HB 1413 - Urban Job Creation Investment Act Summary

• Creates the Florida Urban Investment Job Creation Authority to designate and oversee enterprise program zones in legacy enterprise zones and federally designated empowerment zones, with an 11-member board appointed by the Governor and legislative leadership.

• Establishes zone development corporations to administer enterprise program zones, approve projects, and manage assistance funds providing loans, loan guarantees, and investments to qualified businesses.

• Provides state incentives for qualified businesses located in enterprise program zones, including 50% sales tax credits, 8% corporate income tax credits, $1,500 per-employee hiring credits, and unemployment contribution exemptions, effective July 1, 2013.

• Requires qualified businesses to have at least 25% of full-time employees residing in the zone or meeting criteria such as prior unemployment or temporary cash assistance eligibility.

• Establishes an automatic expiration date of June 30, 2022, with a requirement for the Office of Program Policy Analysis and Government Accountability to evaluate program effectiveness and submit findings to the Legislature by January 15, 2022.