30087962, 12-29.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 30087962

Notice of Proposed Rule

Department:

DEPARTMENT OF REVENUE

Chapter:

Multitax Credits

Overview

RULE:

12-29.001	Scope
12-29.002	Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Transfer; Rescindment
12-29.003	Public Use Forms
12-29.005	The New Worlds Reading Initiative; Participation; Allocation; Carryforward; Transfer; Rescindment
12-29.008	Home Away From Home Tax Credit; Participation; Allocation; Carryforward; Transfer; Rescindment

PURPOSE:

The purpose of the proposed amendments to Rule Chapter 12-29, F.A.C. (Multitax Credits), is to update four rules and create one rule and to adopt four new forms to provide for administration of the Home Away From Home Tax Credit and the Rural Community Incentive Program credit created by sections 59, 66, 64, 79, 85, 87, 88, and 89, Ch. 2025-208, L.O.F., effective January 1, 2026.

SUMMARY:

SUMMARY: The proposed amendments to Rule 12-29.001, F.A.C. (Scope), provide that the rule chapter includes rules to administer the Home Away From Home Tax Credit program. 
The proposed amendments to Rule 12-29.002, F.A.C. (Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Transfer; Rescindment), provide the order of the Home Away From Home Tax Credit and the Rural Community Investment Program credit for purposes of calculating the Florida Scholarship Tax Credits program tax credit allowed.
The proposed amendments to Rule 12-29.003, F.A.C. (Public Use Forms), incorporate, by reference, three new forms used in the administration of the Home Away From Home Tax Credit program and one new form to transfer a Rural Community Investment Program tax credit.
The proposed amendments to Rule 12-29.005, F.A.C. (The New Worlds Reading Initiative; Participation; Allocation; Carryforward; Transfer; Rescindment): (1) provide the order of the Home Away From Home Tax Credit and the Rural Community Investment Program credit for purposes of calculating The New Worlds Reading Initiative program tax credit; and (2) provide an email address for sales and use tax dealers to provide a copy of the certificate of contribution from the program administrator to the Department.
The proposed creation of Rule 12-29.008, F.A.C. (Home Away From Home Tax Credit; Participation; Allocation; Carryforward; Transfer; Rescindment), provides for administration of the program providing: (1) definitions for 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.

RULEMAKING AUTHORITY:

213.06(1), 288.062(13), 402.261(7), 402.62(7)(b), 402.63(7)(b), 420.50872(5), 1002.395(12)(b), 1003.485(7)(b) FS.

LAW:

211.0251, 211.0252, 211.0253, 211.0254, 212.1831, 212.1833, 212.1834, 212.1835, 213.053, 213.37, 220.02, 220.1875, 220.1876, 220.1877, 220.18775, 220.1878, 220.19, 288.062, 402.261, 402.62(5), 402.63(5), 420.50872, 561.1211, 561.1212, 561,1213, 561.12135, 561.1214, 624.509(7), 624.51055, 624.51056, 624.51057, 624.51058, 624.51059, 624.5107, 1002.395(5), 1003.485(5) FS.

PRINT PUBLISH DATE:

10/13/2025 Vol. 51/199

COMMENTS:

From 10/13/2025 To 11/3/2025 (21 Days)

REFERENCE MATERIALS:

Ref-18768 DR-288062: Rural Community Investment Program Notice of Intent to Transfer a Tax Credit
Ref-18769 DR-665000: Home Away From Home Tax Credit Application for Tax Credit Allocation for Contributions to Eligible Charitable Organizations
Ref-18770 DR-665100: Home Away From Home Tax Credit Application for Rescindment of Previous Allocation of Tax Credit
Ref-18771 DR-665200: Home Away From Home Tax Credit Notice of Intent to Transfer a Tax Credit

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