Florida Senate - 2022                              CS for SB 952
       By the Committee on Military and Veterans Affairs, Space, and
       Domestic Security; and Senator Gruters
       583-02296-22                                           2022952c1
    1                        A bill to be entitled                      
    2         An act relating to taxation; amending s. 201.25, F.S.;
    3         exempting federal loans related to a state of
    4         emergency from the excise tax imposed on documents;
    5         amending s. 220.196, F.S.; increasing the combined
    6         total amount of credits which may be granted to
    7         business enterprises during any calendar year;
    8         deleting obsolete language; providing applicability;
    9         providing an effective date.
   11  Be It Enacted by the Legislature of the State of Florida:
   13         Section 1. Present subsection (2) of section 201.25,
   14  Florida Statutes, is redesignated as subsection (3), and a new
   15  subsection (2) is added to that section, to read:
   16         201.25 Tax exemptions for certain loans.—There shall be
   17  exempt from all taxes imposed by this chapter:
   18         (2) Any federal loans that are related to a state of
   19  emergency declared by executive order or proclamation of the
   20  Governor pursuant to s. 252.36.
   21         Section 2. Paragraph (e) of subsection (2) of section
   22  220.196, Florida Statutes, is amended to read:
   23         220.196 Research and development tax credit.—
   24         (2) TAX CREDIT.—
   25         (e) The combined total amount of tax credits which may be
   26  granted to all business enterprises under this section during
   27  any calendar year is $50 $9 million, except that the total
   28  amount that may be awarded in the 2018 calendar year is $16.5
   29  million. Applications may be filed with the department on or
   30  after March 20 and before March 27 for qualified research
   31  expenses incurred within the preceding calendar year. If the
   32  total credits for all applicants exceed the maximum amount
   33  allowed under this paragraph, the credits shall be allocated on
   34  a prorated basis.
   35         Section 3. The amendment made by this act to s. 220.196,
   36  Florida Statutes, first applies to the 2022 allocation of tax
   37  credits for expenses incurred in calendar year 2021.
   38         Section 4. This act shall take effect upon becoming a law.