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In 1998, the Florida Legislature created the Voluntary Cleanup Tax Credit (VCTC) to encourage participants to conduct voluntary cleanup of certain drycleaning solvent contaminated sites and brownfield sites in designated brownfield areas.  Participants may be private or public entities, but they must meet the eligibility criteria established under Sections 376.3078, 376.30781, and 376.82, F.S, as applicable, and they must enter into either a Voluntary Cleanup Agreement, for drycleaning solvent cleanup, or a Brownfield Site Rehabilitation Agreement.  Tax credit certificates are awarded by the Florida Department of Environmental Protection from an annual $5 million authorization and are valid against Florida Corporate Income Tax.  Tax credit awards in excess of $5 million for any given fiscal year are issued from the next available tax credit authorization.  The table below summarizes the available types of tax credits.  Please see Section 376.30781, F.S., for more detailed information.

  Tax Credit Type
Site
Rehabilitation
Site
Rehabilitation
Completion
Order (NFA)
Bonus
Affordable
Housing
Bonus
Health
Care
Bonus
Solid
Waste
Application Frequency Annually Once Once Once Once
Maximum Credit for Costs Incurred and Paid from 07/01/1998 to 06/30/2006 35%;
$250,000
10%;
$50,000
N/A N/A N/A
Maximum Credit for Costs Incurred and Paid after 06/30/2006 50%;
$500,000
25%;
$500,000
25%;
$500,000
N/A 50%;
$500,000
Maximum Credit for Costs Incurred and Paid after 12/31/2007 50%;
$500,000
25%;
$500,000
25%;
$500,000
25%;
$500,000
50%;
$500,000


Application Deadline: For site rehabilitation applications, the annual application deadline is January 31, or the following business day, of the year following the calendar year for which an applicant is claiming site rehabilitation costs. Therefore, all site rehabilitation costs incurred during 2013 must be claimed in an application submitted to the Division of Waste Management by January 31, 2014. No prior year costs can be claimed in an annual site rehabilitation tax credit application.


For additional information, please contact Teresa Booeshaghi
(Teresa.Booeshaghi@dep.state.fl.us or 850-245-8933)



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Last updated: November 19, 2013

Waste Cleanup Program #850-245-8927 MS #4505

 

Division of Waste Management #850-245-8705 MS #4500
2600 Blair Stone Road, Tallahassee, Florida 32399-2400

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