FL H0891

Increases the combined total amount of research and development tax credits available statewide from $9 million to $20 million per calendar year

Changes the application filing period to March 20 through March 27 for qualified research expenses incurred in the preceding calendar year

Modifies credit allocation method from first-come, first-served basis to prorated allocation when total applications exceed $20 million

Tax credit remains at 10 percent of excess qualified research expenses over the base amount, with existing limitations on new businesses and carryforward provisions retained

Effective date: July 1, 2015