HB 1415 Summary: Florida Rural Community Jobs and Business Resiliency Act

• Creates a rural growth fund program allowing the Department of Economic Opportunity to certify entities investing in rural businesses (counties with populations of 75,000 or fewer) in agribusiness, manufacturing, plant sciences, services, and technology sectors.

• Limits total program investment authority to $200 million and investor contributions to no more than 3.75 percent of total investment authority in taxable years three through seven after the closing date.

• Provides a state premium tax credit equal to investor contributions, usable at 20 percent per year for five years beginning the second anniversary of the closing date, nonrefundable and not transferable except to affiliates.

• Requires rural growth funds to invest 100 percent of their investment authority within two years and maintain those investments until the seventh anniversary; failure triggers certification lapse and revocation of tax credits.

• Establishes reporting requirements including a report by the second anniversary of closing date documenting investments and employment positions created or retained, followed by annual reports through the compliance period.