FL S1076

Increases the annual cap on research and development tax credits available to all business enterprises from $9 million to $50 million per calendar year

Removes the obsolete provision that set a one-time $16.5 million cap for the 2018 calendar year

Applications for the tax credit must be filed with the department between March 20 and March 27 for qualified research expenses incurred in the preceding calendar year

Credits will be prorated among all applicants if total applications exceed the annual cap

Changes first apply to the 2027 allocation of tax credits for expenses incurred in calendar year 2026, with an effective date of July 1, 2026