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The Florida Senate

2019 Florida Statutes

Title XXXVII INSURANCE
Chapter 624 INSURANCE CODE: ADMINISTRATION AND GENERAL PROVISIONS Entire Chapter
SECTION 51055
Credit for contributions to eligible nonprofit scholarship-funding organizations.
F.S. 624.51055
624.51055 Credit for contributions to eligible nonprofit scholarship-funding organizations.—
1(1) 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 for a taxable year under s. 624.509(1) after deducting from such tax deductions for assessments made pursuant to s. 440.51; credits for taxes paid under ss. 175.101 and 185.08; credits for income taxes paid under chapter 220; and the credit allowed under s. 624.509(5), as such credit is limited by s. 624.509(6). An eligible contribution must be made to an eligible nonprofit scholarship-funding organization on or before the date the taxpayer is required to file a return pursuant to ss. 624.509 and 624.5092. An insurer claiming a credit against premium tax liability under this section shall not be required to pay any additional retaliatory tax levied pursuant to s. 624.5091 as a result of claiming such credit. Section 624.5091 does not limit such credit in any manner.
(2) The provisions of s. 1002.395 apply to the credit authorized by this section.
History.—s. 3, ch. 2009-108; s. 11, ch. 2010-24; s. 34, ch. 2011-76; s. 2, ch. 2011-123; s. 10, ch. 2019-42.
1Note.—Section 11, ch. 2019-42, provides that “[t]he amendment made by this act to s. 624.51055, Florida Statutes, first applies to insurance premium taxable years beginning on or after January 1, 2019.”