Bill > H0853

This bill modifies Florida law to allow dealers to claim tax credits or refunds for taxes they have paid on private-label credit card or dealer credit accounts that become worthless or uncollectible. This means if a customer doesn't pay their bill on a store-branded credit card or a credit plan offered directly by the dealer, and that debt is written off as a bad debt for federal income tax purposes, the dealer can get back the sales tax they already paid on that uncollected amount. The bill outlines specific procedures and requirements for claiming these credits or refunds, including when the debt must be charged off and how the amount of the credit or refund is calculated, with limitations on how much can be recovered, especially in the initial years after the law takes effect. It also defines important terms like "dealer credit," "dealer's affiliates," "lender," and "private-label credit card" to clarify the scope of these provisions.