HB0847 • 2026

Research and Development Tax Credit

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Bankson
Last action: 2026-03-13
Official status: House - Died in Ways & Means Committee
Effective date: 2026-07-01

Plain English Breakdown

There is a discrepancy between the candidate statement and the official source regarding the amount of tax credits. The candidate states an increase to $90 million per year, but the official text indicates an increase to $9 million.

Increase in Research and Development Tax Credit

This bill increases the total amount of tax credits available to businesses for research and development activities.

What This Bill Does

Increases the combined total amount of tax credits available to all business enterprises from $50 million to $9 million per year, starting in calendar year 2027.
Sets a specific date when the new rules will start applying, which is July 1, 2026.

Who It Names or Affects

Businesses that apply for research and development tax credits in Florida.

Terms To Know

Tax Credit: A reduction in the amount of taxes a business has to pay, based on certain activities or expenses.
Prorated Basis: Dividing something fairly among people when there is not enough for everyone to get what they want fully.

Limits and Unknowns

The bill does not specify how the increased credit amount will be allocated if more businesses apply than can receive credits.
It only applies to tax credits starting from July 1, 2026, for expenses incurred in calendar year 2027.

Bill History

2026-03-13 House
• Died in Ways & Means Committee
2026-01-13 House
• 1st Reading (Original Filed Version)
2026-01-05 House
• Referred to Ways & Means Committee • Referred to Budget Committee • Now in Ways & Means Committee
2025-12-19 House
• Filed

Official Summary Text

Research and Development Tax Credit; Increases combined total amount of credits which may be granted to business enterprises during any calendar year.

Current Bill Text

Read the full stored bill text

HB 847 2026

CODING: Words stricken are deletions; words underlined are additions.
hb847-00
Page 1 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to the research and development tax 2
credit; amending s. 220.196, F.S.; increasing the 3
combined total amount of credits which may be granted 4
to business enterprises during any calendar year; 5
deleting obsolete language; providing applicability; 6
providing an effective date. 7
8
Be It Enacted by the Legislature of the State of Florida: 9
10
Section 1. Paragraph (e) of subsection (2) of section 11
220.196, Florida Statutes, is amended to read: 12
220.196 Research and development tax credit.— 13
(2) TAX CREDIT.— 14
(e) The combined total amount of tax credits which may be 15
granted to all business enterprises under this section during 16
any calendar year is $50 $9 million, except that the total 17
amount that may be awarded in the 2018 calendar year is $16.5 18
million. Applications may be filed with the department on or 19
after March 20 and before March 27 for qualified research 20
expenses incurred within the preceding calendar year. If the 21
total credits for all applicants exceed the maximum amount 22
allowed under this paragraph, the credits shall be allocated on 23
a prorated basis. 24
Section 2. The amendment made by this act to s. 220.196, 25

HB 847 2026

CODING: Words stricken are deletions; words underlined are additions.
hb847-00
Page 2 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

Florida Statutes, first applies to the 2027 allocation of tax 26
credits for expenses incurred in calendar year 2026. 27
Section 3. This act shall take effect July 1, 2026. 28