FL S0868

Requires community redevelopment agencies in counties to expend at least 5 percent of annual trust fund revenues to support year-round youth centers if more than 50 percent of minors in the redevelopment area live in families below federal poverty level.

Defines "youth center" as a facility operated by a governmental entity or nonprofit that provides supplemental educational programs, recreational activities, counseling, and social services to children ages 5-18 and young adults ages 18-24, with a requirement of minimum 225 service days per year and at least 2 years of prior operation.

Expands definition of "community contribution" for tax credit purposes to include 100 percent ownership of a real property holding company that meets specific requirements: wholly owned by the business firm, sole owner of Florida real property, disregarded as an entity for federal tax purposes, and holds no material assets other than qualifying property.

Applies the real property holding company definition consistently across income tax credits (s. 220.03), sales and use tax credits (s. 212.08), and premium tax credits (s. 624.5105).

Maintains existing tax credit caps of $18.4 million in fiscal year 2015-2016 and $21.4 million in fiscal years 2016-2017 and 2017-2018 for housing projects, plus $3.5 million annually for all other projects, with a June 30, 2018 expiration date.