FL S0642

Creates a corporate income tax credit of $2,000 per degree-seeking student intern for qualified businesses, effective for taxable years beginning January 1, 2021.

Requires student interns to work full-time (at least 40 hours per week) for at least 9 consecutive weeks and maintain a minimum 2.0 grade point average.

Eligible students include seniors at state universities, Florida College System institutions, career centers, charter technical career centers, or graduate students at state universities.

Limits the tax credit to $10,000 per qualified business per taxable year and allows unused credits to be carried forward for up to 2 taxable years.

Requires businesses to demonstrate that at least 20 percent of their full-time employees were previously hired as interns, or for small businesses (10 or fewer employees), at least 1 current employee was previously an intern.