Legislative Session number- 83

Bill Name: SF0496

E 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, +authorizing
later inclusion of area upon commissioner approval; 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 and mineral 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 and mineral 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; 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 (je,
ja)