Bill > S0236

This bill, concerning tax refund programs in Florida, proposes to remove existing limits on the total amount of tax refunds that qualified businesses can receive. Specifically, it amends Section 288.1045 of Florida Statutes, which established a tax refund program for qualified defense contractors and space flight businesses, by deleting a provision that capped their total refunds at $7 million across all fiscal years. Additionally, it amends Section 288.106, which provides tax refunds for qualified target industry businesses (businesses in specific high-growth sectors), by removing the overall cap of $7 million (or $7.5 million for projects in enterprise zones) that these businesses could receive in refunds over all fiscal years, while retaining annual limits and the higher limit for enterprise zone projects. The bill is set to take effect on July 1, 2013.