HOUSE AMENDMENT
Bill No. HB 703 CS
   
1 CHAMBER ACTION
2
Senate House
3 .
4 .
5 .
6         
7         
8         
9         
10         
11         
12          Representative Attkisson offered the following:
13         
14          Amendment (with title amendment)
15          Between line(s) 1684 and 1685, insert:
16          Section 15. Section 220.1875, Florida Statutes, is created
17    to read:
18          220.1875 Credits for contributions to nonprofit
19    scholarship-funding organizations; scholarships for dependent
20    children of active duty or reserve personnel in the United
21    States military, United States Armed Forces veterans, or members
22    of the Florida National Guard.--
23          (1) PURPOSE.--The purpose of this section is to:
24          (a) Encourage private, voluntary contributions to
25    nonprofit scholarship-funding organizations.
26          (b) Expand educational opportunities for dependent
27    children of active duty or reserve personnel in the United
28    States military, United States Armed Forces veterans, or members
29    of the Florida National Guard.
30          (c) Enable children in this state to achieve a greater
31    level of excellence in their education.
32          (2) DEFINITIONS.--As used in this section, the term:
33          (a) "Department" means the Department of Revenue.
34          (b) "Eligible contribution" means a monetary contribution
35    from a taxpayer, subject to the restrictions provided in this
36    section, to an eligible nonprofit scholarship-funding
37    organization. The taxpayer making the contribution may not
38    designate a specific child as the beneficiary of the
39    contribution. The taxpayer may not contribute more than $5
40    million in 2003 dollars, adjusted annually thereafter to reflect
41    increases or decreases in the Consumer Price Index, to any
42    single eligible nonprofit scholarship-funding organization.
43          (c) "Eligible nonpublic school" means a nonpublic school
44    located in Florida that offers an education to students in any
45    grades K-12 and that meets the requirements in subsection (5).
46          (d) "Eligible nonprofit scholarship-funding organization"
47    means a charitable organization that is exempt from federal
48    income tax pursuant to s. 501(c)(3) of the Internal Revenue Code
49    and that complies with the provisions of subsection (4).
50          (e) "Qualified student" means a dependent child of active
51    duty or reserve personnel in the United States military, a
52    dependent child of a United States Armed Forces veteran, a
53    dependent child of a member of the Florida National Guard, or
54    any qualified student, pursuant to s. 220.187, as further
55    provided in paragraph (4)(d).
56          (3) AUTHORIZATION TO GRANT SCHOLARSHIP FUNDING TAX
57    CREDITS; LIMITATIONS ON INDIVIDUAL AND TOTAL CREDITS.--
58          (a) There is allowed a credit of 100 percent of an
59    eligible contribution against any tax due for a taxable year
60    under this chapter. However, such a credit may not exceed 75
61    percent of the tax due under this chapter for the taxable year,
62    after the application of any other allowable credits by the
63    taxpayer. The credit granted by this section shall be reduced by
64    the difference between the amount of federal corporate income
65    tax taking into account the credit granted by this section and
66    the amount of federal corporate income tax without application
67    of the credit granted by this section.
68          (b) The total amount of tax credit that may be granted
69    each state fiscal year under this section is $10 million in 2003
70    dollars, adjusted annually thereafter to reflect increases or
71    decreases in the Consumer Price Index.
72          (c) A taxpayer who files a Florida consolidated return as
73    a member of an affiliated group pursuant to s. 220.131(1) may be
74    allowed the credit on a consolidated return basis; however, the
75    total credit taken by the affiliated group is subject to the
76    limitation established under paragraph (a).
77          (4) OBLIGATIONS OF ELIGIBLE NONPROFIT SCHOLARSHIP-FUNDING
78    ORGANIZATIONS.--
79          (a) An eligible nonprofit scholarship-funding organization
80    shall provide scholarships, from eligible contributions, to
81    qualified students for:
82          1. Tuition or textbook expenses for, or transportation to,
83    an eligible nonpublic school. At least 75 percent of the
84    scholarship funding must be used to pay tuition expenses; or
85          2. Transportation expenses to a Florida public school that
86    is located outside the district in which the student resides.
87          (b) An eligible nonprofit scholarship-funding organization
88    shall give priority to qualified students who received a
89    scholarship from an eligible nonprofit scholarship-funding
90    organization during the previous school year.
91          (c) The amount of a scholarship provided to any child for
92    any single school year by all eligible nonprofit scholarship-
93    funding organizations from eligible contributions shall not
94    exceed the following annual limits:
95          1. Three thousand five hundred dollars in 2003 dollars,
96    adjusted annually thereafter to reflect increases or decreases
97    in the Consumer Price Index, for a scholarship awarded to a
98    student enrolled in an eligible nonpublic school.
