FL S0900

Establishes the Restaurant and Hotel Renovation Tax Refund Program allowing eligible businesses to receive refunds of sales taxes paid on qualifying renovation projects.

Requires hotels to spend at least $2 million on renovations (minimum $10,000 per guest room) and restaurants to spend at least $100,000 (minimum $10,000 on kitchen areas) to qualify for the program.

Refund amounts cannot exceed 50 percent of incremental sales tax revenue increases, with aggregate refunds capped at 20 percent of total approved project costs.

Department of Economic Opportunity must review and approve applications within 60 days; Department of Revenue remits approved refunds within 30 days of certification.

Program takes effect July 1, 2015.