The Football League's director of operations Andy Williams said: "We chose Division Three to start with because they have more players on one-year contracts
"We've researched club accounts and assessed what club's need to do in order to operate in the black. Division Three side's have embraced this scheme.
"We hope to convince all 72 clubs of the merits of the scheme and extend it as quickly as possible."
In the experimental stage of the scheme, clubs who fail to adhere to the rules will be asked to pay £33,000 to the football foundation.
There will be no risk of clubs being docked points until all 72 league clubs have signed up to the scheme.
Williams added@ "All the club's will decide between them on the penalties for not achieving the 60% mark. They will whether there are fines or even point deductions in due course. Whatever they decide upon, the scheme will have to have teeth."
Division Three clubs will be asked to submit budget forecasts to the football league before the end of the month, followed by reports every four months.
Income counting towards turnover includes payments from the league (TV and sponsorship money), gate receipts and financial donations from benefactors or equity funding. Loans made by benefactors will not be included.