and (d). Each business firm shall have ten business days from
the date of the department's notice to elect a reallocation
of tax credits under this paragraph. The department shall
award tax credits on a first-come, first-served basis.
(2) After the department has awarded tax credits under
paragraph (1), the department shall accept new applications
for reallocation of tax credits from any of the categories of
scholarship organizations, opportunity scholarship
organizations or pre-kindergarten scholarship organizations
for which tax credits remain available to the applicant's
preferred category of scholarship organizations, opportunity
scholarship organizations or pre-kindergarten scholarship
organizations for which all available tax credits have been
awarded, notwithstanding any limitations contained in section
1706-F(a). The amount of tax credits to be awarded to a
business firm under this paragraph shall not exceed the
amount of tax credits available for reallocation or the
maximum amount of tax credits for which a business firm is
eligible under subsections (a), (a.1), (c) and (d). The
department shall award tax credits on a first-come, first-
served basis.
(2.1) In any fiscal year, the first $10,000,000 in tax
credits available for reallocation under paragraphs (1) and
(2) shall be set aside for contributions to pre-kindergarten
scholarship organizations. If $10,000,000 in tax credits have
not been awarded to pre-kindergarten scholarship
organizations under paragraphs (1) and (2) prior to March 1
of any fiscal year, the remaining tax credits available for
reallocation under paragraphs (1) and (2) shall be made
available for contributions to any of the categories of
scholarship organizations, opportunity scholarship
organizations or pre-kindergarten scholarship organizations.
(3) No tax credits shall be awarded under this
subsection until the department has completed the award of
tax credits for applications made under subsection (i).
(4) The department shall not reallocate tax credits from
any of the categories of scholarship organizations,
opportunity scholarship organizations or pre-kindergarten
scholarship organizations to the category of educational
improvement organizations.
(5) Subsections (b) and (g) shall not apply to an
application for reallocation of tax credits under this
subsection.
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