Bill Text: FL S1140 | 2020 | Regular Session | Introduced


Bill Title: Public Accountancy

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-03-12 - Laid on Table, refer to CS/CS/HB 867 [S1140 Detail]

Download: Florida-2020-S1140-Introduced.html
       Florida Senate - 2020                                    SB 1140
       
       
        
       By Senator Gruters
       
       
       
       
       
       23-01202A-20                                          20201140__
    1                        A bill to be entitled                      
    2         An act relating to public accountancy; amending s.
    3         473.308, F.S.; requiring certain applicants to not be
    4         licensed in any state or territory in order to be
    5         licensed by endorsement; amending s. 473.311, F.S.;
    6         providing license renewal requirements for nonresident
    7         licensees; amending s. 473.312, F.S.; requiring that a
    8         majority of the hours required for continuing
    9         education include specific content; amending s.
   10         473.313, F.S.; authorizing certain Florida certified
   11         public accountants to apply to the Department of
   12         Business and Professional Regulation to have their
   13         license placed in a retired status; providing
   14         requirements for such conversion; providing
   15         requirements and prohibitions for retired licensees;
   16         authorizing retired licensees to use a specified title
   17         under certain circumstances; providing that retired
   18         licensees are not required to maintain continuing
   19         education requirements; authorizing retired licensees
   20         to reactivate their licenses if certain conditions are
   21         met; defining the term “retired licensee”; providing
   22         an effective date.
   23          
   24  Be It Enacted by the Legislature of the State of Florida:
   25  
   26         Section 1. Subsection (7) of section 473.308, Florida
   27  Statutes, is amended to read:
   28         473.308 Licensure.—
   29         (7) The board shall certify as qualified for a license by
   30  endorsement an applicant who:
   31         (a)1. Is not licensed and has not been licensed in any
   32  another state or territory and who has met the requirements of
   33  this section for education, work experience, and good moral
   34  character and has passed a national, regional, state, or
   35  territorial licensing examination that is substantially
   36  equivalent to the examination required by s. 473.306; and
   37         2. Has completed such continuing education courses as the
   38  board deems appropriate, within the limits for each applicable
   39  2-year period as set forth in s. 473.312, but at least such
   40  courses as are equivalent to the continuing education
   41  requirements for a Florida certified public accountant licensed
   42  in this state during the 2 years immediately preceding her or
   43  his application for licensure by endorsement; or
   44         (b)1.a. Holds a valid license to practice public accounting
   45  issued by another state or territory of the United States, if
   46  the criteria for issuance of such license were substantially
   47  equivalent to the licensure criteria that existed in this state
   48  at the time the license was issued;
   49         b. Holds a valid license to practice public accounting
   50  issued by another state or territory of the United States but
   51  the criteria for issuance of such license did not meet the
   52  requirements of sub-subparagraph a.; has met the requirements of
   53  this section for education, work experience, and good moral
   54  character; and has passed a national, regional, state, or
   55  territorial licensing examination that is substantially
   56  equivalent to the examination required by s. 473.306; or
   57         c. Holds a valid license to practice public accounting
   58  issued by another state or territory of the United States for at
   59  least 10 years before the date of application; has passed a
   60  national, regional, state, or territorial licensing examination
   61  that is substantially equivalent to the examination required by
   62  s. 473.306; and has met the requirements of this section for
   63  good moral character; and
   64         2. Has completed continuing education courses that are
   65  equivalent to the continuing education requirements for a
   66  Florida certified public accountant licensed in this state
   67  during the 2 years immediately preceding her or his application
   68  for licensure by endorsement.
   69         Section 2. Subsection (1) of section 473.311, Florida
   70  Statutes, is amended to read:
   71         473.311 Renewal of license.—
   72         (1)(a) The department shall renew a license issued under s.
   73  473.308 upon receipt of the renewal application and fee and upon
   74  certification by the board that the Florida certified public
   75  accountant has satisfactorily completed the continuing education
   76  requirements of s. 473.312.
   77         (b)A nonresident licensee seeking renewal of a license in
   78  this state shall be determined to have met the continuing
   79  education requirements in s. 473.312, except for the
   80  requirements in s. 473.312(1)(c), if the licensee has complied
   81  with the continuing education requirements applicable in the
   82  state in which his or her office is located. If the state in
   83  which the nonresident licensee’s office is located has no
   84  continuing education requirements for license renewals, the
   85  nonresident licensee must comply with the continuing education
   86  requirements in s. 473.312.
   87         Section 3. Paragraph (c) of subsection (1) of section
   88  473.312, Florida Statutes, is amended to read:
   89         473.312 Continuing education.—
   90         (1)
   91         (c) Not less than 5 percent of the total hours required by
   92  the board shall be in ethics applicable to the practice of
   93  public accounting. This requirement shall be administered by
   94  providers approved by the board and a majority of the hours
   95  shall include a review of the provisions of chapter 455 and this
   96  chapter and the related administrative rules.
   97         Section 4. Section 473.313, Florida Statutes, is amended to
   98  read:
