HB 299 - STEM Zone Programs Summary

• Department of Economic Opportunity shall create science, technology, engineering, and mathematics (STEM) economic development zones in counties with state universities classified as having very high research activity by the Carnegie Foundation for the Advancement of Teaching.

• STEM zone development agencies must be nonuniversity, not-for-profit 501(c)(3) corporations owning or operating at least 50 acres adjacent to a qualifying research institution, with minimum 150,000 annual public program attendance and 10,000 square feet of exhibit/conference space.

• All enterprise zone incentives and benefits become available to STEM zones, including sales tax exemptions, corporate tax credits, and up to $10 million in guaranteed loans through Enterprise Florida, Inc.; counties may waive impact fees for new STEM zone construction.

• Local governing bodies establish STEM zone boundaries by ordinance and cap annual state incentives at $300,000 per zone, with unused amounts carryable forward up to 5 years; businesses must receive certificates and meet accountability requirements including education partnerships and annual audits.

• STEM zone development boards must coordinate with workforce training programs, educational curriculum development, and implement accountability measures with measurable objectives for job creation and workforce qualification in science, technology, engineering, and mathematics fields.