HOUSE AMENDMENT |
Bill No. HB 703 CS |
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CHAMBER ACTION |
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Representative Attkisson offered the following: |
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Amendment (with title amendment) |
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Between line(s) 1684 and 1685, insert: |
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Section 15. Section 220.1875, Florida Statutes, is created |
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to read: |
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220.1875 Credits for contributions to nonprofit |
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scholarship-funding organizations; scholarships for dependent |
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children of active duty or reserve personnel in the United |
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States military, United States Armed Forces veterans, or members |
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of the Florida National Guard.--
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(1) PURPOSE.--The purpose of this section is to:
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(a) Encourage private, voluntary contributions to |
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nonprofit scholarship-funding organizations.
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(b) Expand educational opportunities for dependent |
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children of active duty or reserve personnel in the United |
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States military, United States Armed Forces veterans, or members |
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of the Florida National Guard.
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(c) Enable children in this state to achieve a greater |
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level of excellence in their education.
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(2) DEFINITIONS.--As used in this section, the term:
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(a) "Department" means the Department of Revenue.
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(b) "Eligible contribution" means a monetary contribution |
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from a taxpayer, subject to the restrictions provided in this |
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section, to an eligible nonprofit scholarship-funding |
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organization. The taxpayer making the contribution may not |
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designate a specific child as the beneficiary of the |
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contribution. The taxpayer may not contribute more than $5 |
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million in 2003 dollars, adjusted annually thereafter to reflect |
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increases or decreases in the Consumer Price Index, to any |
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single eligible nonprofit scholarship-funding organization.
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(c) "Eligible nonpublic school" means a nonpublic school |
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located in Florida that offers an education to students in any |
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grades K-12 and that meets the requirements in subsection (5).
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(d) "Eligible nonprofit scholarship-funding organization" |
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means a charitable organization that is exempt from federal |
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income tax pursuant to s. 501(c)(3) of the Internal Revenue Code |
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and that complies with the provisions of subsection (4).
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(e) "Qualified student" means a dependent child of active |
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duty or reserve personnel in the United States military, a |
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dependent child of a United States Armed Forces veteran, a |
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dependent child of a member of the Florida National Guard, or |
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any qualified student, pursuant to s. 220.187, as further |
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provided in paragraph (4)(d).
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(3) AUTHORIZATION TO GRANT SCHOLARSHIP FUNDING TAX |
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CREDITS; LIMITATIONS ON INDIVIDUAL AND TOTAL CREDITS.--
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(a) There is allowed a credit of 100 percent of an |
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eligible contribution against any tax due for a taxable year |
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under this chapter. However, such a credit may not exceed 75 |
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percent of the tax due under this chapter for the taxable year, |
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after the application of any other allowable credits by the |
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taxpayer. The credit granted by this section shall be reduced by |
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the difference between the amount of federal corporate income |
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tax taking into account the credit granted by this section and |
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the amount of federal corporate income tax without application |
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of the credit granted by this section.
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(b) The total amount of tax credit that may be granted |
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each state fiscal year under this section is $10 million in 2003 |
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dollars, adjusted annually thereafter to reflect increases or |
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decreases in the Consumer Price Index.
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(c) A taxpayer who files a Florida consolidated return as |
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a member of an affiliated group pursuant to s. 220.131(1) may be |
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allowed the credit on a consolidated return basis; however, the |
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total credit taken by the affiliated group is subject to the |
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limitation established under paragraph (a).
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(4) OBLIGATIONS OF ELIGIBLE NONPROFIT SCHOLARSHIP-FUNDING |
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ORGANIZATIONS.--
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(a) An eligible nonprofit scholarship-funding organization |
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shall provide scholarships, from eligible contributions, to |
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qualified students for:
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1. Tuition or textbook expenses for, or transportation to, |
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an eligible nonpublic school. At least 75 percent of the |
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scholarship funding must be used to pay tuition expenses; or
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2. Transportation expenses to a Florida public school that |
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is located outside the district in which the student resides.
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(b) An eligible nonprofit scholarship-funding organization |
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shall give priority to qualified students who received a |
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scholarship from an eligible nonprofit scholarship-funding |
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organization during the previous school year.
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(c) The amount of a scholarship provided to any child for |
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any single school year by all eligible nonprofit scholarship- |
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funding organizations from eligible contributions shall not |
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exceed the following annual limits:
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1. Three thousand five hundred dollars in 2003 dollars, |
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adjusted annually thereafter to reflect increases or decreases |
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in the Consumer Price Index, for a scholarship awarded to a |
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student enrolled in an eligible nonpublic school.
