SB 1646- Relating to Economic Development
On Thursday, February 11th, SB 1646, relating to Economic Development, by Senator Jack Latvala (R-Clearwater) was heard before the Senate Appropriations Subcommittee on Transportation, Tourism, and Economic Development and passed unanimously by a vote of 8 yeas to 0 nays. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.

SB 1646 is a broad based economic development package for the state of Florida. This bill aims to provide incentives to many industries including but not limited to extending the Qualified Defense and Space Contractors Tax Refund program to 2018; requiring companies who provide health benefits to include information on the jobs created and retained in their incentive reports; renames the Quick Action Closing Fund as the “Florida Enterprise Fund” and makes the following changes: requires the project to create at least 10 jobs, requires local financial support of at least 20 percent, and prohibits payment before performance conditions are met.

To view a complete list of what SB 1646 encompasses click here.

The next committee hearing for SB 1646 will be in the Senate Appropriations Committee.

AIF supports legislation that will bolster Florida’s business community throughout the state and help our state become the premiere location to move and grow your business.