Florida Proposed Rules

Purpose:    The purpose of the draft amendments to Rule 12-29.001, F.A.C. (Scope), is to clarify the tax credit programs administered by the rule chapter and to provide that the rule chapter includes rules to administer the Child Care Tax Credits program created by sections 26, 32, 39, 44, 49, 54, and 55, Chapter 2024-158, L.O.F.

The purpose of the draft amendments to Rule 12-29.002, F.A.C. (Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Transfer; Rescindment) is to: (1) implement the provisions of subsection 624.509(7), F.S., as amended by section 53, Chapter 2024-158, L.O.F., which adds the Child Care Tax Credits to the insurance premium tax credits and deductions for purposes of the Florida Scholarship Tax Credits program tax credit; (2) remove obsolete provisions and examples for a tax credit carryforward period of five years for tax years beginning before January 1, 2018; (3) update the examples for when taxpayers are eligible to apply for a credit allocation from each annual tax cap, the carryforward of unused tax credits for a ten year period, and when an application for rescindment of an unused credit allocation will not be allowed; and (4) provide an email address for sales and use tax dealers to provide a copy of the certificate of contribution issued by a scholarship-funding organization to the Department to receive a tax credit.

The purpose of the draft amendments to Rule 12-29.003, F.A.C., (Public Use Forms) is to incorporate, by reference: (1) changes to three forms used in the administration of the Florida Tax Credit Scholarship Program to allow applicants to select how their email address may be used by the Department; and (2) four new forms required for taxpayers to receive a credit allocation under the Child Care Tax Credit program for establishing an eligible child care facility for employees, operating a child care facility for employees, or paying an eligible child care facility in the name and for the benefit of an employee, and to rescind a previous credit allocation or to transfer a tax credit between members of the same affiliated group of corporations.

The purpose of the draft amendments to Rule 12-29.003, F.A.C., is to adopt, by reference, changes to two forms to address 2024 legislative changes contained in section 4, Chapter 2024-162, L.O.F., as amended in s. 1003.485, F.S., to provide that the University of Florida Lastinger Center for Learning is the 'administrator' of the New Worlds Reading Initiative. The proposed amendments to two forms, incorporated by reference in Rule 12-29.003, F.A.C., the 'administrator' within the sworn statement

The purpose of the draft amendments to Rule 12-29.004, F.A.C. (Strong Families Tax Credit; Participation; Allocation; Carryforward; Transfer; Rescindment), is to (1) reflect when a taxpayer may first submit an application for an allocation of the tax credit available each state fiscal year provided in subsection 402.62(5), F.S., as amended by section 45, Chapter 2024-158, L.O.F.; and (2) provide an email address for sales and use tax dealers to provide a copy of the certificate of contribution from the eligible charitable organization to the Department and for corporations to submit an application to transfer an unused credit allocation.

The purpose of the draft amendments to Rule 12-29.005, F.A.C. (The New Worlds Reading Initiative; Participation; allocation; Carryforward; Transfer; Rescindment), is to: (1) reflect the administrator of the New Worlds Reading Initiative provided in section 1003.485, F.S., as amended by section 4, Chapter 2024-162, L.O.F.; (2) implement the provisions of subsection 624.509(7), F.S., as amended by section 53, Chapter 2024-158, L.O.F., which adds the Child Care Tax Credits to the insurance premium tax credits and deductions for purposes of The New Worlds reading Initiative program tax credit; and (3) provide an email address for sales and use tax dealers to provide a copy of the certificate of contribution from the administrator to the Department.

The purpose of Rule 12-29.006, F.A.C., (Live Local Program; Participation; Allocation; Carryforward; Transfer; Rescindment), is to provide for corporations to submit an application to the Department to transfer an unused credit allocation.

The purpose of the draft of new Rule 12-29.007, Child Care Tax Credits Program; Participation; Allocation; Carryforward; Transfer; Rescindment, is to provide for administration of the program as provided in sections 26, 32, 36, 39, 44, 49, 53, 54, and 55, Chapter 2024-158, L.O.F., and provide: (1) definitions for purposes of administering the program; (2) the taxes for which a credit allocation may be granted under the program; (3) the process and applications required to apply for an allocation of the tax credit available each state fiscal year under the program; (4) for each tax, the period during which an application for an allocation of the available annual tax credit cap must be submitted; (5) the tax credits and deductions against each tax due that must be deducted to determine the limitation of the child care tax credits available; (6) for each tax, how the tax is to be taken on a tax return; (7) procedures and the required form for corporations to transfer a tax credit in a complete transfer of all assets to another entity or to another member of the same affiliated group of corporations; (8) procedures and the required form to rescind an unused credit allocation; and (9) that the Department will notify the applicant by letter of approval or denial of an application and how to protest a denial of a credit allocation, transfer, or rescindment.

*On December 19, 2024, the proposed rule webpage for Rule 12-29.003 was combined with this page.