The Senate Budget Committee, which includes more than half the members of the Senate, approved a negotiated package Wednesday that would provide more than $120 million in tax credits to a wide range of businesses and consumers in Florida.
Committee Chairman J.D. Alexander, R-Lake Wales, said the package, HB 7087, was the product of negotiations between the House and Senate.
This represents the consensus between the House and the Senate on what the tax package would look like, Alexander said.
The package would double, to $50,000, the states corporate-income tax exemption, and offers credits or sales-tax exemptions to industries as varied as oil-drillers and miners, aircraft-parts manufacturers, fruit and vegetable packers, alcohol distillers, and website creators.
All of us have got something in there," said Sen. Mike Bennett, R-Bradenton.
The Sanford-Burnham Medical Research Institute in Orlando would receive proceeds from cigarette-tax proceeds worth up to $3 million a year.
Charlotte and Citrus counties can apply to the Department of Economic Opportunity for designated enterprise zones where businesses can be offered local tax credits.
Hendry County would be able to sell the Airglades airport to a private company.
The plan even includes a three-day back-to-school sales-tax holiday on certain items that would be scheduled for Aug. 3-5.
Reach Jim Turner at jturner@sunshinestatenews.com or at (772) 215-9889.
