Senate Bill sb0022E

    Florida Senate - 2003                                  SB 22-E

    By Senators Bennett and Lynn





    41-633A-04

  1                      A bill to be entitled

  2         An act relating to increasing funding for the

  3         Florida Education Finance Program through a

  4         partial reduction of tax credits for

  5         contributions to nonprofit scholarship-funding

  6         organizations based on estimated student

  7         enrollment; specifying the total amount of tax

  8         credits and carryforward tax credits that may

  9         be granted for the 2003-2004 fiscal year;

10         providing an appropriation; providing for the

11         allocation of such appropriation for the

12         2003-2004 fiscal year; providing an effective

13         date.

14  

15  Be It Enacted by the Legislature of the State of Florida:

16  

17         Section 1.  Notwithstanding the provisions of section

18  220.187, Florida Statutes, the total amount of tax credits and

19  carryforward tax credits that may be granted for the 2003-2004

20  fiscal year under that section for contributions to nonprofit

21  scholarship-funding organizations is $50 million.

22         Section 2.  The sum of $38 million is appropriated from

23  the General Revenue Fund for the purpose of supporting public

24  schools to the level of the base student allocation of the

25  2003-2004 Florida Education Finance Program (FEFP). These

26  funds shall be placed initially in unbudgeted reserve. If a

27  proration of the FEFP is necessary as a result of unexpected

28  fluctuations in either student enrollment or the tax roll

29  during the third or subsequent calculations of the FEFP, these

30  funds shall be released from unbudgeted reserve as needed to

31  reduce the proration.

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2003                                  SB 22-E
    41-633A-04




 1         Section 3.  This act shall take effect upon becoming a

 2  law.

 3  

 4            *****************************************

 5                          SENATE SUMMARY

 6    Limits the total amount of tax credits and carryforward
      tax credits that may be granted for the 2003-2004 fiscal
 7    year for contributions to nonprofit scholarship-funding
      organizations. Provides for an appropriation and for
 8    allocating funds for the 2003-2004 fiscal year.

 9  

10  

11  

12  

13  

14  

15  

16  

17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

                                  2

CODING: Words stricken are deletions; words underlined are additions.