DIGEST OF INTRODUCED BILL
Income tax credit. Provides a refundable adjusted gross income tax credit for charitable donations to public or private elementary schools or high schools located in Indiana. Provides that the maximum individual taxpayer credit is $1,000 in the case of a single return or $2,000 in the case of a joint return. Provides that the maximum corporate taxpayer credit is the greater of 10% of the corporation's total adjusted gross income tax liability or $10,000.