SB389 - Establishes tax credit for donation of high technology equipment to schools

SB 0389

Establishes tax credit for donation of high technology equipment to schools

Sponsor:	Clay
LR Number:	S1616.01I	Fiscal Note:	1616-01
Committee:	Ways and Means
Last Action:	03/23/99 - Hearing Conducted S Ways & Means Committee		Journal page:
Title:
Effective Date:	August 28, 1999

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Current Bill Summary

SB 389 - 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 HB 562.
OTTO FAJEN