Senate Bill 0290

    Florida Senate - 1999                                   SB 290

    By Senator Horne





    6-428-99

  1                      A bill to be entitled

  2         An act relating to community contribution tax

  3         credits; amending ss. 220.183, 624.5105, F.S.;

  4         increasing the annual limitation on the amount

  5         of such credits which may be granted against

  6         the corporate income tax and insurance premium

  7         taxes; providing an effective date.

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  9  Be It Enacted by the Legislature of the State of Florida:

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11         Section 1.  Paragraph (c) of subsection (3) of section

12  220.183, Florida Statutes, 1998 Supplement, is amended to

13  read:

14         220.183  Community contribution tax credit.--

15         (3)  AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX

16  CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM

17  SPENDING.--

18         (c)  The total amount of tax credit which may be

19  granted for all programs approved under this section and s.

20  624.5105 is $10 $5 million annually.

21         Section 2.  Paragraph (c) of subsection (3) of section

22  624.5105, Florida Statutes, 1998 Supplement, is amended to

23  read:

24         624.5105  Community contribution tax credit;

25  legislative findings; policy and purpose; authorization;

26  limitations; eligibility and application requirements;

27  administration; definitions; expiration.--

28         (3)  AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--

29         (c)  The total amount of tax credit which may be

30  granted for all programs approved under this section and s.

31  220.183 is $10 $5 million annually.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1999                                   SB 290
    6-428-99




  1         Section 3.  This act shall take effect July 1, 1999.

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  4                          SENATE SUMMARY

  5    Increases the annual limitation on the total amount of
      community contribution tax credits which may be granted
  6    against the corporate income tax and insurance premium
      taxes from $5 million to $10 million.
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