Session Year 2003, Special Session 1

Bill Name: SF0041

Providing for the designation of job opportunity building zones by +the
commissioner of trade and economic development; exempting real +property
improvements and tangible personal property of qualified businesses +located in
the zones from ad valorem property taxes, exceptions; exempting +electricity
produced by wind energy conversion systems located in job opportunity+ building
zones from the wind energy production tax for the duration of the +zone;
providing certain income, corporate franchise, sales and use and +motor vehicle
sales tax incentives for operating or investing in businesses located+ in job
opportunity building zones; defining certain terms relating to +establishment of
the zones; requiring applicants for designation to adopt a written +development
plan for the zone before submitting an application to the +commissioner,
specifying certain minimum development plan content requirements; +placing
certain limits on the zones, specifying a maximum size and duration, authorizing
subzones, requiring location outside the metropolitan +area, prohibiting the
inclusion of border city development zones in the job opportunity building zone
area, authorizing inclusion of agricultural processing facility zones;
specifying application content +requirements; requiring the commissioner in
consultation with the commissioner of +revenue designate a limited number of job
opportunity building zones, +authorizing additional designations in consultation
with the commissioners of +agriculture and revenue of a certain number of
agricultural processing facility +zones, specifying certain need indicator
consideration requirements and +providing for the determination of success of a
proposed zone in designating the +zones; prescribing a designation schedule and
requiring geographic +distribution; exempting commissioner from certain
rulemaking requirements; +requiring and providing for repayment of tax benefits
under certain conditions, +authorizing waiver by the commissioner of revenue;
requiring annual reports on +progress in meeting zone performance goals to the
DTED commissioner by zone +designation recipients and granting the commissioner
certain remedy authority for+ zones failing to meet the goals; providing for job
opportunity building +zone aid to cities and counties for the property tax
exemption, specifying +certain duties of county assessors and the commissioner
of revenue; appropriating +money to the commissioner of revenue for payment of
the aid and to the +commissioner of trade and economic development for certain
designation and administration +costs (ra)