CS/CS/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 requirements for
8	release of information; providing restrictions; amending
9	ss. 220.1875 and 624.51055, F.S.; revising provisions
10	relating to the amount of a tax credit allowed for a
11	contribution made to an eligible nonprofit scholarship-
12	funding organization; amending s. 1002.395, F.S.; revising
13	provisions relating to the carryforward of an unused
14	amount of a tax credit and the rescindment of all or part
15	of a tax credit under the Florida Tax Credit Scholarship
16	Program; providing an effective date.
17
18	Be It Enacted by the Legislature of the State of Florida:
19
20	Section 1.  Paragraph (dd) is added to subsection (8) of
21	section 213.053, Florida Statutes, as amended by chapter 2010-
22	280, Laws of Florida, to read:
23	213.053  Confidentiality and information sharing.-
24	(8)  Notwithstanding any other provision of this section,
25	the department may provide:
26	(dd)  Names and addresses of the 100 taxpayers with the
27	greatest tax liabilities after all tax credits are applied
28	during the most recent calendar year for which information is
29	available for each tax identified in subparagraphs 1., 2., and
30	4., and names and addresses of the 100 taxpayers with the
31	greatest tax liability after all tax credits are applied for the
32	most recent taxable years for which information is available for
33	the tax identified in subparagraph 3., to an eligible nonprofit
34	scholarship-funding organization under s. 1002.395 for which the
35	department approved at least $10 million of tax credit
36	allocations in the prior year. An eligible nonprofit
37	scholarship-funding organization may request the information for
38	any of the taxes identified in subparagraphs 1.-4. but may not
39	make more than one such request for each tax in any 12-month
40	period. For the information for taxes identified in
41	subparagraphs 1., 2., and 4., the department must provide such
42	information within 45 days after a request by an eligible
43	nonprofit scholarship-funding organization. For the information
44	for taxes identified in subparagraph 3., the department must
45	first request the taxpayer's consent to the release of the
46	information and grant the taxpayer a 45-day notice period to
47	object to the release of the information. Information pertaining
48	to a taxpayer that objects to the release of the information may
49	not be released. After the 45-day notice period, the department
50	shall release the information relating to any taxpayer that did
51	not object. The information may be used by the eligible
52	nonprofit scholarship-funding organization only for purposes of
53	notifying the taxpayer of the opportunity to make an eligible
54	contribution to the Florida Tax Credit Scholarship Program under
55	s. 1002.395. This paragraph applies only to information relating
56	to taxes under:
57	1.  Sections 211.02 and 211.025.
58	2.  Chapter 212 from a direct pay permitholder as a result
59	of the direct pay permit held pursuant to s. 212.183.
60	3.  Chapter 220, unless disclosure of the names and
61	addresses would violate the terms of any information-sharing
62	agreement between the department and an agency of the Federal
63	Government.
64	4.  Section 624.509(1).
65
66	Disclosure of information under this subsection shall be
67	pursuant to a written agreement between the executive director
68	and the agency. Such agencies, governmental or nongovernmental,
69	shall be bound by the same requirements of confidentiality as
70	the Department of Revenue. Breach of confidentiality is a
71	misdemeanor of the first degree, punishable as provided by s.
72	775.082 or s. 775.083.
73	Section 2.  Subsection (1) of section 220.1875, Florida
74	Statutes, is amended to read:
75	220.1875  Credit for contributions to eligible nonprofit
76	scholarship-funding organizations.-
77	(1)  There is allowed a credit of 100 percent of an
78	eligible contribution made to an eligible nonprofit scholarship-
79	funding organization under s. 1002.395 against any tax due for a
80	taxable year under this chapter. However, such a credit may not
81	exceed 75 percent of the tax due under this chapter for the
82	taxable year, after the application of any other allowable
83	credits by the taxpayer. The credit granted by this section
84	shall be reduced by the difference between the amount of federal
85	corporate income tax taking into account the credit granted by
86	this section and the amount of federal corporate income tax
87	without application of the credit granted by this section.
88	Section 3.  Subsection (1) of section 624.51055, Florida
89	Statutes, is amended to read:
90	624.51055  Credit for contributions to eligible nonprofit
91	scholarship-funding organizations.-
92	(1)  There is allowed a credit of 100 percent of an
93	eligible contribution made to an eligible nonprofit scholarship-
94	funding organization under s. 1002.395 against any tax due for a
95	taxable year under s. 624.509(1). However, such a credit may not
96	exceed 75 percent of the tax due under s. 624.509(1) after
97	deducting from such tax deductions for assessments made pursuant
98	to s. 440.51; credits for taxes paid under ss. 175.101 and
99	185.08; credits for income taxes paid under chapter 220; credits
100	for the emergency excise tax paid under chapter 221; and the
101	credit allowed under s. 624.509(5), as such credit is limited by
102	s. 624.509(6). An insurer claiming a credit against premium tax
103	liability under this section shall not be required to pay any
104	additional retaliatory tax levied pursuant to s. 624.5091 as a
105	result of claiming such credit. Section 624.5091 does not limit
106	such credit in any manner.
107	Section 4.  Paragraphs (c) and (e) of subsection (5) of
108	section 1002.395, Florida Statutes, are amended to read:
109	1002.395  Florida Tax Credit Scholarship Program.-
110	(5)  SCHOLARSHIP FUNDING TAX CREDITS; LIMITATIONS.-
111	(c)  If a tax credit approved under paragraph (b) is not
112	fully used within the specified state fiscal year for credits
113	under s. 211.0251, s. 212.1831, or s. 561.1211 or against taxes
114	due for the specified taxable year for credits under s. 220.1875
115	or s. 624.51055 because of insufficient tax liability on the
116	part of the taxpayer, the unused amount may be carried forward
117	for a period not to exceed 5 3 years. However, any taxpayer that
118	seeks to carry forward an unused amount of tax credit must
119	submit an application to the department for approval of the
120	carryforward tax credit in the year that the taxpayer intends to
121	use the carryforward. The department must obtain the division's
122	approval prior to approving the carryforward of a tax credit
123	under s. 561.1211.
124	(e)  Within any state fiscal year, a taxpayer may rescind
125	all or part of a tax credit approved under paragraph (b). The
126	amount rescinded shall become available for that state fiscal
127	year to another eligible taxpayer as approved by the department
128	if the taxpayer receives notice from the department that the
129	rescindment has been accepted by the department and the taxpayer
130	has not previously rescinded any or all of its tax credits
131	approved under paragraph (b) more than once in the previous 3
132	tax years. The department must obtain the division's approval
133	prior to accepting the rescindment of a tax credit under s.
134	561.1211. Any amount rescinded under this paragraph shall become
135	available to an eligible taxpayer on a first-come, first-served
136	basis based on tax credit applications received after the date
137	the rescindment is accepted by the department.
138	Section 5.  This act shall take effect July 1, 2011.

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