Legislative Session number- 83

Bill Name: SF1067

Authorizing and providing for the designation of biotechnology and +health
sciences industry tax free zones by the commissioner of trade and +economic
development (DTED); defining certain terms; specifying certain +applicant
development plan development and content requirements; limiting the +size and
duration of the zones and authorizing subzones; specifying certain +designation
application content requirements, authorizing application by local +government
units or joint powers boards; providing for commissioner designation +of the
zones in consultation with the commissioner of revenue and the +director of the
office of strategic and long range planning, specifying certain +success
indicators for consideration by the commissioner for designation +purposes and
providing a designation schedule; providing individual income and +corporate
franchise tax exemptions for qualified businesses and investments in +qualified
businesses operating in the zones, requiring and providing for +repayment under
certain termination conditions; specifying certain reporting +requirements of
applicants receiving designation on progress in meeting the zone +performance
goals under the development plan, authorizing certain commissioner +actions for
failure to meet the goals; exempting improvements to real or personal+ property
in the zones from the property tax and providing sales and motor +vehicle sales
tax exemptions for certain purchases (ra)