FL S1336

Establishes the Florida Public School Tax Credit Program allowing corporations to claim a tax credit equal to 100 percent of eligible contributions to public schools, capped at 75 percent of the corporation's tax liability after other credits.

Eligible contributions include payments for educational expenses, special assistance, tutoring, mentoring, extracurricular activities, character education programs, and pay-to-play fees for student development.

Limits total annual tax credits granted statewide to $118 million combined with s. 624.51055 credits, with unused credits carrying forward for up to 3 years.

Requires public schools receiving contributions to report to the Department of Revenue the number of payments, total dollar amounts received, and amounts spent during the previous calendar year.

Prohibits taxpayers eligible for credits under s. 624.51055 from receiving credits under this section, and allows taxpayers to rescind credits once every 3 years with rescinded amounts made available to other eligible taxpayers on a first-come, first-served basis.