7650989, 12C-1.0191 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 7650989

Notice of Development of Rulemaking

Department:

DEPARTMENT OF REVENUE

Division:

Corporate, Estate and Intangible Tax

Chapter:

CORPORATE INCOME TAX

Overview

RULE:

12C-1.0191	Capital Investment Tax Credit Program
12C-1.0192	Renewable Energy Technologies Investment Tax Credit (Repealed)
12C-1.0193	Florida Renewable Energy Production Credit
12C-1.051	Forms

PURPOSE:

The purpose of the amendments to Rule 12C-1.0191, F.A.C. (Capital Investment Tax Credit Program), is to include provisions for a taxpayer to transfer a capital investment tax credit to another taxpayer, as authorized by section 10, Chapter 2008-227, L.O.F.
The purpose of the creation of Rule 12C-1.0192, F.A.C., (Renewable Energy Technologies Investment Tax Credit), is to provide for the administration of Section 220.192, F.S. (Renewable Energy Technologies Investment Tax Credit), including provisions for a taxpayer to transfer the tax credit to another taxpayer, as authorized by section 11, Chapter 2008-227, L.O.F. When adopted, this rule will incorporate the procedures for applying for an allocation of the Florida renewable energy technologies investment tax credit, for claiming the credit on a Florida corporate income tax return, and for transferring the tax credit.
The purpose of the creation of Rule 12C-1.0193, F.A.C. (Florida Renewable Energy Production Credit), is to provide for the administration of Section 220.193, F.S. (Florida Renewable Energy Production Credit), created by section 13, Chapter 2006-230, L.O.F., and amended by section 12, Chapter 2008-227, L.O.F. When adopted, this rule will incorporate the procedures for applying for an allocation of the Florida renewable energy production credit, for claiming the credit on a Florida corporate income tax return, and for transferring the credit to another taxpayer.
The purpose of the proposed changes to Rule 12C-1.051, F.A.C. (Forms), is to adopt, by reference, the Application for Florida Renewable Energy Production Credit Allocation (Form F-1193) and the Notice of Intent to Transfer A Florida Energy Tax Credit (Form F-1193T). Form F-1193T is used by taxpayers to notify the Department of intent to transfer a Florida renewable energy production credit (authorized by section 13, Chapter 2006-230, L.O.F.), a Florida renewable energy technologies investment tax credit (authorized by section 11, Chapter 2008-227, L.O.F.), or a capital investment tax credit (authorized by section 10, Chapter 2008-227, L.O.F.).

SUBJECT:

The subject of this workshop is the procedures for applying for, and for transferring, the Florida capital investment tax credit, the Florida renewable energy technologies investment tax credit, and the Florida renewable energy production tax credit.

RULEMAKING AUTHORITY:

213.06(1), 220.191(8), 220.192(5), (7), 220.193, 220.51 FS.

LAW:

213.35, 213.755, 220.02(8), 220.03(1), 220.11, 220.12, 220.13(1), (2), 220.131, 220.14, 220.15, 220.16, 220.181, 220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.187, 220.1895, 220.19, 220.191, 220.192, 220.193, 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 FS.

PRINT PUBLISH DATE:

9/25/2009 Vol. 35/38

RELATED STATUTES
AND LAWS:

213.06(1), 220.191(8), 220.192(5), (7), 220.193, 220.51 FS., 213.35, 213.755, 220.02(8), 220.03(1), 220.11, 220.12, 220.13(1), (2), 220.131, 220.14, 220.15, 220.16, 220.181, 220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.187, 220.1895, 220.19, 220.191, 220.192, 220.193, 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 FS.

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-1.0191&PDate=9/25/2009&Section=1

REFERENCE MATERIALS:

No reference(s).

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