CS/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 requirements for
8release of information; providing restrictions; amending
9ss. 220.1875 and 624.51055, F.S.; revising provisions
10relating to the amount of a tax credit allowed for a
11contribution made to an eligible nonprofit scholarship-
12funding organization; amending s. 1002.395, F.S.; revising
13provisions relating to the carryforward of an unused
14amount of a tax credit and the rescindment of all or part
15of a tax credit under the Florida Tax Credit Scholarship
16Program; providing an effective date.
18Be It Enacted by the Legislature of the State of Florida:
20     Section 1.  Paragraph (dd) is added to subsection (8) of
21section 213.053, Florida Statutes, as amended by chapter 2010-
22280, Laws of Florida, to read:
23     213.053  Confidentiality and information sharing.-
24     (8)  Notwithstanding any other provision of this section,
25the department may provide:
26     (dd)  Names and addresses of the 100 taxpayers with the
27greatest tax liabilities after all tax credits are applied
28during the most recent calendar year for which information is
29available for each tax identified in subparagraphs 1., 2., and
304., and names and addresses of the 100 taxpayers with the
31greatest tax liability after all tax credits are applied for the
32most recent taxable years for which information is available for
33the tax identified in subparagraph 3., to an eligible nonprofit
34scholarship-funding organization under s. 1002.395 for which the
35department approved at least $10 million of tax credit
36allocations in the prior year. An eligible nonprofit
37scholarship-funding organization may request the information for
38any of the taxes identified in subparagraphs 1.-4. but may not
39make more than one such request for each tax in any 12-month
40period. For the information for taxes identified in
41subparagraphs 1., 2., and 4., the department must provide such
42information within 45 days after a request by an eligible
43nonprofit scholarship-funding organization. For the information
44for taxes identified in subparagraph 3., the department must
45first request the taxpayer's consent to the release of the
46information and grant the taxpayer a 45-day notice period to
47object to the release of the information. Information pertaining
48to a taxpayer that objects to the release of the information may
49not be released. After the 45-day notice period, the department
50shall release the information relating to any taxpayer that did
51not object. The information may be used by the eligible
52nonprofit scholarship-funding organization only for purposes of
53notifying the taxpayer of the opportunity to make an eligible
54contribution to the Florida Tax Credit Scholarship Program under
55s. 1002.395. This paragraph applies only to information relating
56to taxes under:
57     1.  Sections 211.02 and 211.025.
58     2.  Chapter 212 from a direct pay permitholder as a result
59of the direct pay permit held pursuant to s. 212.183.
60     3.  Chapter 220, unless disclosure of the names and
61addresses would violate the terms of any information-sharing
62agreement between the department and an agency of the Federal
64     4.  Section 624.509(1).
66Disclosure of information under this subsection shall be
67pursuant to a written agreement between the executive director
68and the agency. Such agencies, governmental or nongovernmental,
69shall be bound by the same requirements of confidentiality as
70the Department of Revenue. Breach of confidentiality is a
71misdemeanor of the first degree, punishable as provided by s.
72775.082 or s. 775.083.
73     Section 2.  Subsection (1) of section 220.1875, Florida
74Statutes, is amended to read:
75     220.1875  Credit for contributions to eligible nonprofit
76scholarship-funding organizations.-
77     (1)  There is allowed a credit of 100 percent of an
78eligible contribution made to an eligible nonprofit scholarship-
79funding organization under s. 1002.395 against any tax due for a
80taxable year under this chapter. However, such a credit may not
81exceed 75 percent of the tax due under this chapter for the
82taxable year, after the application of any other allowable
83credits by the taxpayer. The credit granted by this section
84shall be reduced by the difference between the amount of federal
85corporate income tax taking into account the credit granted by
86this section and the amount of federal corporate income tax
87without application of the credit granted by this section.
88     Section 3.  Subsection (1) of section 624.51055, Florida
89Statutes, is amended to read:
90     624.51055  Credit for contributions to eligible nonprofit
91scholarship-funding organizations.-
92     (1)  There is allowed a credit of 100 percent of an
93eligible contribution made to an eligible nonprofit scholarship-
94funding organization under s. 1002.395 against any tax due for a
95taxable year under s. 624.509(1). However, such a credit may not
96exceed 75 percent of the tax due under s. 624.509(1) after
97deducting from such tax deductions for assessments made pursuant
98to s. 440.51; credits for taxes paid under ss. 175.101 and
99185.08; credits for income taxes paid under chapter 220; credits
100for the emergency excise tax paid under chapter 221; and the
101credit allowed under s. 624.509(5), as such credit is limited by
102s. 624.509(6). An insurer claiming a credit against premium tax
103liability under this section shall not be required to pay any
104additional retaliatory tax levied pursuant to s. 624.5091 as a
105result of claiming such credit. Section 624.5091 does not limit
106such credit in any manner.
107     Section 4.  Paragraphs (c) and (e) of subsection (5) of
108section 1002.395, Florida Statutes, are amended to read:
109     1002.395  Florida Tax Credit Scholarship Program.-
111     (c)  If a tax credit approved under paragraph (b) is not
112fully used within the specified state fiscal year for credits
113under s. 211.0251, s. 212.1831, or s. 561.1211 or against taxes
114due for the specified taxable year for credits under s. 220.1875
115or s. 624.51055 because of insufficient tax liability on the
116part of the taxpayer, the unused amount may be carried forward
117for a period not to exceed 5 3 years. However, any taxpayer that
118seeks to carry forward an unused amount of tax credit must
119submit an application to the department for approval of the
120carryforward tax credit in the year that the taxpayer intends to
121use the carryforward. The department must obtain the division's
122approval prior to approving the carryforward of a tax credit
123under s. 561.1211.
124     (e)  Within any state fiscal year, a taxpayer may rescind
125all or part of a tax credit approved under paragraph (b). The
126amount rescinded shall become available for that state fiscal
127year to another eligible taxpayer as approved by the department
128if the taxpayer receives notice from the department that the
129rescindment has been accepted by the department and the taxpayer
130has not previously rescinded any or all of its tax credits
131approved under paragraph (b) more than once in the previous 3
132tax years. The department must obtain the division's approval
133prior to accepting the rescindment of a tax credit under s.
134561.1211. Any amount rescinded under this paragraph shall become
135available to an eligible taxpayer on a first-come, first-served
136basis based on tax credit applications received after the date
137the rescindment is accepted by the department.
138     Section 5.  This act shall take effect July 1, 2011.

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