FL H0003

Establishes the New Worlds Reading Initiative under the Florida Department of Education to deliver free, high-quality books monthly to students in kindergarten through grade 5 who are reading below grade level or scored below Level 3 on the statewide English Language Arts assessment

Creates the New Worlds Reading Initiative Tax Credit, allowing taxpayers a 100% credit on eligible contributions against corporate income tax, insurance premium tax, sales tax (direct pay permitholders), oil and gas production tax, and alcoholic beverage excise tax, with credits available beginning January 1, 2022

Sets a tax credit cap of $10 million for the 2021-2022 state fiscal year, $30 million for 2022-2023, and $50 million annually thereafter, with unused credits eligible for carryforward up to 10 years

Requires the Department of Education to contract with a state university with early literacy research expertise to administer the initiative, including developing book selections (in consultation with the Just Read, Florida! Office), distributing books, creating parent training materials, and submitting annual financial reports, with administrative expenses capped at 2% of contributions

Requires school districts to identify eligible students, notify parents, coordinate monthly book delivery (October through at least June), offer students choices of book topics/genres, and raise awareness of the initiative through school events, student handbooks, and library partnerships