FL H1023

Allows tax dealers to elect to forgo their sales tax collection allowance and redirect that amount to the Educational Enhancement Trust Fund instead.

Election must be made when filing a tax return, remains in effect for the entire calendar year unless terminated, and cannot be rescinded once a return is filed.

If a dealer files a delinquent, incomplete, or underpaying return, only the collection allowance remaining after resolving all tax, interest, and penalty liability is transferred to the trust fund.

Department of Education distributes funds to school districts that adopt resolutions committing to purchase up-to-date classroom technology and provide teacher training; revenues from non-adopting districts are redistributed equally to adopting districts.

Dealer-collection allowance revenues transfer quarterly from the General Revenue Fund to the Educational Enhancement Trust Fund, with the Department of Revenue providing county-level reporting to the Department of Education; effective July 1, 2013.