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FL S0258
Bill
Status
Failed
4/30/2021
Primary Sponsor
Finance and Tax
Click for details
AI Summary
- Creates the "Florida Internship Tax Credit Program" providing a $2,000 corporate income tax credit per student intern for qualified businesses, effective for taxable years beginning on or after January 1, 2022
- Limits the total tax credit a qualified business may claim to $10,000 per taxable year, with unused credits eligible to be carried forward for up to 2 taxable years
- Requires student interns to have completed at least 60 credit hours at a state university or Florida College System institution, be enrolled in a career/charter technical career center, or be a graduate student, maintaining a minimum 2.0 GPA
- Requires qualifying businesses to have operated continuously for at least 3 years and demonstrate that at least 20% of full-time employees were previously student interns at the business; businesses with 10 or fewer employees need only show they hired at least one former intern full-time
- Interns must work full time (at least 30 hours per week) in Florida for at least 9 consecutive weeks, and the Department of Revenue is authorized to adopt emergency rules to administer the program
Legislative Description
Internship Tax Credit Program
Last Action
Died in Appropriations, companion bill(s) passed, see HB 7061 (Ch. 2021-31)
4/30/2021
Committee Referrals
Appropriations3/15/2021
Finance and Tax2/17/2021
Education12/21/2020
Full Bill Text
No bill text available