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| 3 | 3 | | HB 1293 2022 |
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| 7 | 7 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 8 | 8 | | hb1293-00 |
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| 9 | 9 | | Page 1 of 2 |
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| 10 | 10 | | F L O R I D A H O U S E O F R E P R E S E N T A T I V E S |
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| 14 | 14 | | A bill to be entitled 1 |
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| 15 | 15 | | An act relating to tax exemptions and tax credits; 2 |
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| 16 | 16 | | amending s. 201.25, F.S.; exempting certain federal 3 |
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| 17 | 17 | | loans from documentary stamp taxes; amending s. 4 |
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| 18 | 18 | | 220.196, F.S.; revising upward the amount of money 5 |
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| 19 | 19 | | available for research and development tax credits; 6 |
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| 20 | 20 | | providing applicability; providing an effective date. 7 |
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| 21 | 21 | | 8 |
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| 22 | 22 | | Be It Enacted by the Legislature of the State of Florida: 9 |
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| 23 | 23 | | 10 |
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| 24 | 24 | | Section 1. Subsection (2) of section 201 .25, Florida 11 |
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| 25 | 25 | | Statutes, is renumbered as subsection (3), and a new subsection 12 |
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| 26 | 26 | | (2) is added to that section to read: 13 |
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| 27 | 27 | | 201.25 Tax exemptions for certain loans. —There shall be 14 |
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| 28 | 28 | | exempt from all taxes imposed by this chapter: 15 |
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| 29 | 29 | | (2) Any federal loan that is relat ed to a state of 16 |
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| 30 | 30 | | emergency declared by executive order or proclamation of the 17 |
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| 31 | 31 | | Governor pursuant to s. 252.36. 18 |
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| 32 | 32 | | Section 2. Paragraph (e) of subsection (2) of section 19 |
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| 33 | 33 | | 220.196, Florida Statutes, is amended to read: 20 |
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| 34 | 34 | | 220.196 Research and development tax cr edit.— 21 |
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| 35 | 35 | | (2) TAX CREDIT.— 22 |
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| 36 | 36 | | (e) The combined total amount of tax credits which may be 23 |
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| 37 | 37 | | granted to all business enterprises under this section during 24 |
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| 38 | 38 | | any calendar year is $50 $9 million, except that the total 25 |
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| 39 | 39 | | |
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| 40 | 40 | | HB 1293 2022 |
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| 44 | 44 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 45 | 45 | | hb1293-00 |
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| 46 | 46 | | Page 2 of 2 |
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| 47 | 47 | | F L O R I D A H O U S E O F R E P R E S E N T A T I V E S |
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| 50 | 50 | | |
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| 51 | 51 | | amount that may be awarded in the 2018 calendar y ear is $16.5 26 |
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| 52 | 52 | | million. Applications may be filed with the department on or 27 |
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| 53 | 53 | | after March 20 and before March 27 for qualified research 28 |
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| 54 | 54 | | expenses incurred within the preceding calendar year. If the 29 |
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| 55 | 55 | | total credits for all applicants exceed the maximum amount 30 |
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| 56 | 56 | | allowed under this paragraph, the credits shall be allocated on 31 |
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| 57 | 57 | | a prorated basis. 32 |
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| 58 | 58 | | Section 3. The amendment made by this act to s. 220.196, 33 |
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| 59 | 59 | | Florida Statutes, first applies to the 2022 allocation of tax 34 |
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| 60 | 60 | | credits for expenses incurred in the 2021 calendar year . 35 |
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| 61 | 61 | | Section 4. This act shall take effect July 1, 2022. 36 |
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