Florida Dept. of Revenue - Rule 12C-1.01915: Credit for Qualified Railroad Reconstruction or Replacement Expenditures

Florida Proposed Rules

Rule Number:

Rule Title

12C-1.01915	Credit for Qualified Railroad Reconstruction or Replacement Expenditures.
12C-1.051	Forms

Next Step:

At the September 18, 2023, meeting, the Governor and Cabinet approved the publication of the Notice of Proposed Rulemaking and subsequent adoption of the proposed rules if the substance of the proposed rules [including materials incorporated by reference, if any] remained unchanged upon reaching the date applicable to filing for final adoption pursuant to s. 120.54(3)(e)2., F.S. No substantive changes were made to the rules and the Department filed the rules for certification with the Department of State on November 1, 2023 and November 13, 2023. These rules went into effect on November 21, 2023 and December 3, 2023.

Forms:

F11915: Florida Credit for Qualified Railroad Reconstruction or Replacement Expenditures Application for Credit.
F11915T: Florida Credit for Qualified Railroad Reconstruction or Replacement Expenditures Notice of Intent to Transfer a Credit

Final Language (12C-1.01915):	December 3, 2023
Final Language (12C-1.051):	November 21, 2023
Certification Package (12C-1.01915):	November 14, 2023
Certification Package (12C-1.051):	November 1, 2023
Certification Letter to JAPC (12C-1.01915):	October 23, 2023
Notice of Change:	October 20, 2023 (Vol. 49, No. 205)
JAPC Certification (12C-1.051):	October 19, 2023
Certification Letter to JAPC(12C-1.051):	October 11, 2023
Cabinet Meeting for Hearing:	September 18, 2023
Notice of Public Meeting - Cabinet for Hearing:	September 12, 2023 (Vol. 49, No. 177)
Notice of Change:	August 14, 2023 (Vol. 49, No. 157)
Letter To JAPC:	August 11, 2023
Letter From JAPC:	August 8, 2023
Letter To JAPC:	August 8, 2023
Notice of Change:	August 4, 2023 (Vol. 49, No. 151)
Hearing Transcript:	June 20, 2023
Hearing Information:	June 20, 2023
Package Filed with JAPC:	May 30, 2023
Notice of Proposed Rule:	May 30, 2023 (Vol. 49, No. 104)
Cabinet Meeting for Hearing:	May 23, 2023
Notice of Public Meeting - Cabinet for Hearing:	May 12, 2023 (Vol. 49, No. 93)
Workshop Information:	April 13, 2023 (Canceled, no request received)
Draft Rule Language:	March 30, 2023
Notice of Rule Development:	March 30, 2023 (Vol. 49, No. 62)

Purpose: Section 32 of Chapter 2022-97, Laws of Florida (L.O.F.), created a new tax credit for railroad reconstruction or replacement expenditures to become effective January 1, 2023. The purpose of new rule 12C-1.01915, F.A.C. (Railroad Reconstruction or Replacement Expenditures Credit Program), is to provide guidance to taxpayers on how they can apply for, transfer, and use the credit once it becomes effective. The purpose of amending Rule 12C-1.051, F.A.C., is for the creation of two new forms and revisions to forms used to file corporate income tax returns.