Bill > H0847

This bill modifies the Research and Development (R&D) Tax Credit program in Florida by increasing the total amount of tax credits that can be granted to businesses in a calendar year from $9 million to $50 million. The bill removes specific language about the 2018 calendar year credit limit and maintains the existing application process, which allows businesses to file applications between March 20 and March 27 for qualified research expenses incurred in the previous calendar year. If the total credits requested by applicants exceed the maximum allowed amount, the credits will be allocated proportionally. The changes will first apply to the 2027 tax credit allocation for expenses incurred in calendar year 2026, and the bill will take effect on July 1, 2026. By increasing the available tax credits, the bill aims to incentivize businesses to invest in research and development activities in the state of Florida.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2026/847