Florida Senate - 2019                                     SB 840
       By Senator Powell
       30-00897-19                                            2019840__
    1                        A bill to be entitled                      
    2         An act relating to the internship tax credit program;
    3         creating s. 220.198, F.S.; providing a short title;
    4         providing definitions; providing a corporate income
    5         tax credit up to a specified amount for a qualified
    6         business that hires employees who have completed
    7         specified internships; providing eligibility criteria;
    8         limiting the amount of the tax credit which a
    9         qualified business may claim; authorizing the
   10         Department of Revenue to adopt rules governing
   11         applications and establishing qualification
   12         requirements; authorizing a business to carry forward
   13         the tax credit for a specified period; providing an
   14         effective date.
   16  Be It Enacted by the Legislature of the State of Florida:
   18         Section 1. Section 220.198, Florida Statutes, is created to
   19  read:
   20         220.198Internship tax credit program.—
   21         (1)This section may be cited as the “Florida Internship
   22  Tax Credit Program.”
   23         (2)As used in this section, the term:
   24         (a)“Degree-seeking student intern” means a person who is a
   25  senior at a state university, a Florida College System
   26  institution, a career center operated by a school district under
   27  s. 1001.44, or a charter technical career center, or any
   28  graduate student enrolled at a state university.
   29         (b)“Full-time” means at least 40 hours per week.
   30         (c)“Qualified business” means a business that is in
   31  existence and that has been continuously operating for at least
   32  3 years.
   33         (3)For taxable years beginning on or after January 1,
   34  2020, a qualified business shall be allowed a tax credit for
   35  previously paid corporate income taxes imposed under this
   36  chapter equal to the lesser of $2,000 or the amount of wages
   37  paid by the qualified business to a degree-seeking student
   38  intern during the student’s internship, if:
   39         (a)During the degree-seeking student’s internship, the
   40  student worked full-time for at least 9 consecutive weeks;
   41         (b)The qualified business provides documentation for the
   42  current taxable year to show that at least 20 percent of the
   43  business’s full-time employees were previously employed as
   44  degree-seeking interns by that qualified business;
   45         (c)The degree-seeking student intern had a minimum grade
   46  point average of 2.0 at the start of the internship; and
   47         (d)The state university, Florida College System
   48  institution, career center operated by a school district under
   49  s. 1001.44, or charter technical career center has provided
   50  documentation attesting to the degree-seeking student intern’s
   51  enrollment status.
   52         (4)Notwithstanding paragraph (3)(b), a qualified business
   53  that, for the prior 3 years on average, employed 10 full-time
   54  employees or fewer shall be allowed the tax credit if it
   55  provides documentation that it previously hired at least one
   56  degree-seeking student intern, and, for the current taxable
   57  year, it employs on a full-time basis at least one employee who
   58  was previously employed as a degree-seeking student intern by
   59  that qualified business.
   60         (5)A qualified business may not claim a tax credit of more
   61  than $10,000 for previously paid corporate income taxes in any
   62  one taxable year.
   63         (6)The department may adopt rules governing the manner and
   64  form of applications for the tax credit and establishing
   65  qualification requirements for the tax credit.
   66         (7)A qualifying business awarded a tax credit of
   67  previously paid corporate income taxes under this section may
   68  carry forward any unused portion of a tax credit for up to 2
   69  taxable years.
   70         Section 2. This act shall take effect July 1, 2019.