FL S1866

Repeals section 288.1045(2)(c), F.S., which limited the maximum amount that qualified defense contractors in the space flight business could receive from the Economic Development Trust Fund across all fiscal years.

Removes the lifetime cap on tax refund payments for qualified target industry businesses, which previously limited them to $5 million total across all fiscal years or $7.5 million if located in an enterprise zone.

Maintains the existing annual limits on refund payments: $1.5 million per fiscal year for qualified target industry businesses, or $2.5 million per fiscal year if the project is located in an enterprise zone.

Takes effect July 1, 2011.