28602310, 12C-1.01915 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 28602310

Notice of Development of Rulemaking

Department:

DEPARTMENT OF REVENUE

Division:

Corporate, Estate and Intangible Tax

Chapter:

CORPORATE INCOME TAX

Overview

RULE:

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

PURPOSE:

The purpose of the draft amendments to Rule 12C-1.01915, F.A.C. (Credit for Railroad Reconstruction or Replacement Expenditures), and to the two forms used to administer this tax credit incorporated by reference in Rule 12C-1.015 (Forms), is to reflect the provisions of section 220.1915, as amended by section 40, Chapter 2024-158, Laws of Florida (L.O.F.), and to remove the provisions rendered obsolete. The purpose of the draft amendments to Rule 12C-1.051, F.A.C., is also to adopt a new form to implement section 220.1992, F.S., Individuals with Unique Abilities Tax Credit Program, created by section 41, Chapter 2024-158, L.O.F., to reflect the provisions of section 220.199, F.S., Residential graywater system tax credit, created by section 32, Chapter 2023-157, L.O.F., and to adopt updates to Florida corporate/income tax forms to reflect these law changes and to remove obsolete provisions.

SUBJECT:

Draft changes to Rule 12C-1.01915, F.A.C., and two forms used to administer the railroad reconstruction or replacement expenditures credit, the new form to administer the Florida Individuals with Unique Abilities Tax Credit Program, the new residential graywater system tax credit, and to Florida corporate income/franchise tax forms to incorporate changes by Chapter 2024-158, L.O.F., and Chapter 2023-157, L.O.F., and to remove obsolete provisions.

RULEMAKING AUTHORITY:

213.06(1), 220.1915(7,), 220.192(7), 220.193, 220.196(4), 220.198(6), 220.51, 1002.395(13) FS.

LAW:

119.071(5), 212.08(5)(p), 213.37, 213.755(1), 220.02(8), 220.11, 220.12, 220.13(1), (2), 220.15, 220.16, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1895, 220.1896, 220.1899, 220.191, 220.1915, 220.1915, 220.193, 220.194, 220.195, 220.196, 220.198, 220.1991, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.44, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 221.04, 624.5105, 624.51055, 1002.395 FS., ss. 36, 39, 40, 41,44, 55, Ch. 2024-158, L.O.F.

PRINT PUBLISH DATE:

8/1/2024 Vol. 50/150

RELATED STATUTES
AND LAWS:

213.06(1), 220.1915(7,), 220.192(7), 220.193, 220.196(4), 220.198(6), 220.51, 1002.395(13) FS., 119.071(5), 212.08(5)(p), 213.37, 213.755(1), 220.02(8), 220.11, 220.12, 220.13(1), (2), 220.15, 220.16, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1895, 220.1896, 220.1899, 220.191, 220.1915, 220.1915, 220.193, 220.194, 220.195, 220.196, 220.198, 220.1991, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.44, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 221.04, 624.5105, 624.51055, 1002.395 FS., ss. 36, 39, 40, 41,44, 55, Ch. 2024-158, L.O.F.

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=12C-1.01915&PDate=8/1/2024&Section=1

REFERENCE MATERIALS:

No reference(s).

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