FL S1150

Increases cumulative tax credit limit from $97.5 million to $195 million during the existence of the New Markets Development Program.

Increases annual tax credit limit from $20 million to $40 million in a single state fiscal year.

Allows qualified community development entities to make cash interest payments on long-term debt securities that are qualified investments, up to the entity's cumulative operating income, for the first 7 years after issuance.

Specifies that interest expense on the security is disregarded when calculating operating income for purposes of determining permissible cash interest payments.

Takes effect July 1, 2012.