FL S0990

Creates the "Florida Rural Community Jobs and Business Resiliency Act" establishing a rural growth fund program with up to $100 million in investment authority and $60 million in investor contributions capped statewide.

Requires rural growth fund applicants to hold licenses as rural business investment companies or small business investment companies, have invested at least $100 million in non-metropolitan counties, and submit a business plan with independent economic forecasting demonstrating positive state impact over 10 years.

Provides tax credits against state premium tax liability equal to investor contributions, usable as 20 percent per year over five years starting two years after the closing date, nonrefundable and not transferable except to affiliates.

Requires rural growth funds to invest 100 percent of investment authority within 2 years and maintain those investments through year 7, with revocation of tax credits for non-compliance; funds may exit the program after 7 years without future certificate revocation.

Mandates rural growth funds submit detailed reports on investments, job creation, and business locations, with the Department of Economic Opportunity notifying the Department of Revenue of allocated tax credits to insurance companies.