Florida Senate - 2025                                    SB 1244
       
       
        
       By Senator Calatayud
       
       
       
       
       
       38-00902-25                                           20251244__
    1                        A bill to be entitled                      
    2         An act relating to the research and development tax
    3         credit; amending s. 220.196, F.S.; increasing the
    4         total amount of tax credits that may be provided to
    5         business enterprises under the research and
    6         development tax credit; deleting an obsolete
    7         provision; providing applicability; providing an
    8         effective date.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Paragraph (e) of subsection (2) of section
   13  220.196, Florida Statutes, is amended to read:
   14         220.196 Research and development tax credit.—
   15         (2) TAX CREDIT.—
   16         (e) The combined total amount of tax credits which may be
   17  granted to all business enterprises under this section during
   18  any calendar year is $50 $9 million, except that the total
   19  amount that may be awarded in the 2018 calendar year is $16.5
   20  million. Applications may be filed with the department on or
   21  after March 20 and before March 27 for qualified research
   22  expenses incurred within the preceding calendar year. If the
   23  total credits for all applicants exceed the maximum amount
   24  allowed under this paragraph, the credits must shall be
   25  allocated on a prorated basis.
   26         Section 2. The amendment made by this act to s. 220.196,
   27  Florida Statutes, first applies to the 2026 allocation of tax
   28  credits for expenses incurred in calendar year 2025.
   29         Section 3. This act shall take effect July 1, 2025.