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FL S0508

Bill

Official Source

Status

Failed

3/11/2016

Primary Sponsor

Jeffrey Brandes

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Increases the total annual research and development tax credit cap from $9 million to $23 million for all business enterprises in Florida
  • Removes the temporary $23 million cap that was set only for the 2016 calendar year, making $23 million the permanent annual limit
  • Maintains the application filing period of March 20-27 for qualified research expenses incurred in the preceding calendar year
  • Allocates credits on a prorated basis if total applications exceed the maximum annual amount allowed
  • Takes effect July 1, 2016

Legislative Description

Research and Development Tax Credit

Last Action

Died in Commerce and Tourism

3/11/2016

Committee Referrals

Commerce And Tourism10/21/2015

Full Bill Text

No bill text available