FL H1071

Exempts industrial machinery and equipment purchased for exclusive use in spaceport activities or manufacturing/processing operations from sales tax for new businesses and expanding facilities that increase productive output by at least 10 percent

Requires businesses to apply for temporary tax exemption permits before purchase, with machines delivered within 12 months of business startup; non-compliant businesses must repay exempted taxes plus interest and penalties

Excludes electric utility companies, communications companies, oil/gas exploration operations, and publishing firms that don't export 50 percent of products from the exemption

Modifies federal procurement contract exemption to allow refunds of previously paid taxes for expanding businesses manufacturing tangible property with at least 10 percent implicit productive output increase

Takes effect upon becoming law