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Florida Administrative Code (Last Updated: April 18, 2024) |
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27. Executive Office of the Governor |
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27M. Office of Tourism, Trade and Economic Development |
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27M-5. Entertainment Industry Financial Incentive Program |
1(1) OTTED shall consider OFE’s recommendation and make a final determination of the actual maximum tax credits to certify, if available, to the Qualified Production. OTTED shall document its certification decision using the Certification Letter (form OTTED 1254-4 (12/10), which is hereby incorporated by reference), the original of which OFE shall send to each Certified Production, with a copy to the Department of Revenue.
65(2) Certification of tax credits is conditioned upon their availability pursuant to the fiscal year allocation specified in Section 84288.1254(7), F.S.
86(a) Certification of tax credits shall be tied to the fiscal year(s) in which the Certified Production is scheduled for completion. For example, a Certification Letter issued in one fiscal year may certify credits from a future fiscal year credit allocation.
127(b) If OTTED certifies a Production for credits during a fiscal year in which the amount of credits remaining for certification during that fiscal year is greater than the amount of credits certified to the Production, then the Certification Letter shall indicate certification of current year credits.
174(c) If OTTED certifies a Production for credits during a fiscal year in which the amount of credits remaining for certification during that fiscal year is less than the amount of credits certified to the Production, then the Certification Letter shall distinguish between certification of current fiscal year credits and certification of future fiscal year credits.
230(d) If OTTED certifies a Production for credits during a fiscal year in which all allocated credits have already been certified, but future fiscal year allocations remain available, then the Certification Letter shall indicate certification of future year credits. The Certification Letter shall specify the future fiscal year allocation to which it pertains.
283(e) If no credits are available in the present or future fiscal years, then the Certification Letter shall indicate that certification is conditional and dependent upon credits becoming available in the future.
315(f) If credits for a particular fiscal year become available in the future, either through non-award of previously certified credits or through legislative changes or otherwise, then OTTED shall distribute them on a first-come, first-served basis, based on the time the original Application was received, and in descending order of priority to Productions previously certified under paragraphs (c), (d), and (e). OFE shall document this later certification by a supplemental Certification Letter, the original of which OFE shall send to the Certified Production, with a copy to the Department of Revenue.
406(3) As an absolute condition precedent to award of credits, every Certified Production shall execute the Agreement (form OTTED 1254-1 (12/10), which is hereby incorporated by reference) before the first day of principal photography or project start date.
444(4) Certification decisions shall be subject to review under Chapter 120 of the Florida Statutes.
459Rulemaking Authority 461288.1254(8) FS. 463Law Implemented 465288.1254(3) 466FS. History–New 12-30-10.
