Florida Statutes 211.0251 – Credit for contributions to eligible nonprofit scholarship-funding organizations
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Florida Statutes 211.0251
- Department: means the Department of Revenue. See Florida Statutes 211.01
There is allowed a credit of 100 percent of an eligible contribution made to an eligible nonprofit scholarship-funding organization under s. 1002.395 against any tax due under s. 211.02 or s. 211.025. However, a credit allowed under this section may not exceed 50 percent of the tax due on the return the credit is taken. For purposes of the distributions of tax revenue under s. 211.06, the department shall disregard any tax credits allowed under this section to ensure that any reduction in tax revenue received which is attributable to the tax credits results only in a reduction in distributions to the General Revenue Fund. The provisions of s. 1002.395 apply to the credit authorized by this section.