HOUSE AMENDMENT Bill No. CS/CS/SB 1436
1	CHAMBER ACTION
2	Senate House
3	.
4	.
5	.
6
7
8
9
10
11
12	Representative Attkisson offered the following:
13
14	Amendment to Amendment (483919) (with title amendment)
15	Between line(s) 1426 and 1427, insert:
16	Section 15. Section 220.1875, Florida Statutes, is created
17	to read:
18	220.1875 Credits for contributions to nonprofit
19	scholarship-funding organizations; scholarships for dependent
20	children of active duty or reserve personnel in the United
21	States military, United States Armed Forces veterans, or members
22	of the Florida National Guard.--
23	(1) PURPOSE.--The purpose of this section is to:
24	(a) Encourage private, voluntary contributions to
25	nonprofit scholarship-funding organizations.
26	(b) Expand educational opportunities for dependent
27	children of active duty or reserve personnel in the United
28	States military, United States Armed Forces veterans, or members
29	of the Florida National Guard.
30	(c) Enable children in this state to achieve a greater
31	level of excellence in their education.
32	(2) DEFINITIONS.--As used in this section, the term:
33	(a) "Department" means the Department of Revenue.
34	(b) "Eligible contribution" means a monetary contribution
35	from a taxpayer, subject to the restrictions provided in this
36	section, to an eligible nonprofit scholarship-funding
37	organization. The taxpayer making the contribution may not
38	designate a specific child as the beneficiary of the
39	contribution. The taxpayer may not contribute more than $5
40	million in 2003 dollars, adjusted annually thereafter to reflect
41	increases or decreases in the Consumer Price Index, to any
42	single eligible nonprofit scholarship-funding organization.
43	(c) "Eligible nonpublic school" means a nonpublic school
44	located in Florida that offers an education to students in any
45	grades K-12 and that meets the requirements in subsection (5).
46	(d) "Eligible nonprofit scholarship-funding organization"
47	means a charitable organization that is exempt from federal
48	income tax pursuant to s. 501(c)(3) of the Internal Revenue Code
49	and that complies with the provisions of subsection (4).
50	(e) "Qualified student" means a dependent child of active
51	duty or reserve personnel in the United States military, a
52	dependent child of a United States Armed Forces veteran, a
53	dependent child of a member of the Florida National Guard, or
54	any qualified student, pursuant to s. 220.187, as further
55	provided in paragraph (4)(d).
56	(3) AUTHORIZATION TO GRANT SCHOLARSHIP FUNDING TAX
57	CREDITS; LIMITATIONS ON INDIVIDUAL AND TOTAL CREDITS.--
58	(a) There is allowed a credit of 100 percent of an
59	eligible contribution against any tax due for a taxable year
60	under this chapter. However, such a credit may not exceed 75
61	percent of the tax due under this chapter for the taxable year,
62	after the application of any other allowable credits by the
63	taxpayer. The credit granted by this section shall be reduced by
64	the difference between the amount of federal corporate income
65	tax taking into account the credit granted by this section and
66	the amount of federal corporate income tax without application
67	of the credit granted by this section.
68	(b) The total amount of tax credit that may be granted
69	each state fiscal year under this section is $10 million in 2003
70	dollars, adjusted annually thereafter to reflect increases or
71	decreases in the Consumer Price Index.
72	(c) A taxpayer who files a Florida consolidated return as
73	a member of an affiliated group pursuant to s. 220.131(1) may be
74	allowed the credit on a consolidated return basis; however, the
75	total credit taken by the affiliated group is subject to the
76	limitation established under paragraph (a).
77	(4) OBLIGATIONS OF ELIGIBLE NONPROFIT SCHOLARSHIP-FUNDING
78	ORGANIZATIONS.--
79	(a) An eligible nonprofit scholarship-funding organization
80	shall provide scholarships, from eligible contributions, to
81	qualified students for:
82	1. Tuition or textbook expenses for, or transportation to,
83	an eligible nonpublic school. At least 75 percent of the
84	scholarship funding must be used to pay tuition expenses; or
85	2. Transportation expenses to a Florida public school that
86	is located outside the district in which the student resides.
87	(b) An eligible nonprofit scholarship-funding organization
88	shall give priority to qualified students who received a
89	scholarship from an eligible nonprofit scholarship-funding
90	organization during the previous school year.
91	(c) The amount of a scholarship provided to any child for
92	any single school year by all eligible nonprofit scholarship-
93	funding organizations from eligible contributions shall not
94	exceed the following annual limits:
95	1. Three thousand five hundred dollars in 2003 dollars,
96	adjusted annually thereafter to reflect increases or decreases
97	in the Consumer Price Index, for a scholarship awarded to a
98	student enrolled in an eligible nonpublic school.
