Florida Senate - 2021                                     SB 258
       By Senator Jones
       35-00585-21                                            2021258__
    1                        A bill to be entitled                      
    2         An act relating to an internship tax credit program;
    3         creating s. 220.198, F.S.; providing a short title;
    4         defining terms; providing a corporate income tax
    5         credit for qualified businesses employing degree
    6         seeking student interns if certain criteria are met;
    7         specifying the amount of the credit a qualified
    8         business may claim per student intern; specifying a
    9         limit on the credit claimed per taxable year;
   10         authorizing the Department of Revenue to adopt certain
   11         rules; authorizing a qualified business to carry
   12         forward unused credit for a certain time; providing an
   13         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  junior or 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 30 hours per week.
   30         (c)“Qualified business” means a business that is in
   31  existence and has been continuously operating for at least 3
   32  years.
   33         (3)For taxable years beginning on or after January 1,
   34  2022, a qualified business may receive a tax credit for
   35  previously paid corporate income taxes imposed under this
   36  chapter in the amount of $2,000 per student intern if:
   37         (a)The qualified business employed a degree-seeking
   38  student in an internship in which the student worked full time
   39  for at least 9 consecutive weeks;
   40         (b)The qualified business provides documentation for the
   41  current taxable year to show that at least 20 percent of the
   42  business’s full-time employees were previously employed by that
   43  business as degree-seeking student interns;
   44         (c)A degree-seeking student intern working for a qualified
   45  business had a minimum grade point average of 2.0 at the start
   46  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 3 prior years on average, employed 10 or fewer
   54  full-time employees may receive the tax credit if it provides
   55  documentation that it previously hired at least one degree
   56  seeking student intern and, for the current taxable year, that
   57  it employs on a full-time basis at least one employee who was
   58  previously employed by that qualified business as a degree
   59  seeking student intern.
   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 qualified business awarded a tax credit for
   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, 2021.