FL S1246

Allows passenger car rental companies (SIC code 4724) and travel agencies (SIC code 7514) with unused capital investment tax credits from taxable year 2020 to use up to 50 percent of those credits in the 2021 tax year if gross receipts between April 1-December 31, 2020 were 50 percent less than the same period in 2019

Permits qualifying businesses to transfer unused tax credits to other businesses subject to corporate income tax, with transferred credits usable only in the year received

Allows qualifying businesses to apply unused tax credits against sales and use tax amounts owed to the Department of Revenue under chapter 212

Permits qualifying businesses to apply unused tax credits against corporate income tax payments for any combination of taxable years beginning after January 1, 2021 and ending before December 31, 2025

Authorizes the Department of Revenue to adopt emergency rules to administer the act, effective for 6 months after adoption with possible renewal, and expires July 1, 2023