HB 1345 Summary

• Establishes the "Municipal Revitalization Act" authorizing creation of sales tax increment districts within enterprise zones to finance retail development projects.

• Creates the "Urban Job Creation Investment Act" establishing the Florida Urban Investment Job Creation Authority to designate enterprise program zones and administer tax credits and incentives for qualified businesses.

• Authorizes sales tax credits of 50% and corporate income tax credits of 8% for qualified businesses located in enterprise program zones, with additional $1,500 credits for hiring employees from disadvantaged backgrounds.

• Provides tax credits for corporate and insurance premium taxes related to child care facility startup costs and payments, with maximum annual credits of $2 million combined across both programs.

• Extends H. Lee Moffitt Cancer Center funding from cigarette tax collections from fiscal year 2013 through June 30, 2045 at 4.88% of net collections, and allows use of funds to secure financing for facility operations and maintenance.