Bill Text: FL H0965 | 2011 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Florida Tax Credit Scholarship Program

Spectrum: Slight Partisan Bill (Republican 8-2-1)

Status: (Engrossed - Dead) 2011-05-05 - Ordered enrolled -HJ 1218 [H0965 Detail]

Download: Florida-2011-H0965-Introduced.html

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HB 965

1	A bill to be entitled
2	An act relating to the Florida Tax Credit Scholarship
3	Program; amending s. 213.053, F.S.; authorizing the
4	Department of Revenue to disclose certain information
5	relating to taxpayers to an eligible nonprofit
6	scholarship-funding organization; providing for
7	application to specified taxes; providing restrictions;
8	amending s. 220.1875, F.S.; revising provisions relating
9	to the amount of a tax credit allowed for a contribution
10	made to an eligible nonprofit scholarship-funding
11	organization; amending s. 1002.395, F.S.; revising
12	provisions relating to the carryforward of an unused
13	amount of a tax credit and the rescindment of all or part
14	of a tax credit under the Florida Tax Credit Scholarship
15	Program; providing an effective date.
16
17	Be It Enacted by the Legislature of the State of Florida:
18
19	Section 1.  Paragraph (dd) is added to subsection (8) of
20	section 213.053, Florida Statutes, as amended by chapter 2010-
21	280, Laws of Florida, to read:
22	213.053  Confidentiality and information sharing.-
23	(8)  Notwithstanding any other provision of this section,
24	the department may provide:
25	(dd)  Names and addresses of the 100 taxpayers with the
26	greatest tax liabilities during the most recent calendar year
27	for which information is available for each tax identified in
28	subparagraphs 1., 2., and 4., and names and addresses of the 100
29	taxpayers with the greatest tax liability for the most recent
30	taxable years for which information is available for the tax
31	identified in subparagraph 3., to an eligible nonprofit
32	scholarship-funding organization that provides scholarships
33	under s. 1002.395 to 10,000 or more eligible students. An
34	eligible nonprofit scholarship-funding organization may request
35	the information for any of the taxes identified in subparagraphs
36	1.-4. but may not make more than one such request for each tax
37	in any 12-month period. The department shall provide such
38	information within 45 days after a request by an eligible
39	nonprofit scholarship-funding organization. The information may
40	be used by the eligible nonprofit scholarship-funding
41	organization only for purposes of notifying the taxpayer of the
42	opportunity to make an eligible contribution to the Florida Tax
43	Credit Scholarship Program under s. 1002.395. This paragraph
44	applies only to information relating to taxes under:
45	1.  Sections 211.02 and 211.025.
46	2.  Chapter 212 from a direct pay permitholder as a result
47	of the direct pay permit held pursuant to s. 212.183.
48	3.  Chapter 220, unless disclosure of the names and
49	addresses would violate the terms of any information-sharing
50	agreement between the department and an agency of the Federal
51	Government.
52	4.  Section 624.509(1).
53
54	Disclosure of information under this subsection shall be
55	pursuant to a written agreement between the executive director
56	and the agency. Such agencies, governmental or nongovernmental,
57	shall be bound by the same requirements of confidentiality as
58	the Department of Revenue. Breach of confidentiality is a
59	misdemeanor of the first degree, punishable as provided by s.
60	775.082 or s. 775.083.
61	Section 2.  Subsection (1) of section 220.1875, Florida
62	Statutes, is amended to read:
63	220.1875  Credit for contributions to eligible nonprofit
64	scholarship-funding organizations.-
65	(1)  There is allowed a credit of 100 percent of an
66	eligible contribution made to an eligible nonprofit scholarship-
67	funding organization under s. 1002.395 against any tax due for a
68	taxable year under this chapter. However, such a credit may not
69	exceed 75 percent of the tax due under this chapter for the
70	taxable year, after the application of any other allowable
71	credits by the taxpayer. The credit granted by this section
72	shall be reduced by the difference between the amount of federal
73	corporate income tax taking into account the credit granted by
74	this section and the amount of federal corporate income tax
75	without application of the credit granted by this section.
76	Section 3.  Paragraphs (c) and (e) of subsection (5) of
77	section 1002.395, Florida Statutes, are amended to read:
78	1002.395  Florida Tax Credit Scholarship Program.-
79	(5)   SCHOLARSHIP FUNDING TAX CREDITS; LIMITATIONS.-
80	(c)  If a tax credit approved under paragraph (b) is not
81	fully used within the specified state fiscal year for credits
82	under s. 211.0251, s. 212.1831, or s. 561.1211 or against taxes
83	due for the specified taxable year for credits under s. 220.1875
84	or s. 624.51055 because of insufficient tax liability on the
85	part of the taxpayer, the unused amount may be carried forward
86	for a period not to exceed 5 3 years. However, any taxpayer that
87	seeks to carry forward an unused amount of tax credit must
88	submit an application to the department for approval of the
89	carryforward tax credit in the year that the taxpayer intends to
90	use the carryforward. The department must obtain the division's
91	approval prior to approving the carryforward of a tax credit
92	under s. 561.1211.
93	(e)  Within any state fiscal year, a taxpayer may rescind
94	all or part of a tax credit approved under paragraph (b). The
95	amount rescinded shall become available for that state fiscal
96	year to another eligible taxpayer as approved by the department
97	if the taxpayer receives notice from the department that the
98	rescindment has been accepted by the department and the taxpayer
99	has not previously rescinded any or all of its tax credits
100	approved under paragraph (b) more than once in the previous 3
101	tax years. The department must obtain the division's approval
102	prior to accepting the rescindment of a tax credit under s.
103	561.1211. Any amount rescinded under this paragraph shall become
104	available to an eligible taxpayer on a first-come, first-served
105	basis based on tax credit applications received after the date
106	the rescindment is accepted by the department.
107	Section 4.  This act shall take effect July 1, 2011.

CODING: Words stricken are deletions; words underlined are additions.