of $12 million or more).

Grants designated redevelopment agencies powers to enter into contracts, acquire and manage property, promote commercial development, and issue revenue bonds secured by sales tax distributions to finance public and private improvements in the redevelopment district.

Requires that any development agreement between a redevelopment agency and private sponsor receiving sales tax proceeds must include a binding requirement to create at least 500 full-time jobs.

Effective July 1, 2011.