Florida Small Manufacturing Business Recovery Act (CS for SB 1444)

• Creates s. 288.715, F.S., establishing a tax credit program for investments in small manufacturing businesses through certified relief funds, with a maximum of $100 million in relief investment authority and $80 million in relief contributions.

• Requires the Department of Economic Opportunity to approve or deny relief fund applications within 30 days, with applicants needing to be federally approved rural business investment companies or small business investment companies with at least $500 million in previous small business investments.

• Authorizes nonrefundable tax credits against premium taxes that are transferable and allocated in five equal annual installments on the closing date anniversaries of 2023-2027, equal to one-fifth of each investor's relief contribution.

• Mandates relief funds invest at least 70 percent of their relief investment authority within 1 year and 100 percent within 2 years of closing, with tax credit revocation for non-compliance or excessive distributions exceeding cumulative investment earnings.

• Permits relief funds to apply for decertification on or after the sixth anniversary of closing if they have fully invested their relief investment authority, with the department unable to revoke tax credits for actions occurring after decertification.