Skip to main content
Senate Bill 0126


Senate Bill 0126

ARCHIVE (2011)

Latest Information

 

DIGEST OF INTRODUCED BILL


Public education donation tax credit. Provides for an adjusted gross income tax credit for charitable donations to a charitable organization or educational foundation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and organized and operated solely for the benefit of a public elementary school or public high school 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. Makes the credit refundable. Makes an appropriation.
    Current Status:
     In Committee - first House
    >Latest Printing > (PDF)