Section 32 of Chapter 2022-97, Laws of Florida (L.O.F.), created a new tax credit for railroad reconstruction or replacement expenditures to become effective January 1, 2023. The purpose of new rule 12C-1.01915, F.A.C. (Railroad Reconstruction or Replacement Expenditures Credit Program), is to provide guidance to taxpayers on how they can apply for, transfer, and use the credit once it becomes effective. The purpose of amending Rule 12C-1.051, F.A.C., is for the creation of two new forms and revisions to forms used to file corporate income tax returns.