Bill > S1324

This bill amends the Florida Rural Investments Act by modifying the application requirements for rural funds seeking to have an equity investment certified as a capital investment eligible for tax credits. Specifically, the bill adds a new requirement that applicants must submit a nonrefundable $5,000 application fee to the Department of Commerce when applying for certification. The existing application requirements remain largely unchanged, which include providing details about the capital investment amount (with a $10 million maximum per eligible business), submitting licenses as a rural or small business investment company, demonstrating prior investments of at least $100 million in nonpublic companies in counties with populations under 75,000, and providing a comprehensive business plan with a revenue impact assessment prepared by an independent economic forecasting firm. The bill's effective date is contingent upon the passage of related legislation (SB 1322) in the same legislative session, ensuring that the new application fee requirement is implemented alongside other potential changes to the rural investment program.

https://www.flsenate.gov/Session/Bill/2025/1324