Florida Regulations 12-29.001: Scope
Current as of: 2024 | Check for updates
|
Other versions
(1) This rule chapter sets forth the rules to be used in the administration of tax credits for contributions made to the following:
(a) Nonprofit scholarship-funding organizations (SFOs) under Florida Statutes § 1002.395, Florida Tax Credit Scholarship Program. That program allows taxpayers to receive a credit allocation for contributions made to SFOs.
(b) Eligible charitable organizations under Florida Statutes § 402.62, Strong Families Tax Credit program. That program allows taxpayers to receive a credit allocation for contributions made to eligible charitable organizations designated by the Department of Children and Families.
(c) The administrator of the initiative under Florida Statutes § 1003.485 The New Worlds Reading Initiative program. That program allows taxpayers to receive a credit allocation made to the administrator of the initiative designated by the Department of Education.
(d) The Florida Housing Finance Corporation under Florida Statutes § 420.50872, Live Local Program. That program allows taxpayers to receive a credit allocation for contributions made to the Florida Housing Finance Corporation.
(2) This rule chapter establishes procedures governing the approval of tax credit allocations and rescindments, procedures for transferring tax credits, and the procedures to be followed by taxpayers when claiming tax credits on tax returns.
Rulemaking Authority 213.06(1), 402.62(7)(b), 420.50872, 1002.395(12)(b), 1003.485(7)(b) F.S. Law Implemented 211.0251, 211.0252, 211.0253, 212.1831, 212.1833, 212.1834, 220.1875, 220.1876, 220.1877, 220.1878, 402.62(5), 420.50872, 561.1211, 561.1212, 561,1213, 624.51055, 624.51056, 624.51057, 624.51058, 1002.395(5), 1003.485(5) FS. History-New 6-6-11, Amended 7-28-15, 1-8-19, 5-23-22, 1-1-24.
Terms Used In Florida Regulations 12-29.001
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) Eligible charitable organizations under Florida Statutes § 402.62, Strong Families Tax Credit program. That program allows taxpayers to receive a credit allocation for contributions made to eligible charitable organizations designated by the Department of Children and Families.
(c) The administrator of the initiative under Florida Statutes § 1003.485 The New Worlds Reading Initiative program. That program allows taxpayers to receive a credit allocation made to the administrator of the initiative designated by the Department of Education.
(d) The Florida Housing Finance Corporation under Florida Statutes § 420.50872, Live Local Program. That program allows taxpayers to receive a credit allocation for contributions made to the Florida Housing Finance Corporation.
(2) This rule chapter establishes procedures governing the approval of tax credit allocations and rescindments, procedures for transferring tax credits, and the procedures to be followed by taxpayers when claiming tax credits on tax returns.
Rulemaking Authority 213.06(1), 402.62(7)(b), 420.50872, 1002.395(12)(b), 1003.485(7)(b) F.S. Law Implemented 211.0251, 211.0252, 211.0253, 212.1831, 212.1833, 212.1834, 220.1875, 220.1876, 220.1877, 220.1878, 402.62(5), 420.50872, 561.1211, 561.1212, 561,1213, 624.51055, 624.51056, 624.51057, 624.51058, 1002.395(5), 1003.485(5) FS. History-New 6-6-11, Amended 7-28-15, 1-8-19, 5-23-22, 1-1-24.