99          2. Five hundred dollars in 2003 dollars, adjusted annually
100    thereafter to reflect increases or decreases in the Consumer
101    Price Index, for a scholarship awarded to a student enrolled in
102    a Florida public school that is located outside the district in
103    which the student resides.
104          (d) An eligible nonprofit scholarship-funding organization
105    that receives an eligible contribution must spend 100 percent of
106    the eligible contribution to provide scholarships within 6
107    months after the date the contribution was received or in the
108    same state fiscal year in which the contribution was received,
109    whichever is later. An eligible nonprofit scholarship-funding
110    organization may use eligible contributions to provide
111    scholarships to qualified students, pursuant to s. 220.187,
112    after it has served qualified dependent children of active duty
113    or reserve personnel in the United States military, dependent
114    children of United States Armed Forces veterans, or dependent
115    children of members of the Florida National Guard. No portion of
116    eligible contributions may be used for administrative expenses.
117    All interest accrued from contributions must be used for
118    scholarships.
119          (e) An eligible nonprofit scholarship-funding organization
120    that receives eligible contributions must provide to the Auditor
121    General an annual financial and compliance audit of its accounts
122    and records conducted by an independent certified public
123    accountant and in accordance with rules adopted by the Auditor
124    General.
125          (f) Payment of the scholarship by the eligible nonprofit
126    scholarship-funding organization shall be by individual warrant
127    or check made payable to the student's parent. If the parent
128    chooses for his or her child to attend an eligible nonpublic
129    school, the warrant or check must be mailed by the eligible
130    nonprofit scholarship-funding organization to the nonpublic
131    school of the parent's choice, and the parent shall
132    restrictively endorse the warrant or check to the nonpublic
133    school. An eligible nonprofit scholarship-funding organization
134    shall ensure that, upon receipt of a scholarship warrant or
135    check, the parent to whom the warrant or check is made payable
136    restrictively endorses the warrant or check to the nonpublic
137    school of the parent's choice for deposit into the account of
138    the nonpublic school.
139          (5) ELIGIBLE NONPUBLIC SCHOOL OBLIGATIONS.--An eligible
140    nonpublic school must:
141          (a) Demonstrate fiscal soundness by being in operation for
142    one school year or provide the Department of Education with a
143    statement by a certified public accountant confirming that the
144    nonpublic school desiring to participate is insured and the
145    owner or owners have sufficient capital or credit to operate the
146    school for the upcoming year serving the number of students
147    anticipated with expected revenues from tuition and other
148    sources that may be reasonably expected. In lieu of such a
149    statement, a surety bond or letter of credit for the amount
150    equal to the scholarship funds for any quarter may be filed with
151    the department.
152          (b) Comply with the antidiscrimination provisions of 42
153    U.S.C. s. 2000d.
154          (c) Meet state and local health and safety laws and codes.
155          (d) Comply with all state laws relating to general
156    regulation of nonpublic schools.
157          (6) ADMINISTRATION; RULES.--
158          (a) An application for a tax credit pursuant to this
159    section shall be submitted to the department on forms
160    established by rule of the department.
161          (b) The department and the Department of Education shall
162    develop a cooperative agreement to assist in the administration
163    of this section. The Department of Education shall be
164    responsible for annually submitting, by March 15, to the
165    department a list of eligible nonprofit scholarship-funding
166    organizations that meet the requirements of paragraph (2)(d) and
167    for monitoring eligibility of nonprofit scholarship-funding
168    organizations that meet the requirements of paragraph (2)(d),
169    eligibility of nonpublic schools that meet the requirements of
170    paragraph (2)(c), and eligibility of expenditures under this
171    section as provided in subsection (4).
172          (c) The department shall adopt rules necessary to
173    administer this section, including rules establishing
174    application forms and procedures and governing the allocation of
175    tax credits under this section on a first-come, first-served
176    basis.
177          (d) The Department of Education shall adopt rules
178    necessary to determine eligibility of nonprofit scholarship-
179    funding organizations as defined in paragraph (2)(d) and
180    according to the provisions of subsection (4) and identify
181    qualified students as defined in paragraph (2)(e).
182          (7) DEPOSITS OF ELIGIBLE CONTRIBUTIONS.--All eligible
183    contributions received by an eligible nonprofit scholarship-
184    funding organization shall be deposited in a manner consistent
185    with s. 18.10(2).
186         
187         
188    ================= T I T L E A M E N D M E N T =================
189          Remove line(s) 56, and insert:
190          scholarship program; creating s. 220.1875, F.S.; creating
191    a corporate income tax credit scholarship program for
192    dependents of military personnel and veterans; providing
193    requirements and limitations; amending s. 1002.20, F.S.,
194    relating