| SB 0623 | Establishes tax credit for donation of high technology equipment to schools |
| Sponsor: | Clay | |||
| LR Number: | 2522S.01I | Fiscal Note: | 2522-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 01/18/00 - Hearing Conducted S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 623 - This act authorizes a tax credit to certain business firms who donate high technology equipment to school districts or who donate certain property to school district libraries. The tax credit will be 50% of the donation not to exceed $10,000. Donations to certain high-risk student school districts will receive a credit of 75% of the donation not to exceed $10,000. Any credit which exceeds the taxpayer's liability will be refunded to the taxpayer or carried over to future tax years.
This act is similar to SB 389 from 1999.
DAVID VALENTINE