Transcript Voluntary Cleanup Tax Credits

Teresa Booeshaghi
VCTC Program Manager
Bureau of Waste Cleanup
Voluntary Cleanup Tax Credit Program
Eligibility, Process, and Requirements
Changes
Common Mistakes & Techniques for
Improvement
Statistics
Rule Update
Florida Statute 376.30781
— Incentive to encourage voluntary cleanup by awarding
corporate income tax credits to offset site rehabilitation
or solid waste removal costs
Tax Credit Type
Site
Rehabilitation
Site
Rehabilitation
Completion
Order (SRCO)
Maximum Credit for
Costs Incurred and
Paid from 07/01/1998
to 06/30/2006
35%
$250,000
Maximum Credit for
Costs Incurred and
Paid after 06/30/2006
50%
$500,000
Maximum Credit for
Costs Incurred and
Paid after 12/31/2007
50%
$500,000
Affordable
Housing
Health Care
Solid Waste
Removal
10%
$50,000
N/A
N/A
N/A
25%
$500,000
25%
$500,000
N/A
50%
$500,000
25%
$500,000
25%
$500,000
50%
$500,000
25%
$500,000
Executed Cleanup Agreement
Voluntary Cleanup Agreement (VCA)
Drycleaning Solvent Cleanup Program (DSCP) sites
Drycleaning-solvent contaminated sites where the real
property owner has not owned or operated the
drycleaning facility
Brownfield Site Rehabilitation Agreement (BSRA)
Solid Waste Removal
Not operated as a permitted solid waste disposal area
Not operated for monetary compensation
“integral to site rehabilitation”
As required by
Chapter 62-785 F.A.C. - Brownfields
Chapter 62-782 F.A.C. - Drycleaning
Examples Include:
Site Assessment Activities
Remedial Actions
Solid Waste Removal from eligible Brownfield Sites
Legal Assistance (directly related to the voluntary
cleanup)
Submit:
A completed application with a $250 application review fee
Supporting Documentation
Cover pages of BSRA or VCA
Contractual Records, Payment Requests and Payment
Records
CPA Report
P.E./P.G. Certification
SRCO Letter
Affordable Housing Documentation
Healthcare Facility/Provider Documentation
Site
Rehabilitation
Solid Waste
SRCO
Affordable
Housing
Healthcare
Annual
Once
Once
Once
Once
January 31 of
the year
following the
calendar year
for which site
rehabilitation
costs are being
claimed
After all
costs
incurred
Upon
issuance of
SRCO
When
requirements
are satisfied
When
requirements
are satisfied
Frequency
Due Date
VCTC
Certificate
2010 Statutory Change
Site Rehabilitation ApplicationsSite Rehabilitation costs can now be paid up until the
application is submitted, but no later than January 31
HOWEVER, site rehabilitation must still be performed
between January 1 and December 31
New and Improved Application Form
Applicants Can Now Choose to Receive Application
Correspondence via E-mail or Mail
Point of Contact for the Applicant, and Authorized
Agent Information
Consolidated Affidavit Section
Submittal of an Incomplete Application
Submittal of an Incomplete Application
Missing Information
o Include a Copy of First and Last Pages of BSRA or VCA
o CPA Report (for site rehabilitation and solid waste)
o All Appropriate Parts of the Application Must Be
Completed
Not Signed, Notarized or Sealed
Lacking Supporting Documentation !!!
o Contractual Records
o Payment Requests
o Payment Records
Submittal of an Incomplete Application
Claiming Ineligible Costs
Claiming Ineligible Costs
Brownfield Area Designation Costs
Redevelopment Costs
Site Rehabilitation Performed Outside the
Appropriate Time Period
Submittal of an Incomplete Application
Claiming Ineligible Costs
Failure to Prorate Costs When Appropriate
Failure to Prorate Costs When Appropriate
Don’t Include Redevelopment Costs
Don’t Include Costs for the “Extras”
Clear and Detailed Records
Contractual Records
Payment Requests
Payment Records
Make Sure Your Application is Complete
Include the $250 Review Fee (Cashier’s check or
Money Order)
Signed and Sealed
Include CPA Report
Keep it Organized
183 Tax Certificates
Total Awarded $15,523,651.60
Another $7,379,777 Approved But Not Yet
Issued
Rule Workshop Held on November 5, 2010
Notice of Proposed Rule will be Published on
November 23, 2010
Final January 2011??
Teresa Booeshaghi, VCTC Program Manager
(850) 245-8933
[email protected]
Kim Walker, Brownfield Liaison
(850) 245-8934
[email protected]
Robert DuCasse, DOR
(850) 922-4715
[email protected]
VCTC
http://www.dep.state.fl.us/waste/categories/vctc/default.htm
Brownfields
http://www.dep.state.fl.us/waste/categories/brownfields/default.htm
Rule Development
http://www.dep.state.fl.us/waste/categories/wc/pages/WCRuleDevelopment.htm