Introduced
by
To authorize individual and business income tax credits equal to the amount a person contributes to a school choice scholarship granting organization authorized by Senate Bill 687. The bill authorizes up to $500 million in annual credits, which would increase over time based on demand according to a specified formula. Credits exceeding a contributor’s annual tax liability would not be refunded but could be “carried forward” and used against up to five years of future state tax liability.
Referred to the Committee on Education and Career Readiness
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 20 to 16 (details)
Referred to the Committee on Education
Passed in the House 55 to 49 (details)
To authorize individual and business income tax credits equal to the amount a person contributes to a school choice scholarship granting organization authorized by Senate Bill 687. The bill authorizes up to $500 million in annual credits, which would increase over time based on demand according to a specified formula. Credits exceeding a contributor’s annual tax liability would not be refunded but could be “carried forward” and used against up to five years of future state tax liability.
Amendment offered
Consideration postponed
