Senate Bill sb0116

    Florida Senate - 2003                                   SB 116

    By Senator Wise





    5-168-03

  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.

  8  

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

10  

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

12  220.183, Florida Statutes, is amended to read:

13         220.183  Community contribution tax credit.--

14         (1)  AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX

15  CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM

16  SPENDING.--

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

18  granted for all programs approved under this section, s.

19  212.08(5)(q), and s. 624.5105 is $20 $10 million annually.

20         Section 2.  Paragraph (c) of subsection (1) of section

21  624.5105, Florida Statutes, is amended to read:

22         624.5105  Community contribution tax credit;

23  authorization; limitations; eligibility and application

24  requirements; administration; definitions; expiration.--

25         (1)  AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--

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

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

28  220.183 is 20 $10 million annually.

29         Section 3.  This act shall take effect July 1, 2003.

30  

31  

                                  1

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






    Florida Senate - 2003                                   SB 116
    5-168-03




 1            *****************************************

 2                          SENATE SUMMARY

 3    Increases from $10 million to $20 million the annual
      limitation on the amount of community contribution tax
 4    credits which may be granted against the corporate income
      tax and insurance premium taxes.
 5  

 6  

 7  

 8  

 9  

10  

11  

12  

13  

14  

15  

16  

17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

                                  2

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