FL S1110

Eliminates the $7 million lifetime cap on tax refunds for qualified defense contractors and space flight businesses under the qualified defense contractor and space flight business tax refund program.

Removes the $7 million lifetime cap (or $7.5 million for enterprise zone projects) on tax refunds for qualified target industry businesses.

Expands the list of counties eligible for local financial support requirement reductions to include Holmes County, Jackson County, and Washington County.

Allows the department to fund reductions in local financial support requirements using the Economic Development Incentives Account within the Economic Development Trust Fund, capped at 90 percent of the annual tax refund for each qualified target industry business.

Takes effect July 1, 2012, with the county eligibility provision expiring June 30, 2014.