FL H0653

Extends the expiration date of the community contribution tax credit program from June 30, 2015 to June 30, 2025 for sales and use tax, corporate income tax, and insurance premium tax credits.

Allows registered tax collectors making donations to eligible sponsors to receive tax credits equal to 50 percent of approved annual community contributions, with a maximum annual credit of $200,000 per person.

Allocates $10.5 million annually in total tax credits for projects providing homeownership opportunities for low-income and very-low-income households, and $3.5 million annually for all other approved community projects.

Requires all community contributions to be used exclusively for eligible projects such as affordable housing construction, commercial/industrial development, or job opportunities, with projects approved by the Department of Economic Opportunity and located in enterprise zones or Front Porch Florida Communities.

Permits unused annual tax credits to be carried over and applied for up to 3 years, and allows accrued carryover credits remaining after the June 30, 2025 expiration to be used through the end of their 3-year carryover period.