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2014 Florida Statutes

Title XIV TAXATION AND FINANCE
Chapter 211 TAX ON PRODUCTION OF OIL AND GAS AND SEVERANCE OF SOLID MINERALS Entire Chapter
SECTION 0251
Credit for contributions to eligible nonprofit scholarship-funding organizations.
F.S. 211.0251
211.0251 Credit for contributions to eligible nonprofit scholarship-funding organizations.—There is allowed a credit of 100 percent of an eligible contribution made to an eligible nonprofit scholarship-funding organization under s. 1002.395 against any tax due under s. 211.02 or s. 211.025. However, a credit allowed under this section may not exceed 50 percent of the tax due on the return the credit is taken. For purposes of the distributions of tax revenue under s. 211.06, the department shall disregard any tax credits allowed under this section to ensure that any reduction in tax revenue received which is attributable to the tax credits results only in a reduction in distributions to the General Revenue Fund. The provisions of s. 1002.395 apply to the credit authorized by this section.
History.—s. 2, ch. 2010-24.