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2. Five hundred dollars in 2003 dollars, adjusted annually |
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thereafter to reflect increases or decreases in the Consumer |
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Price Index, for a scholarship awarded to a student enrolled in |
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a Florida public school that is located outside the district in |
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which the student resides.
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(d) An eligible nonprofit scholarship-funding organization |
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that receives an eligible contribution must spend 100 percent of |
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the eligible contribution to provide scholarships within 6 |
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months after the date the contribution was received or in the |
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same state fiscal year in which the contribution was received, |
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whichever is later. An eligible nonprofit scholarship-funding |
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organization may use eligible contributions to provide |
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scholarships to qualified students, pursuant to s. 220.187, |
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after it has served qualified dependent children of active duty |
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or reserve personnel in the United States military, dependent |
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children of United States Armed Forces veterans, or dependent |
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children of members of the Florida National Guard. No portion of |
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eligible contributions may be used for administrative expenses. |
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All interest accrued from contributions must be used for |
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scholarships.
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(e) An eligible nonprofit scholarship-funding organization |
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that receives eligible contributions must provide to the Auditor |
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General an annual financial and compliance audit of its accounts |
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and records conducted by an independent certified public |
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accountant and in accordance with rules adopted by the Auditor |
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General.
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(f) Payment of the scholarship by the eligible nonprofit |
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scholarship-funding organization shall be by individual warrant |
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or check made payable to the student's parent. If the parent |
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chooses for his or her child to attend an eligible nonpublic |
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school, the warrant or check must be mailed by the eligible |
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nonprofit scholarship-funding organization to the nonpublic |
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school of the parent's choice, and the parent shall |
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restrictively endorse the warrant or check to the nonpublic |
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school. An eligible nonprofit scholarship-funding organization |
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shall ensure that, upon receipt of a scholarship warrant or |
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check, the parent to whom the warrant or check is made payable |
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restrictively endorses the warrant or check to the nonpublic |
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school of the parent's choice for deposit into the account of |
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the nonpublic school.
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(5) ELIGIBLE NONPUBLIC SCHOOL OBLIGATIONS.--An eligible |
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nonpublic school must:
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(a) Demonstrate fiscal soundness by being in operation for |
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one school year or provide the Department of Education with a |
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statement by a certified public accountant confirming that the |
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nonpublic school desiring to participate is insured and the |
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owner or owners have sufficient capital or credit to operate the |
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school for the upcoming year serving the number of students |
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anticipated with expected revenues from tuition and other |
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sources that may be reasonably expected. In lieu of such a |
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statement, a surety bond or letter of credit for the amount |
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equal to the scholarship funds for any quarter may be filed with |
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the department.
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(b) Comply with the antidiscrimination provisions of 42 |
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U.S.C. s. 2000d.
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(c) Meet state and local health and safety laws and codes.
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(d) Comply with all state laws relating to general |
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regulation of nonpublic schools.
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(6) ADMINISTRATION; RULES.--
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(a) An application for a tax credit pursuant to this |
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section shall be submitted to the department on forms |
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established by rule of the department.
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(b) The department and the Department of Education shall |
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develop a cooperative agreement to assist in the administration |
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of this section. The Department of Education shall be |
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responsible for annually submitting, by March 15, to the |
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department a list of eligible nonprofit scholarship-funding |
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organizations that meet the requirements of paragraph (2)(d) and |
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for monitoring eligibility of nonprofit scholarship-funding |
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organizations that meet the requirements of paragraph (2)(d), |
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eligibility of nonpublic schools that meet the requirements of |
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paragraph (2)(c), and eligibility of expenditures under this |
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section as provided in subsection (4).
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(c) The department shall adopt rules necessary to |
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administer this section, including rules establishing |
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application forms and procedures and governing the allocation of |
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tax credits under this section on a first-come, first-served |
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basis.
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(d) The Department of Education shall adopt rules |
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necessary to determine eligibility of nonprofit scholarship- |
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funding organizations as defined in paragraph (2)(d) and |
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according to the provisions of subsection (4) and identify |
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qualified students as defined in paragraph (2)(e).
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(7) DEPOSITS OF ELIGIBLE CONTRIBUTIONS.--All eligible |
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contributions received by an eligible nonprofit scholarship- |
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funding organization shall be deposited in a manner consistent |
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with s. 18.10(2).
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================= T I T L E A M E N D M E N T ================= |
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Remove line(s) 56, and insert: |
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scholarship program; creating s. 220.1875, F.S.; creating |
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a corporate income tax credit scholarship program for |
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dependents of military personnel and veterans; providing |
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requirements and limitations; amending s. 1002.20, F.S., |
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relating |