Florida Senate - 2013 SB 98 By Senator Richter 23-00167-13 201398__ 1 A bill to be entitled 2 An act relating to the New Markets Development 3 Program; amending s. 288.9914, F.S.; revising limits 4 on tax credits that may be claimed by qualified 5 community development entities under the program; 6 providing an effective date. 7 8 Be It Enacted by the Legislature of the State of Florida: 9 10 Section 1. Paragraph (c) of subsection (3) of section 11 288.9914, Florida Statutes, is amended to read: 12 288.9914 Certification of qualified investments; investment 13 issuance reporting.— 14 (3) REVIEW.— 15 (c) The department may not approve a cumulative amount of 16 qualified investments that may result in the claim of more than 17 $263.8
$163.8million in tax credits during the existence of the 18 program or more than $53.6 $33.6million in tax credits in a 19 single state fiscal year. However, the potential for a taxpayer 20 to carry forward an unused tax credit may not be considered in 21 calculating the annual limit. 22 Section 2. This act shall take effect July 1, 2013.