Increases the total amount of research and development tax credits for Florida businesses to $50 million annually.

The bill amends the research and development tax credit in Florida, increasing the total amount of tax credits that can be granted to businesses to $50 million per calendar year. Applications for these credits must be submitted between March 20 and March 27 for qualified research expenses incurred in the previous year. If the total credits for all applicants exceed the maximum amount, credits will be allocated on a prorated basis. This change applies to the 2027 allocation of tax credits for expenses incurred in calendar year 2026 and takes effect July 1, 2026.

Increases the total amount of research and development tax credits for Florida businesses to $50 million annually.

The bill amends the research and development tax credit in Florida, increasing the total amount of tax credits that can be granted to businesses to $50 million per calendar year. Applications for these credits must be submitted between March 20 and March 27 for qualified research expenses incurred in the previous year. If the total credits for all applicants exceed the maximum amount, credits will be allocated on a prorated basis. This change applies to the 2027 allocation of tax credits for expenses incurred in calendar year 2026 and takes effect July 1, 2026.