FL S0302

Extends the Community Contribution Tax Credit Program expiration date from June 30, 2016 to June 30, 2025, applying to tax credits against sales and use tax, corporate income tax, and insurance premium tax

Maintains existing annual tax credit caps of $18.4 million for projects providing homeownership opportunities for low-income or very-low-income households and $3.5 million for all other projects

Tax credits equal 50% of approved community contributions made to eligible sponsors for housing, commercial, industrial, or public facility projects in enterprise zones or Front Porch Florida Communities

Individual taxpayers limited to maximum $200,000 in annual tax credits; unused credits may carry forward for up to 3 years

Eligible sponsors include community action programs, nonprofit housing organizations, local housing authorities, community redevelopment agencies, regional workforce boards, and units of local or state government