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A bill to be entitled |
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An act relating to community contribution tax credits; |
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amending ss. 220.183, 624.5105, F.S.; increasing the |
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annual limitation on the amount of such credits which may |
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be granted against the corporate income tax and insurance |
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premium taxes; providing an effective date. |
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Be It Enacted by the Legislature of the State of Florida: |
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Section 1. Paragraph (c) of subsection (1) of section |
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220.183, Florida Statutes, is amended to read |
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220.183 Community contribution tax credit.-- |
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(1) AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX |
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CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM |
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SPENDING.-- |
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(c) The total amount of tax credit which may be granted |
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for all programs approved under this section, s. 212.08(5)(q), |
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and s. 624.5105 is$20$10million annually. |
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Section 2. Paragraph (c) of subsection (1) of section |
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624.5105, Florida Statutes, is amended to read: |
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624.5105 Community contribution tax credit; authorization; |
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limitations; eligibility and application requirements; |
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administration; definitions; expiration.-- |
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(1) AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.-- |
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(c) The total amount of tax credit which may be granted |
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for all programs approved under this section and s. 220.183 is |
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$20$10million annually. |
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Section 3. This act shall take effect July 1, 2003. |
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