FL S0426

Creates a 20 percent corporate income tax credit for businesses selling nutrient-dense foods in designated food desert zones, capped at the business's total state tax liability.

Eligible businesses must have annual gross sales under $15 million, derive at least 20 percent of gross receipts from nutrient-dense food sales, purchase at least 15 percent of inventory from in-state companies, and operate in a food desert zone after July 1, 2014.

Defines food desert zones as census tracts with poverty rates of 20 percent or greater (or median family income at or below 80 percent of state median) where at least 500 persons or 33 percent of the population live more than 1 mile (urban) or 10 miles (rural) from a supermarket.

Unused credits may be carried forward for up to 2 years, and fraudulent claims are punishable as second-degree misdemeanors with mandatory repayment of 100 percent of the fraudulently claimed credit plus interest.

Requires the Department of Revenue and Department of Agriculture and Consumer Services to review the credit after 3 taxable years and make recommendations to the Legislature regarding its continuation.