FL S0846

Creates the "Florida Internship Tax Credit Program" allowing qualified businesses to claim a corporate income tax credit of up to $2,000 per degree-seeking student hired after completing an internship, effective for taxable years beginning January 1, 2018.

Requires degree-seeking students to be seniors at state universities, Florida College System institutions, career centers, charter technical career centers, or graduate students at state universities, and to have worked full-time for at least 9 consecutive weeks during their internship.

Mandates qualified businesses (operating for at least 3 years) must employ at least 20 percent of their former interns on a full-time basis in the current tax year, or at least one former intern if the business averaged 10 or fewer full-time employees over the prior 3 years.

Limits qualified businesses to a maximum tax credit of $10,000 per tax year and allows unused credits to be carried forward for up to 2 years.

Requires students to have a minimum 2.0 grade point average at internship start and authorizes the Department of Revenue to adopt rules governing applications and qualification requirements.