99	2. Five hundred dollars in 2003 dollars, adjusted annually
100	thereafter to reflect increases or decreases in the Consumer
101	Price Index, for a scholarship awarded to a student enrolled in
102	a Florida public school that is located outside the district in
103	which the student resides.
104	(d) An eligible nonprofit scholarship-funding organization
105	that receives an eligible contribution must spend 100 percent of
106	the eligible contribution to provide scholarships within 6
107	months after the date the contribution was received or in the
108	same state fiscal year in which the contribution was received,
109	whichever is later. An eligible nonprofit scholarship-funding
110	organization may use eligible contributions to provide
111	scholarships to qualified students, pursuant to s. 220.187,
112	after it has served qualified dependent children of active duty
113	or reserve personnel in the United States military, dependent
114	children of United States Armed Forces veterans, or dependent
115	children of members of the Florida National Guard. No portion of
116	eligible contributions may be used for administrative expenses.
117	All interest accrued from contributions must be used for
118	scholarships.
119	(e) An eligible nonprofit scholarship-funding organization
120	that receives eligible contributions must provide to the Auditor
121	General an annual financial and compliance audit of its accounts
122	and records conducted by an independent certified public
123	accountant and in accordance with rules adopted by the Auditor
124	General.
125	(f) Payment of the scholarship by the eligible nonprofit
126	scholarship-funding organization shall be by individual warrant
127	or check made payable to the student's parent. If the parent
128	chooses for his or her child to attend an eligible nonpublic
129	school, the warrant or check must be mailed by the eligible
130	nonprofit scholarship-funding organization to the nonpublic
131	school of the parent's choice, and the parent shall
132	restrictively endorse the warrant or check to the nonpublic
133	school. An eligible nonprofit scholarship-funding organization
134	shall ensure that, upon receipt of a scholarship warrant or
135	check, the parent to whom the warrant or check is made payable
136	restrictively endorses the warrant or check to the nonpublic
137	school of the parent's choice for deposit into the account of
138	the nonpublic school.
139	(5) ELIGIBLE NONPUBLIC SCHOOL OBLIGATIONS.--An eligible
140	nonpublic school must:
141	(a) Demonstrate fiscal soundness by being in operation for
142	one school year or provide the Department of Education with a
143	statement by a certified public accountant confirming that the
144	nonpublic school desiring to participate is insured and the
145	owner or owners have sufficient capital or credit to operate the
146	school for the upcoming year serving the number of students
147	anticipated with expected revenues from tuition and other
148	sources that may be reasonably expected. In lieu of such a
149	statement, a surety bond or letter of credit for the amount
150	equal to the scholarship funds for any quarter may be filed with
151	the department.
152	(b) Comply with the antidiscrimination provisions of 42
153	U.S.C. s. 2000d.
154	(c) Meet state and local health and safety laws and codes.
155	(d) Comply with all state laws relating to general
156	regulation of nonpublic schools.
157	(6) ADMINISTRATION; RULES.--
158	(a) An application for a tax credit pursuant to this
159	section shall be submitted to the department on forms
160	established by rule of the department.
161	(b) The department and the Department of Education shall
162	develop a cooperative agreement to assist in the administration
163	of this section. The Department of Education shall be
164	responsible for annually submitting, by March 15, to the
165	department a list of eligible nonprofit scholarship-funding
166	organizations that meet the requirements of paragraph (2)(d) and
167	for monitoring eligibility of nonprofit scholarship-funding
168	organizations that meet the requirements of paragraph (2)(d),
169	eligibility of nonpublic schools that meet the requirements of
170	paragraph (2)(c), and eligibility of expenditures under this
171	section as provided in subsection (4).
172	(c) The department shall adopt rules necessary to
173	administer this section, including rules establishing
174	application forms and procedures and governing the allocation of
175	tax credits under this section on a first-come, first-served
176	basis.
177	(d) The Department of Education shall adopt rules
178	necessary to determine eligibility of nonprofit scholarship-
179	funding organizations as defined in paragraph (2)(d) and
180	according to the provisions of subsection (4) and identify
181	qualified students as defined in paragraph (2)(e).
182	(7) DEPOSITS OF ELIGIBLE CONTRIBUTIONS.--All eligible
183	contributions received by an eligible nonprofit scholarship-
184	funding organization shall be deposited in a manner consistent
185	with s. 18.10(2).
186
187	================= T I T L E A M E N D M E N T =================
188	Remove line(s) 4844, and insert:
189	scholarship program; creating s. 220.1875, F.S.; creating
190	a corporate income tax credit scholarship program for
191	dependents of military personnel and veterans; providing
192	requirements and limitations; amending s. 1002.20, F.S.,
193	relating