Florida Senate - 2020                                    SB 1412
       
       
        
       By Senator Powell
       
       
       
       
       
       30-01464-20                                           20201412__
    1                        A bill to be entitled                      
    2         An act relating to an internship tax credit program;
    3         creating s. 220.198, F.S.; providing a short title;
    4         defining the term “degree-seeking student intern”;
    5         providing a credit against the corporate income tax to
    6         a taxpayer employing a degree-seeking student intern
    7         if certain criteria are met; specifying the amount of
    8         the credit; specifying a limit on the credit claimed
    9         per taxable year; requiring the Department of Revenue
   10         to adopt certain rules; authorizing the carryforward
   11         of unused tax credits for a specified timeframe;
   12         providing an effective date.
   13          
   14  Be It Enacted by the Legislature of the State of Florida:
   15  
   16         Section 1. Section 220.198, Florida Statutes, is created to
   17  read:
   18         220.198 Internship tax credit program.—
   19         (1) This section may be cited as the “Florida Internship
   20  Tax Credit Program.”
   21         (2) As used in this section, the term “degree-seeking
   22  student intern” means a person who is enrolled as a degree
   23  seeking student at a state university, a Florida College System
   24  institution, a career center operated by a school district under
   25  s. 1001.44, or a charter technical career center.
   26         (3) For taxable years beginning on or after January 1,
   27  2021, a taxpayer shall be allowed a credit against the tax
   28  imposed under this chapter in the amount of $2,000 per degree
   29  seeking student intern employed by the taxpayer if the degree
   30  seeking student intern’s state university, Florida College
   31  System institution, career center operated by a school district
   32  under s. 1001.44, or charter technical career center has
   33  provided documentation attesting to his or her enrollment
   34  status.
   35         (4) A taxpayer may not claim a tax credit under this
   36  section of more than $10,000 in any taxable year.
   37         (5) The department shall adopt rules governing the manner
   38  and form of applications for the tax credit and establishing
   39  qualification requirements for the tax credit.
   40         (6) A taxpayer awarded a tax credit under this section may
   41  carry forward any unused portion of a tax credit for up to 2
   42  taxable years.
   43         Section 2. This act shall take effect July 1, 2020.