FL S7048

Extends the application deadline for qualified target industry businesses from June 30, 2010 to June 30, 2015, allowing more businesses to apply for tax refunds under the program.

Removes ad valorem taxes from the types of taxes eligible for refund and requires applicants to estimate the proportion of machinery, equipment, and resources to be purchased outside Florida.

Adds "return on investment" as an evaluation criterion, requiring the Office of Tourism, Trade, and Economic Development to assess state revenue gains relative to state investment in incentives.

Renames the "economic-stimulus exemption" to "economic recovery extension" and extends the deadline for businesses to request this extension from July 1, 2011 to July 1, 2012.

Authorizes waiver of annual proof-of-taxes requirements if a business demonstrates payment of state taxes equal to its total eligible refund amount, and mandates a post-agreement review of qualified businesses within 12 months after final refund requests with findings reported to state leadership.