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HB 1377

Research and Development Tax Credit

2025 Regular Session Introduced by Leonard Spencer

Florida R&D tax credit bill died in committee without establishing whether incentive would sufficiently boost innovation investment versus budgetary cost.

Died in Ways & Means Committee
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Bill Summary · HB 1377

Legislative bill overview

HB 1377 would establish or modify Florida's research and development (R&D) tax credit to incentivize companies to conduct qualifying research activities within the state. The bill was referred to both the Ways & Means and Budget committees, indicating it involved tax policy and fiscal implications that required review from multiple committee perspectives.

Why is this important

R&D tax credits are a common economic development tool that states use to attract innovative companies and retain existing research-intensive businesses. Florida's competitiveness in attracting biotech, aerospace, technology, and other innovation-driven industries could be affected by the availability and structure of such credits.

Potential points of contention

  • Fiscal cost vs. economic benefit: Determining whether the revenue foregone through tax credits generates sufficient economic growth and job creation to justify the expense to the state budget
  • Definition and qualification criteria: Disagreement over which activities qualify as "research and development" and whether eligibility requirements are too broad or too narrow
  • Corporate tax burden concerns: Debate about whether additional tax incentives for businesses are appropriate given other state funding priorities, or concerns that credits primarily benefit large corporations rather than smaller innovators

Compiled from official sources — confirm details with the bill’s official record.

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