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Weekly Legislative Update from February 28, 2020

Economic Development

SB 922 – Relating to Economic Development

On Thursday, February 27, SB 922 by Senator Joe Gruters (R-Sarasota) was heard by the Senate Appropriations Committee and was reported favorable with 19 yeas and 0 nays. AIF stood in support of this legislation.

The bill makes changes to the Qualified Target Industry Tax Refund Program. Specifically, the bill provides that certain businesses that relocate to, or expand into, a county affected by Hurricane Michael are eligible to receive an increased tax refund and authorizes certain businesses located in a county affected by Hurricane Michael to apply for an economic recovery extension. The bill also removes the scheduled repeal date for the tax refund program.

SB 922 will now move to the Senate floor.

AIF supports efforts to increase economic development in Florida’s rural areas by increasing job growth.