FL H0861

Creates the "Florida Internship Tax Credit Program" allowing qualified businesses to receive corporate income tax credits of up to $2,000 per degree-seeking student hired after completing an internship, effective for taxable years beginning January 1, 2017.

Establishes eligibility requirements including student full-time work for at least 9 consecutive weeks during internship, minimum 2.0 grade point average, and business employment of at least 20 percent of previously interned degree-seeking students on a full-time basis in the current tax year.

Provides alternative criteria for small businesses averaging 10 or fewer full-time employees over the prior 3 years, requiring documentation of hiring at least one previous intern on a full-time basis in the current tax year.

Caps annual tax credit claims at $10,000 per qualified business for previously paid corporate income taxes and allows unused credits to be carried forward for up to 2 years.

Authorizes the Department of Revenue to adopt rules governing application procedures and establishing qualification requirements for the tax credit program.