9399414, 62-788.100 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 9399414

Notice of Proposed Rule

Department:

DEPARTMENT OF ENVIRONMENTAL PROTECTION

Chapter:

VOLUNTARY CLEANUP TAX CREDIT RULE

Overview

RULE:

62-788.100	Applicability and Limitations (Repealed)
62-788.150	Referenced Guidelines (Repealed)
62-788.200	Definitions (Repealed)
62-788.300	Application Process (Repealed)
62-788.310	Affordable Housing VCTC Application Process
62-788.320	Solid Waste VCTC Application Process
62-788.330	Solid Waste Removal Voluntary Cleanup Tax Credit Application Process
62-788.400	Eligibility Determination (Repealed)
62-788.900	Forms (Repealed)

PURPOSE:

The Department proposes to amend Chapter 62-788, F.A.C., to incorporate statutory changes to Sections 199.1055, 220.1845, and 376.30781, F.S. The statutory provisions clarified the Voluntary Cleanup Tax Credit (VCTC) application process and allowed an increase in the available tax credit types, percentages and amounts. The statutes also clarified provisions governing VCTC certificates and repealed the use of VCTC credits towards Intangible Personal Property Tax.

SUMMARY:

The Voluntary Cleanup Tax Credit Program has been expanded and clarified by statute, and the department proposes to clarify some existing requirements based on experience in implementing the program since the rule was initially adopted. The changes to Chapter 62-788, F.A.C., will incorporate or introduce the following at eligible sites: an increase in the per-site tax credit award amount and percentage for site rehabilitation; the requirements for issuance of a one-time tax credit award for affordable housing, for a health care facility or health care provider, and for solid waste removal; the tax credit application submittal and review requirements, and the corresponding deadlines; the tax credit application supporting documentation and payment requirements and the process for correcting a completeness deficiency; new definitions; updates to terminology and to existing definitions; and clarification about the useful life of issued tax credit certificates.

RULEMAKING AUTHORITY:

376.30781, 403.707 FS.

LAW:

376.30781, 403.707, 403.703 FS.

PRINT PUBLISH DATE:

11/24/2010 Vol. 36/47

COMMENTS:

From 11/24/2010 To 12/15/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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