FL H0165

Creates a corporate tax credit equal to 10 percent of payments made by corporations with 300+ employees to small businesses (25 or fewer employees) under a written contract.

Requires the corporation to pay at least $100,000 to the small business within 1 year and the small business to hire at least 2 new employees within 60 days of contract signing.

Corporations and small businesses must submit an application to the Department of Economic Opportunity within 90 days of signing the contract; department must provisionally certify complete applications within 10 working days.

Tax credits cannot be carried forward or backward, transferred, or sold; fraudulent claims are a second-degree misdemeanor with mandatory repayment of 100 percent penalty plus interest.

Effective July 1, 2014; amends tax credit application order in Florida Statutes to include this new credit.