| 1 | Representative(s) Pickens offered the following: |
| 2 |
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| 3 | Amendment to Senate Amendment (911178) (with title |
| 4 | amendment) |
| 5 | On page 24, line(s) 21, through page 44, line 15, remove |
| 6 | all of said lines and insert: |
| 7 | Section 3. Effective July 1, 2008, section 220.701, |
| 8 | Florida Statutes, is amended to read: |
| 9 | 220.701 Collection authority.--The department shall |
| 10 | collect the taxes imposed by this chapter and shall pay all |
| 11 | moneys received by it into the Administrative Trust Fund. |
| 12 | Unencumbered balances of revenues transferred into the |
| 13 | Administrative Trust Fund pursuant to this section shall be |
| 14 | transferred monthly into the General Revenue Fund of the state. |
| 15 | However, such transferred funds shall not be expended for |
| 16 | programs established pursuant to Art. IX of the State |
| 17 | Constitution. |
| 18 | Section 4. Except as otherwise expressly provided in this |
| 19 | act, this act shall take effect July 1, 2007. |
| 20 |
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| 21 | ======= T I T L E A M E N D M E N T ========= |
| 22 | On page 45, line(s) 18, through 48, line 5, remove all of |
| 23 | said lines and insert: |
| 24 | deposit moneys received through the corporate income tax |
| 25 | into the Administrative Trust Fund rather than the General |
| 26 | Revenue Fund; providing for unencumbered trust fund |
| 27 | balances to be transferred into the General Revenue Fund; |
| 28 | providing a limitation on how transferred funds may be |
| 29 | expended; providing effective dates. |
| 30 |
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| 31 | WHEREAS, the Corporate Income Tax Credit Scholarship |
| 32 | Program has produced substantial cost savings by relieving the |
| 33 | state of the expense of educating program participants in public |
| 34 | schools at a cost in foregone tax revenue that is substantially |
| 35 | less than the per-student cost of educating children in public |
| 36 | schools, and |
| 37 | WHEREAS, the Corporate Income Tax Credit Scholarship |
| 38 | Program has relieved public school class size by creating new |
| 39 | classroom spaces in the public schools at no cost to the |
| 40 | taxpayers, and |
| 41 | WHEREAS, empirical evidence is clear, overwhelming, and |
| 42 | uncontroverted that expanding educational options produces |
| 43 | improved educational outcomes, both for participating children |
| 44 | and for public schools that are exposed to healthy competition |
| 45 | as a result, and no study has ever documented any harm to public |
| 46 | schools as a result of expanding educational options through a |
| 47 | program like the Corporate Income Tax Credit Scholarship |
| 48 | Program, NOW, THEREFORE, |