22416717, 12-29.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 22416717

Notice of Proposed Rule

Department:

DEPARTMENT OF REVENUE

Chapter:

Multitax Credits

Overview

RULE:

12-29.002	Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Transfer; Rescindment
12-29.003	Public Use Forms

PURPOSE:

The purpose of the proposed amendments to Rules 12-29.002 and 12-29.003, F.A.C., is to incorporate statutory changes made by Sections 10 and 13, Chapter 2019-42, L.O.F.

SUMMARY:

Eligible contributions to an eligible nonprofit scholarship-funding organization must be made on or before the date taxpayers are required to file a return. Taxpayers may now apply for a credit beginning in January of the taxable year through the last day before the deadline for filing a return. Taxpayers, after earning a tax credit, may reduce any installment payment for the tax year in which the credit is granted.

RULEMAKING AUTHORITY:

213.06(1), 1002.395(13), FS.

LAW:

92.525(1)(b), 211.0251, 212.1831, 213.37, 220.1875, 561.1211, 624.51055, 1002.395(1)-(3), (5), (13), FS.

PRINT PUBLISH DATE:

9/25/2019 Vol. 45/187

COMMENTS:

From 9/25/2019 To 10/16/2019 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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