SB 76 Summary

• Creates the "Urban Job Creation Investment Act" establishing enterprise program zones in legacy enterprise zones and federally designated empowerment zones, with state incentives including sales tax credits (50% on sales/use tax and tangible property), corporate income tax credits (8% on corporate income tax), and unemployment contribution exemptions for qualified businesses.

• Establishes the Florida Urban Investment Job Creation Authority and zone development corporations to designate and administer enterprise program zones, certify qualified businesses, and manage enterprise program zone assistance funds providing loans, loan guarantees, and investments.

• Authorizes municipalities with populations of at least 250,000 residents and certain counties to designate sales tax increment districts within enterprise zones, allowing them to receive distributions of increased sales tax revenues (85% of increases up to $85,000 monthly, declining percentages for higher amounts) and issue bonds backed by tax increment revenues.

• Creates new tax credits including a corporate tax credit for corporations contracting with small businesses (10% of payments, maximum $1,500 per new employee) and extends cigarette tax distributions to the H. Lee Moffitt Cancer Center through 2045 (4.88% of collections), allowing the center broader use of funds beyond facility construction.

• Makes regulatory changes including allowing barbers to provide services at places of employment, exempting makeup service providers from cosmetology licensing, and allowing cosmetology services at special events; extends contractor certification application deadline to November 1, 2014; and creates a job creation sales tax credit (20% of wages for new employees) expiring June 30, 2017.