Bill Text: FL S1960 | 2010 | Regular Session | Introduced
Bill Title: Talent & Economic Advancement Matching Grant Prog. [SPSC]
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2010-04-30 - Died in Committee on Higher Education [S1960 Detail]
Download: Florida-2010-S1960-Introduced.html
Florida Senate - 2010 SB 1960 By Senator Bennett 21-01306-10 20101960__ 1 A bill to be entitled 2 An act relating to the Talent and Economic Advancement 3 Matching Grant Program; providing legislative 4 findings; establishing the Talent and Economic 5 Advancement Matching Grant Program within the 6 Department of Education for certain purposes; 7 providing for administration of the program by the 8 Office of Student Financial Assistance; authorizing 9 businesses to identify certain talent needs and 10 partner with certain schools to provide certain 11 educational programs; authorizing the office to match 12 certain private-sector contributions for certain 13 purposes; providing a limitation; authorizing the 14 state to match private-sector contributions; requiring 15 schools participating in the program to provide 16 additional matching funds; authorizing the state to 17 appropriate moneys to match certain unmatched 18 expenditures; requiring the program to provide grants 19 to certain students for certain purposes; specifying 20 grant criteria; providing program funding criteria; 21 requiring the office to annually report to the 22 Legislature; specifying report requirements; requiring 23 the office to report expenditures that were not 24 matched by the state; providing for a corporate income 25 tax credit for contributions to the program; providing 26 limitations; providing for taking the credit on 27 consolidated returns; authorizing taxpayers to rescind 28 tax credits under certain circumstances; providing 29 requirements and procedures for rescinding the credit; 30 specifying ineligibility of certain taxpayers to 31 receive the credit; providing an effective date. 32 33 Be It Enacted by the Legislature of the State of Florida: 34 35 Section 1. (1) The Legislature finds that: 36 (a) Businesses in this state are engaged in a highly 37 competitive arena. Being so engaged, these businesses are in a 38 unique position to determine their current and future talent 39 needs. 40 (b) Modern industry must adapt rapidly to the changing 41 competitive environment and that talent needs may likewise shift 42 dramatically in relatively short periods of time. 43 (c) The success of both the public and private sectors in 44 this state is dependent upon a business-friendly environment 45 that uses the talent base of state residents. 46 (d) Economic recovery and economic prosperity are dependent 47 upon a skilled and capable workforce being available to enable 48 industry growth. 49 (e) This state has many great advantages in the competitive 50 talent markets, one of the greatest of which is the available 51 talent from those who have been trained and educated in a branch 52 of the United States military service. 53 (f) The spouses and children of United States military 54 service personnel stationed in this state comprise one of the 55 greatest pools of underutilized talent in this state. 56 (g) The existing educational opportunities are inadequate 57 to meet all of the talent needs of existing and future 58 industrial sectors. 59 (h) The educational sector licensed by the Commission for 60 Independent Education has a history of rapid market adaptation 61 and flexibility in the talent development process. 62 (i) Students are increasingly seeking to enroll at schools 63 for technical and high-skill, high-wage training. 64 (2) The Talent and Economic Advancement Matching Grant 65 Program is established within the Department of Education. The 66 purpose of the program is to provide businesses in this state 67 with a means of securing world-class talent through partnerships 68 between the state and schools of higher education and businesses 69 in the state to provide greater access to higher education for 70 residents of the state. The program shall be administered by the 71 Office of Student Financial Assistance. 72 (3) A business in this state may identify unmet talent 73 needs and partner with a school, licensed by the Commission for 74 Independent Education and accredited by a national or regional 75 accrediting agency or association recognized by the United 76 States Department of Education, to provide educational programs 77 creating talent in the areas of science, technology, 78 engineering, mathematics, allied health, or any other high 79 skill, high-wage occupation. The Office of Student Financial 80 Assistance may match private-sector contributions up to $2,000 81 per year per student for educational grants to students studying 82 in eligible programs. The state may match private-sector 83 contributions on a dollar-for-dollar basis. If a participating 84 student is a veteran or the spouse or child of military 85 personnel on active duty, schools participating in the program 86 must agree to provide an additional matching dollar in the form 87 of reduced tuition or fees or in the form of a scholarship for 88 every state dollar provided. Participating educational 89 institutions may also provide other students with reductions in 90 tuition or fees or with scholarships in addition to private 91 sector-match resources. The state may also appropriate moneys to 92 match expenditures by institutions that were not matched in 93 previous years due to limited state resources. 