Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. SB 1388
       
       
       
       
       
       
                                Barcode 580706                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/30/2011           .                                
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       The Committee on Education Pre-K - 12 (Benacquisto) recommended
       the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 74 and 75
    4  insert:
    5         Section 3. Subsection (1) of section 624.51055, Florida
    6  Statutes, is amended to read:
    7         624.51055 Credit for contributions to eligible nonprofit
    8  scholarship-funding organizations.—
    9         (1) There is allowed a credit of 100 percent of an eligible
   10  contribution made to an eligible nonprofit scholarship-funding
   11  organization under s. 1002.395 against any tax due for a taxable
   12  year under s. 624.509(1). However, such a credit may not exceed
   13  75 percent of the tax due under s. 624.509(1) after deducting
   14  from such tax deductions for assessments made pursuant to s.
   15  440.51; credits for taxes paid under ss. 175.101 and 185.08;
   16  credits for income taxes paid under chapter 220; credits for the
   17  emergency excise tax paid under chapter 221; and the credit
   18  allowed under s. 624.509(5), as such credit is limited by s.
   19  624.509(6). An insurer claiming a credit against premium tax
   20  liability under this section shall not be required to pay any
   21  additional retaliatory tax levied pursuant to s. 624.5091 as a
   22  result of claiming such credit. Section 624.5091 does not limit
   23  such credit in any manner.
   24  
   25  ================= T I T L E  A M E N D M E N T ================
   26         And the title is amended as follows:
   27         Delete lines 5 - 6
   28  and insert:
   29         certain scholarship-funding organizations; amending
   30         ss. 220.1875 and 624.51055, F.S.; deleting a
   31         limitation on the amount of