Senate Bill 2314

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



    Florida Senate - 2000                                  SB 2314

    By Senator Grant





    13-1188-00                                              See HB

  1                      A bill to be entitled

  2         An act relating to corporate income tax;

  3         creating s. 220.187, F.S.; providing purpose

  4         and intent; providing definitions; providing a

  5         credit against the tax for a portion of

  6         contributions to a nonprofit scholarship

  7         funding organization or a public school for

  8         scholarships; providing limitations; providing

  9         for rules; providing an effective date.

10

11  Be It Enacted by the Legislature of the State of Florida:

12

13         Section 1.  Section 220.187, Florida Statutes, is

14  created to read:

15         220.187  Credits for contributions to scholarship

16  funding organizations or public schools.--

17         (1)  PURPOSE AND INTENT.--

18         (a)  The purpose of this section is to:

19         1.  Provide a tax credit for certain contributions to a

20  nonprofit scholarship funding organization or public school.

21         2.  Enable corporations in this state to provide

22  greater financial resources for public schools.

23         3.  Expand educational opportunities for children of

24  families that have limited financial resources.

25         4.  Enable children in this state to achieve a greater

26  level of excellence in their education.

27         (b)  In enacting this section, the Legislature

28  recognizes diversity among children and affirms that every

29  child is unique. The Legislature also affirms that children

30  learn differently from one another and may benefit from

31  expanded educational opportunities.

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






    Florida Senate - 2000                                  SB 2314
    13-1188-00                                              See HB




  1         (c)  It is the intent of the Legislature that freedom

  2  of religion of all citizens is inviolate and that nothing in

  3  this section be construed to cause excessive governmental

  4  entanglement with the religious instruction of a nonpublic

  5  school. With respect to a nonpublic school, nothing in this

  6  section gives a governmental agency authority to regulate,

  7  control, supervise, or in any way be involved in the:

  8         1.  Form, manner, or content of religious instruction,

  9  ministry, teaching, or curriculum offered by the nonpublic

10  school.

11         2.  Ability of the nonpublic school to select and

12  supervise qualified personnel and otherwise control the terms

13  of employment, including the right to employ individuals who

14  share the religious views of the school.

15         3.  Internal self-governance and autonomy of the

16  nonpublic school.

17         4.  Religious environment of the nonpublic school, such

18  as symbols, art, icons, and scripture.

19         (2)  DEFINITIONS.--As used in this section:

20         (a)  "Eligible contribution" means a contribution to a

21  public school or nonprofit scholarship funding organization

22  if:

23         1.  The contribution is used to provide scholarships

24  for tuition, transportation, or textbook expenses to children

25  enrolled in an eligible school.

26         2.  The taxpayer making the contribution does not

27  designate a specific child as the beneficiary of the

28  contribution.

29         3.  The contribution is used to provide scholarships of

30  which at least 50 percent are given to children who have been

31  enrolled in a public school during a previous year.

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






    Florida Senate - 2000                                  SB 2314
    13-1188-00                                              See HB




  1         4.  The amount of any scholarship provided to a child

  2  does not exceed 50 percent of the "calculated amount" that

  3  would be computed for that child pursuant to s.

  4  229.0537(6)(a)1. for the school year in which the contribution

  5  is given; if the child is not attending a public school, the

  6  calculated amount shall be based on the public school to which

  7  the child would normally have been assigned.

  8         (b)  "Eligible school" means a public or nonpublic

  9  primary or secondary school located in this state that offers

10  a general education to primary or secondary students and does

11  not discriminate on the basis of race, color, or national

12  origin.

13         (c)  "Nonprofit scholarship funding organization" means

14  a charitable organization that is exempt from federal income

15  tax pursuant to s. 501(c)(3) of the Internal Revenue Code and

16  that allocates at least 90 percent of its annual revenue to

17  providing scholarships for tuition, transportation, and

18  textbook expenses to children enrolled in an eligible school,

19  giving priority to children who demonstrate a need for the

20  scholarships.

21         (3)  CREDIT AUTHORIZED.--There shall be allowed a

22  credit equal to 65 percent of all eligible contributions made

23  by a taxpayer during a taxable year against any tax due for

24  that taxable year under this chapter. However:

25         (a)  For credits claimed for contributions to nonprofit

26  scholarship funding organizations, such credits shall not

27  exceed 75 percent of the tax due under this chapter for the

28  taxable year after the application of any other allowable

29  credits by the taxpayer.

30         (b)  For credits claimed for contributions to public

31  schools, such credits shall not exceed 5 percent of the tax

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






    Florida Senate - 2000                                  SB 2314
    13-1188-00                                              See HB




  1  due under this chapter for the taxable year after the

  2  application of any other allowable credits by the taxpayer.

  3         (4)  ADMINISTRATION; RULES.--

  4         (a)  If the credit granted pursuant to this section is

  5  not fully used in any one year, the unused amount may not be

  6  carried forward. A taxpayer may not convey, assign, or

  7  transfer the credit authorized by this section to another

  8  entity unless all of the assets of the taxpayer are conveyed,

  9  assigned, or transferred in the same transaction.

10         (b)  An application for a tax credit pursuant to this

11  section shall be submitted to the department on forms

12  established by rule of the department.

13         (c)  The department shall adopt rules necessary to

14  administer this section, including rules establishing

15  application procedures and requirements and rules establishing

16  procedures and requirements for determining eligibility for

17  the credit.

18         Section 2.  This act shall take effect January 1, 2001.

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20            *****************************************

21                       LEGISLATIVE SUMMARY

22
      Provides a credit against the corporate income tax in an
23    amount equal to 65 percent of contributions made by a
      taxpayer to a nonprofit scholarship funding organization
24    or a public school to fund scholarships. Provides
      limitations. Prohibits carryover or transfer of the
25    credit.

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