FL H0153

Creates a new corporate tax credit equal to 10 percent of payments made to a small business (25 or fewer employees) under a written contract, available to corporations with 300 or more employees in Florida.

Requires the contract to include a minimum $100,000 payment to the small business within 1 year and the small business must hire at least two new employees within 60 days of contract signing.

Establishes a Department of Economic Opportunity application and certification process, requiring both parties to submit documentation within 90 days of contract signing, including employee information and evidence of job creation.

Prohibits tax credits from being carried forward or backward, transferred, or sold; imposes criminal penalties (second-degree misdemeanor) and administrative penalties (100 percent of credit plus interest) for fraudulent claims.

Takes effect January 1, 2014.