   99         473.313 Inactive status and retired status.—
  100         (1) A Florida certified public accountant may request that
  101  her or his license be placed in an inactive status by making
  102  application to the department. The board may prescribe by rule
  103  fees for placing a license on inactive status, renewal of
  104  inactive status, and reactivation of an inactive license.
  105         (a)(2) A license that has become inactive under this
  106  subsection (1) or for failure to complete the requirements in s.
  107  473.312 may be reactivated under s. 473.311 upon application to
  108  the department. The board may prescribe by rule continuing
  109  education requirements as a condition of reactivating a license.
  110  The maximum continuing education requirements for reactivating a
  111  license are 120 hours, including at least 30 hours in
  112  accounting-related and auditing-related subjects, not more than
  113  30 hours in behavioral subjects, and a minimum of 8 hours in
  114  ethics subjects approved by the board, for the reactivation of a
  115  license that is inactive or delinquent.
  116         (b)(3) A license that is delinquent for failure to report
  117  completion of the requirements in s. 473.312 may be reactivated
  118  under s. 473.311 upon application to the department.
  119  Reactivation requires the payment of an application fee as
  120  determined by the board and certification by the Florida
  121  certified public accountant that the applicant satisfactorily
  122  completed the continuing education requirements set forth under
  123  s. 473.311. If the license is delinquent on January 1 because of
  124  failure to report completed continuing education requirements,
  125  the applicant must submit a complete application to the board by
  126  March 15 immediately after the delinquent period.
  127         (c)(4) Any Florida certified public accountant holding an
  128  inactive license may be permitted to reactivate such license in
  129  a conditional manner. The conditions of reactivation shall
  130  require the payment of fees and the completion of required
  131  continuing education.
  132         (d)(5) Notwithstanding the provisions of s. 455.271, the
  133  board may, at its discretion, reinstate the license of an
  134  individual whose license has become null and void if the
  135  individual has made a good faith effort to comply with this
  136  section but has failed to comply because of illness or unusual
  137  hardship. The individual shall apply to the board for
  138  reinstatement in a manner prescribed by rules of the board and
  139  shall pay an application fee in an amount determined by rule of
  140  the board. The board shall require that the individual meet all
  141  continuing education requirements as provided in subsection (2),
  142  pay appropriate licensing fees, and otherwise be eligible for
  143  renewal of licensure under this chapter.
  144         (2)A Florida certified public accountant who is at least
  145  55 years of age and currently holds an active or inactive
  146  license under this chapter may apply to the department for her
  147  or his license to be placed in a retired status. The application
  148  must be prescribed by the board and must state that the
  149  applicant has no association with accounting or any of the
  150  services described in s. 473.302(8)(a), (c), or (d). If a
  151  licensee who has been granted retired status reenters the
  152  workforce in a position that has an association with accounting
  153  or any of the services described in s. 473.302(8)(a), (c), or
  154  (d), the licensee automatically loses her or his retired status
  155  except as provided in paragraph (a).
  156         (a)A retired licensee who serves without compensation on a
  157  board of directors or board of trustees, provides volunteer tax
  158  preparation services, participates in a government-sponsored
  159  business mentoring program such as the Internal Revenue
  160  Service’s Volunteer Income Tax Assistance program or the Small
  161  Business Administration’s SCORE program, or participates in an
  162  advisory role for a similar charitable, civic, or other
  163  nonprofit organization shall continue to be eligible for retired
  164  status.
  165         (b)The board shall require a retired licensee to affirm in
  166  writing her or his understanding of the limited types of
  167  activities in which she or he may engage while in retired status
  168  and that she or he has a professional duty to ensure that she or
  169  he holds the professional competencies necessary to participate
  170  in such activities.
  171         (c)Licensees may convert their license to retired status
  172  only if they hold a license in good standing and are not the
  173  subject of any sanction or disciplinary action.
  174         (d)A retired licensee may accept routine reimbursement for
  175  actual costs of travel and meals associated with volunteer
  176  services or de minimis per diem amounts paid to the licensee to
  177  cover such expenses as allowed by law.
  178         (e)A retired licensee may use the title of “retired CPA”
  179  on any business card or letterhead or any other printed or
  180  electronic document. However, such title must not be applied in
  181  such a manner that could confuse the public as to the current
  182  status of the licensee. The licensee is not required to have a
  183  certificate issued with the word “retired” on the certificate.
  184         (f)A retired licensee is not required to maintain the
  185  continuing education requirements under s. 473.312.
  186         (g)A retired licensee may not offer or render professional
  187  services that require her or his signature and use of the CPA
  188  title, regardless of whether the word “retired” is attached to
  189  such title.
  190         (h)A retired licensee may reactivate her or his license in
  191  a conditional manner determined by the board. The conditions of
  192  reactivation must require the payment of fees and the completion
  193  of any required continuing education.
  194  
  195  For the purposes of this subsection, the term “retired licensee”
  196  means a licensee whose license has been placed in retired status
  197  by the department.
  198         Section 5. This act shall take effect July 1, 2020.

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