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Introduced Senate Bill (S)

DIGEST

Income tax credit for K-12 education contributions. Provides a 50% state tax credit to taxpayers that contribute to a public elementary school or public secondary school located in Indiana or a foundation organized and operated solely for the benefit of an Indiana public school. Sets forth standards that apply to taking the credit and to schools and foundations that receive contributions. Limits the total credits that may be claimed during a state fiscal year using a three year phase in period. Income tax credit for K-12 education contributions. Provides a 50% state tax credit to taxpayers that contribute to a public elementary school or public secondary school located in Indiana or a foundation organized and operated solely for the benefit of an Indiana public school. Sets forth standards that apply to taking the credit and to schools and foundations that receive contributions. Limits the total credits that may be claimed during a state fiscal year using a three year phase in period.