FL S1388

Authorizes the Department of Revenue to release names and addresses of the top 100 taxpayers (by tax liability) to eligible nonprofit scholarship-funding organizations that received at least $10 million in approved tax credit allocations in the prior year, limited to one request per tax type per 12-month period.

Removes the 75 percent limitation on tax credits for contributions made to scholarship-funding organizations under the Florida Tax Credit Scholarship Program for both corporate income tax (s. 220.1875) and insurance premium tax (s. 624.51055).

Extends the carry-forward period for unused tax credits from 3 years to 5 years for taxpayers with insufficient tax liability to fully use approved credits in the taxable year.

Deletes the restriction that prevented taxpayers from rescinding tax credits more than once in the previous 3 tax years, allowing unlimited rescindments within any state fiscal year.

Takes effect July 1, 2011.