| 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 ss. 220.1875 and 624.51055, F.S.; revising |
| 9 | provisions relating to the amount of a tax credit allowed |
| 10 | for a contribution made to an eligible nonprofit |
| 11 | scholarship-funding organization; amending s. 1002.395, |
| 12 | F.S.; revising provisions relating to the carryforward of |
| 13 | an unused amount of a tax credit and the rescindment of |
| 14 | all or part of a tax credit under the Florida Tax Credit |
| 15 | Scholarship 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 after all tax credits are applied |
| 27 | during the most recent calendar year for which information is |
| 28 | available for each tax identified in subparagraphs 1., 2., and |
| 29 | 4., and names and addresses of the 100 taxpayers with the |
| 30 | greatest tax liability after all tax credits are applied for the |
| 31 | most recent taxable years for which information is available for |
| 32 | the tax identified in subparagraph 3., to an eligible nonprofit |
| 33 | scholarship-funding organization under s. 1002.395 for which the |
| 34 | department approved at least $10 million of tax credit |
| 35 | allocations in the prior year. An eligible nonprofit |
| 36 | scholarship-funding organization may request the information for |
| 37 | any of the taxes identified in subparagraphs 1.-4. but may not |
| 38 | make more than one such request for each tax in any 12-month |
| 39 | period. The department shall provide such information within 45 |
| 40 | days after a request by an eligible nonprofit scholarship- |
| 41 | funding organization. The information may be used by the |
| 42 | eligible nonprofit scholarship-funding organization only for |
| 43 | purposes of notifying the taxpayer of the opportunity to make an |
| 44 | eligible contribution to the Florida Tax Credit Scholarship |
| 45 | Program under s. 1002.395. This paragraph applies only to |
| 46 | information relating to taxes under: |
| 47 | 1. Sections 211.02 and 211.025. |
| 48 | 2. Chapter 212 from a direct pay permitholder as a result |
| 49 | of the direct pay permit held pursuant to s. 212.183. |
| 50 | 3. Chapter 220, unless disclosure of the names and |
| 51 | addresses would violate the terms of any information-sharing |
| 52 | agreement between the department and an agency of the Federal |
| 53 | Government. |
| 54 | 4. Section 624.509(1). |
| 55 |
|
| 56 | Disclosure of information under this subsection shall be |
| 57 | pursuant to a written agreement between the executive director |
| 58 | and the agency. Such agencies, governmental or nongovernmental, |
| 59 | shall be bound by the same requirements of confidentiality as |
| 60 | the Department of Revenue. Breach of confidentiality is a |
| 61 | misdemeanor of the first degree, punishable as provided by s. |
| 62 | 775.082 or s. 775.083. |
| 63 | Section 2. Subsection (1) of section 220.1875, Florida |
| 64 | Statutes, is amended to read: |
| 65 | 220.1875 Credit for contributions to eligible nonprofit |
| 66 | scholarship-funding organizations.- |
| 67 | (1) There is allowed a credit of 100 percent of an |
| 68 | eligible contribution made to an eligible nonprofit scholarship- |
| 69 | funding organization under s. 1002.395 against any tax due for a |
| 70 | taxable year under this chapter. However, such a credit may not |
| 71 | exceed 75 percent of the tax due under this chapter for the |
| 72 | taxable year, after the application of any other allowable |
| 73 | credits by the taxpayer. The credit granted by this section |
| 74 | shall be reduced by the difference between the amount of federal |
| 75 | corporate income tax taking into account the credit granted by |
| 76 | this section and the amount of federal corporate income tax |
| 77 | without application of the credit granted by this section. |
| 78 | Section 3. Subsection (1) of section 624.51055, Florida |
| 79 | Statutes, is amended to read: |
| 80 | 624.51055 Credit for contributions to eligible nonprofit |
| 81 | scholarship-funding organizations.- |
| 82 | (1) There is allowed a credit of 100 percent of an |
| 83 | eligible contribution made to an eligible nonprofit scholarship- |
| 84 | funding organization under s. 1002.395 against any tax due for a |
| 85 | taxable year under s. 624.509(1). However, such a credit may not |
| 86 | exceed 75 percent of the tax due under s. 624.509(1) after |
| 87 | deducting from such tax deductions for assessments made pursuant |
| 88 | to s. 440.51; credits for taxes paid under ss. 175.101 and |
| 89 | 185.08; credits for income taxes paid under chapter 220; credits |
| 90 | for the emergency excise tax paid under chapter 221; and the |
| 91 | credit allowed under s. 624.509(5), as such credit is limited by |
| 92 | s. 624.509(6). An insurer claiming a credit against premium tax |
| 93 | liability under this section shall not be required to pay any |
| 94 | additional retaliatory tax levied pursuant to s. 624.5091 as a |
| 95 | result of claiming such credit. Section 624.5091 does not limit |
| 96 | such credit in any manner. |
| 97 | Section 4. Paragraphs (c) and (e) of subsection (5) of |
| 98 | section 1002.395, Florida Statutes, are amended to read: |
| 99 | 1002.395 Florida Tax Credit Scholarship Program.- |
| 100 | (5) SCHOLARSHIP FUNDING TAX CREDITS; LIMITATIONS.- |
| 101 | (c) If a tax credit approved under paragraph (b) is not |
| 102 | fully used within the specified state fiscal year for credits |
| 103 | under s. 211.0251, s. 212.1831, or s. 561.1211 or against taxes |
| 104 | due for the specified taxable year for credits under s. 220.1875 |
| 105 | or s. 624.51055 because of insufficient tax liability on the |
| 106 | part of the taxpayer, the unused amount may be carried forward |
| 107 | for a period not to exceed 5 3 years. However, any taxpayer that |
| 108 | seeks to carry forward an unused amount of tax credit must |
| 109 | submit an application to the department for approval of the |
| 110 | carryforward tax credit in the year that the taxpayer intends to |
| 111 | use the carryforward. The department must obtain the division's |
| 112 | approval prior to approving the carryforward of a tax credit |
| 113 | under s. 561.1211. |
| 114 | (e) Within any state fiscal year, a taxpayer may rescind |
| 115 | all or part of a tax credit approved under paragraph (b). The |
| 116 | amount rescinded shall become available for that state fiscal |
| 117 | year to another eligible taxpayer as approved by the department |
| 118 | if the taxpayer receives notice from the department that the |
| 119 | rescindment has been accepted by the department and the taxpayer |
| 120 | has not previously rescinded any or all of its tax credits |
| 121 | approved under paragraph (b) more than once in the previous 3 |
| 122 | tax years. The department must obtain the division's approval |
| 123 | prior to accepting the rescindment of a tax credit under s. |
| 124 | 561.1211. Any amount rescinded under this paragraph shall become |
| 125 | available to an eligible taxpayer on a first-come, first-served |
| 126 | basis based on tax credit applications received after the date |
| 127 | the rescindment is accepted by the department. |
| 128 | Section 5. This act shall take effect July 1, 2011. |