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: 14 220.196Research 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.