Bill > H5601

This bill makes several changes to Florida law related to economic development and taxation. It extends the dedication of certain cigarette tax collections for biomedical research activities and grant opportunities with Sanford-Burnham Medical Research Institute until June 30, 2033, with an annual cap of $3 million. The bill also lowers the maximum takeoff weight threshold for rotary wing aircraft to qualify for certain tax exemptions on repair and maintenance labor and parts, now including aircraft over 2,000 pounds maximum certified takeoff weight. It revises how money is distributed to applicants for spring training franchise facilities, allowing for monthly distributions of up to $55,555 for facilities used by a single franchise or $111,110 for facilities used by multiple franchises, with specific time limits and expenditure requirements. Additionally, the bill removes caps on tax refunds for qualified defense contractors, space flight businesses, and qualified target industry businesses, and establishes a certification process to retain spring training baseball franchises, including requirements for local funding commitments and franchise agreements, with provisions for decertification and audits. The bill also increases the limits on qualified investments approved by the Department of Economic Opportunity (DEO) under the New Markets Development Program and creates a sales tax holiday from August 2-4, 2013, exempting clothing, wallets, bags, school supplies, and personal computers and accessories below certain price thresholds, with exceptions for theme parks, lodging establishments, and airports. Finally, it includes an appropriation for the Department of Revenue to administer these changes and specifies effective dates.