CS/HB 965

A bill to be entitled
2An act relating to the Florida Tax Credit Scholarship
3Program; amending s. 213.053, F.S.; authorizing the
4Department of Revenue to disclose certain information
5relating to taxpayers to an eligible nonprofit
6scholarship-funding organization; providing for
7application to specified taxes; providing restrictions;
8amending ss. 220.1875 and 624.51055, F.S.; revising
9provisions relating to the amount of a tax credit allowed
10for a contribution made to an eligible nonprofit
11scholarship-funding organization; amending s. 1002.395,
12F.S.; revising provisions relating to the carryforward of
13an unused amount of a tax credit and the rescindment of
14all or part of a tax credit under the Florida Tax Credit
15Scholarship Program; providing an effective date.
17Be It Enacted by the Legislature of the State of Florida:
19     Section 1.  Paragraph (dd) is added to subsection (8) of
20section 213.053, Florida Statutes, as amended by chapter 2010-
21280, Laws of Florida, to read:
22     213.053  Confidentiality and information sharing.-
23     (8)  Notwithstanding any other provision of this section,
24the department may provide:
25     (dd)  Names and addresses of the 100 taxpayers with the
26greatest tax liabilities after all tax credits are applied
27during the most recent calendar year for which information is
28available for each tax identified in subparagraphs 1., 2., and
294., and names and addresses of the 100 taxpayers with the
30greatest tax liability after all tax credits are applied for the
31most recent taxable years for which information is available for
32the tax identified in subparagraph 3., to an eligible nonprofit
33scholarship-funding organization under s. 1002.395 for which the
34department approved at least $10 million of tax credit
35allocations in the prior year. An eligible nonprofit
36scholarship-funding organization may request the information for
37any of the taxes identified in subparagraphs 1.-4. but may not
38make more than one such request for each tax in any 12-month
39period. The department shall provide such information within 45
40days after a request by an eligible nonprofit scholarship-
41funding organization. The information may be used by the
42eligible nonprofit scholarship-funding organization only for
43purposes of notifying the taxpayer of the opportunity to make an
44eligible contribution to the Florida Tax Credit Scholarship
45Program under s. 1002.395. This paragraph applies only to
46information relating to taxes under:
47     1.  Sections 211.02 and 211.025.
48     2.  Chapter 212 from a direct pay permitholder as a result
49of the direct pay permit held pursuant to s. 212.183.
50     3.  Chapter 220, unless disclosure of the names and
51addresses would violate the terms of any information-sharing
52agreement between the department and an agency of the Federal
54     4.  Section 624.509(1).
56Disclosure of information under this subsection shall be
57pursuant to a written agreement between the executive director
58and the agency. Such agencies, governmental or nongovernmental,
59shall be bound by the same requirements of confidentiality as
60the Department of Revenue. Breach of confidentiality is a
61misdemeanor of the first degree, punishable as provided by s.
62775.082 or s. 775.083.
63     Section 2.  Subsection (1) of section 220.1875, Florida
64Statutes, is amended to read:
65     220.1875  Credit for contributions to eligible nonprofit
66scholarship-funding organizations.-
67     (1)  There is allowed a credit of 100 percent of an
68eligible contribution made to an eligible nonprofit scholarship-
69funding organization under s. 1002.395 against any tax due for a
70taxable year under this chapter. However, such a credit may not
71exceed 75 percent of the tax due under this chapter for the
72taxable year, after the application of any other allowable
73credits by the taxpayer. The credit granted by this section
74shall be reduced by the difference between the amount of federal
75corporate income tax taking into account the credit granted by
76this section and the amount of federal corporate income tax
77without application of the credit granted by this section.
78     Section 3.  Subsection (1) of section 624.51055, Florida
79Statutes, is amended to read:
80     624.51055  Credit for contributions to eligible nonprofit
81scholarship-funding organizations.-
82     (1)  There is allowed a credit of 100 percent of an
83eligible contribution made to an eligible nonprofit scholarship-
84funding organization under s. 1002.395 against any tax due for a
85taxable year under s. 624.509(1). However, such a credit may not
86exceed 75 percent of the tax due under s. 624.509(1) after
87deducting from such tax deductions for assessments made pursuant
88to s. 440.51; credits for taxes paid under ss. 175.101 and
89185.08; credits for income taxes paid under chapter 220; credits
90for the emergency excise tax paid under chapter 221; and the
91credit allowed under s. 624.509(5), as such credit is limited by
92s. 624.509(6). An insurer claiming a credit against premium tax
93liability under this section shall not be required to pay any
94additional retaliatory tax levied pursuant to s. 624.5091 as a
95result of claiming such credit. Section 624.5091 does not limit
96such credit in any manner.
97     Section 4.  Paragraphs (c) and (e) of subsection (5) of
98section 1002.395, Florida Statutes, are amended to read:
99     1002.395  Florida Tax Credit Scholarship Program.-
101     (c)  If a tax credit approved under paragraph (b) is not
102fully used within the specified state fiscal year for credits
103under s. 211.0251, s. 212.1831, or s. 561.1211 or against taxes
104due for the specified taxable year for credits under s. 220.1875
105or s. 624.51055 because of insufficient tax liability on the
106part of the taxpayer, the unused amount may be carried forward
107for a period not to exceed 5 3 years. However, any taxpayer that
108seeks to carry forward an unused amount of tax credit must
109submit an application to the department for approval of the
110carryforward tax credit in the year that the taxpayer intends to
111use the carryforward. The department must obtain the division's
112approval prior to approving the carryforward of a tax credit
113under s. 561.1211.
114     (e)  Within any state fiscal year, a taxpayer may rescind
115all or part of a tax credit approved under paragraph (b). The
116amount rescinded shall become available for that state fiscal
117year to another eligible taxpayer as approved by the department
118if the taxpayer receives notice from the department that the
119rescindment has been accepted by the department and the taxpayer
120has not previously rescinded any or all of its tax credits
121approved under paragraph (b) more than once in the previous 3
122tax years. The department must obtain the division's approval
123prior to accepting the rescindment of a tax credit under s.
124561.1211. Any amount rescinded under this paragraph shall become
125available to an eligible taxpayer on a first-come, first-served
126basis based on tax credit applications received after the date
127the rescindment is accepted by the department.
128     Section 5.  This act shall take effect July 1, 2011.

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