PWC operators control their own destiny regarding new restrictions. b. 4. Typically, these investments have a sponsor, who manages the operations of the project, and one or more tax equity investors, with all of these parties owning a percentage of the pass-through entitys equity. In Florida, the age requirement to be a passenger on a PWC is six years old. 18. FASB changes accounting for tax credit investments For all investments accounted for using PAM, reporting entities are required to gross up the balance sheet for delayed equity contributions related to the investment if they are unconditional and legally binding, or, if they are contingent upon a future event, when that contingent event becomes probable. Your PWC must be equipped with a marine-rated fire extinguisher and emergency signaling devices. All of the criteria described in paragraph ASC 323-740-25-1 are met. The assessment of whether applicable investments qualify to use PAM under the criteria in ASC 323-740-25-1 is performed as of the date that the investment was entered into, or as of a subsequent reassessment date if applicable. Intelligent Processing Centre - pwc.com Therefore, a reporting entity will need to evaluate the governance documents of the tax credit investment structures to assess which party can make this decision, as this could impact the reporting entitys assessment of whether it can successfully assert that it will meet the substantially all test. They are built for quick, sharp turns, low-radius circling, and rapid acceleration. Excessive boat wakes may contribute to shoreline erosion, especially in narrow streams and inlets. The State of Florida requires one wearable Type I, II, III, or V PFD for each person aboard any vessel. Why is it usually inappropriate to consider low-frequency sound waves as traveling in rays? There is no minimum age to operate a boat. Lawful Operation of a PWC PWC may be operated only between one-half hour before sunrise and one-half hour after sunset. There are over 12,000 registered PWC in the state and the Safety Education Section wants to make sure that all owners and operators ride in a responsible manner. Investor A plans to sell its investment for an estimated residual value of $100,000 pursuant to a put right in the partnership agreement. The operator of vessel A should: Help the injured person and report the incident. Similarly, we believe the cash flow assumptions used in the calculation (e.g., anticipated tax credits and other tax benefits, operating cash flows from the project over the life of the investment, disposal date, sale proceeds, exercise of a put or call option) should reflect the investors cash flow assumptions used in making its investment. Personal watercrafts are not to be operated between hour after sunset and hour before sunrise even with the navigation lights on.