94 (4) The program shall provide grants to students enrolled 95 in career educational programs designed for occupations in 96 science, technology, engineering, mathematics, allied health, or 97 in any other high-skill, high-wage occupation as determined by 98 the Occupational Forecasting Conference. The grant shall be 99 provided to students to cover educational costs, including, but 100 not limited to, tuition, books, or fees, of students in this 101 state who are: 102 (a) Residents of this state; 103 (b) Enrolled in degree or certificate programs at schools 104 licensed by the Commission for Independent Education and 105 accredited by a national or regional accrediting agency or 106 association recognized by the United States Department of 107 Education; and 108 (c) Enrolled in career educational programs designed for 109 careers in science, technology, engineering, mathematics, allied 110 health, or any other high-skill, high-wage occupation as 111 determined by the Occupational Forecasting Conference. 112 (5) Funding for the program depends upon legislative 113 appropriation. When total amounts from applications for 114 resources exceed the amount of an appropriation, participation 115 shall be on a first-come, first-served basis as determined by 116 the Office of Student Financial Assistance. 117 (6) Annually, the Office of Student Financial Assistance 118 shall report to the President of the Senate and the Speaker of 119 the House of Representatives the number of businesses 120 participating in the program, the private-sector match, the 121 number of students participating in the program, the educational 122 programs identified by businesses for participation, the 123 educational institutions participating, tuition and fee 124 reductions granted to participating students, and requests the 125 office received for participation that could not be met because 126 all appropriated funds were otherwise committed. The office 127 shall also report any funds expended by institutions that were 128 not matched by the state. 129 Section 2. Authorization to grant scholarship funding tax 130 credits; limitations on individual and total credits.— 131 (1) Regardless of whether the state matches the private 132 sector contribution, a credit equal to 100 percent of an 133 eligible contribution made by a business in this state under the 134 Talent and Economic Advancement Matching Grant Program in the 135 Department of Education may be taken by the business against any 136 tax due from the business for a taxable year under chapter 220, 137 Florida Statutes. However, such credit may not exceed 75 percent 138 of the tax due under chapter 220, Florida Statutes, for the 139 taxable year after the application of any other allowable 140 credits by the taxpayer. The credit granted by this section 141 shall be reduced by the difference between the amount of federal 142 corporate income tax taking into account the credit granted by 143 this section and the amount of federal corporate income tax 144 without application of the credit granted by this section. 145 (2) A taxpayer who files a Florida consolidated return as a 146 member of an affiliated group pursuant to s. 220.131(1), Florida 147 Statutes, may take the credit on a consolidated return basis; 148 however, the total credit taken by the affiliated group is 149 subject to the limitation established under subsection (1). 150 (3) Effective for tax years beginning January 1, 2011, a 151 taxpayer may rescind all or part of its allocated tax credit 152 under this section. The amount rescinded shall become available 153 for purposes of the cap for that state fiscal year under this 154 section to an eligible taxpayer as approved by the Department of 155 Revenue if the taxpayer receives notice from the department that 156 the rescission has been accepted by the department and the 157 taxpayer has not previously rescinded any or all of its tax 158 credit allocation under this section more than once in the 159 previous 3 tax years. Any amount rescinded under this subsection 160 shall become available to an eligible taxpayer on a first-come, 161 first-served basis based on tax credit applications received 162 after the date the rescission is accepted by the department. 163 (4) A taxpayer who is eligible to receive the credit 164 provided for in s. 624.51055, Florida Statutes, is not eligible 165 to receive the credit provided by this section. 166 Section 3. This act shall take effect July 1, 2010.
