27598069, 12ER23-12 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 27598069

Notice of Emergency Rule

Department:

DEPARTMENT OF REVENUE

Overview

RULE:

12ER23-12

Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Transfer; Rescindment

SPECIFIC REASONS FOR FINDING AN IMMEDIATE DANGER TO THE PUBLIC HEALTH, SAFETY OR WELFARE:

Section 43 of Chapter 2023-17, L.O.F., authorizes the Department of Revenue to promulgate emergency rules to implement the provisions of the Live Local Program, which provides that a taxpayer may receive a credit against corporate income tax and insurance premium tax for making an eligible contribution to the Live Local Program under s. 420.50872, F.S.  The promulgation of this emergency rule ensures that the public is notified in the most expedient and appropriate manner regarding the eligibility criteria and application process for qualified businesses to request a Live Local Program tax credit.

REASON FOR CONCLUDING THAT THE PROCEDURE IS FAIR UNDER THE CIRCUMSTANCES:

The Legislature expressly authorized the promulgation of emergency rules to administer the provisions related to the Live Local Program Tax Credit created by s. 34 of Ch. 2023-17, L.O.F. Additionally, this emergency rule is the most expedient and appropriate means of notifying taxpayers of the provisions.

SUMMARY:

Emergency Rule 12ER23-12 amends Rule 12-29.002, F.A.C. (Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Transfer; Rescindment), to include the provisions of s. 39, Ch. 2023-17, L.O.F., for taxpayers claiming a Florida Tax Credit Scholarship Program tax credit.

THE PERSON TO BE CONTACTED REGARDING THE EMERGENCY RULE IS:

Brinton Hevey, Technical Assistance and Dispute Resolution, telephone (850) 717-7754, email RuleComments@floridarevenue.com.

PRINT PUBLISH DATE:

9/27/2023 Vol. 49/188

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=12ER23-12&PDate=9/27/2023&Section=4

REFERENCE MATERIALS:

No reference(s).

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