Bill > H0891

This bill amends Florida Statute 220.196 to increase the total amount of research and development (R&D) tax credits available to businesses from $9 million to $20 million annually. These R&D tax credits are designed to incentivize businesses that incur qualified research expenses in Florida and also claim a federal research credit under 26 U.S.C. s. 41. The bill also adjusts the application period for these credits, allowing businesses to apply between March 20th and March 27th for expenses incurred in the previous calendar year, and if the total requested credits exceed the $20 million cap, they will be allocated proportionally among applicants.