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. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 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: 16 201.25Tax 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: 23 220.196Research 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.