FL S1156

Deletes the definition of "income generated by or arising out of the qualifying project" and revises the definition of "qualifying project" to include five categories of facilities, including two new categories for target industry businesses and existing facilities making capital investments of at least $25 million.

Reduces the required annual wage threshold from 130 percent to 115 percent of the average private sector wage for target industry businesses creating at least 100 new jobs with a $100 million capital investment.

Adds a new category allowing existing facilities within target business industries to qualify for tax credits by making a cumulative capital investment of at least $25 million.

Removes the restriction prohibiting affiliated companies or related entities from increasing the credit amount or extending the usage period, allowing greater flexibility in credit utilization.

Establishes a $50 million annual cap on total capital investment tax credits issued and requires the Department of Economic Opportunity to certify businesses meet requirements before the Department of Revenue issues credits.