Thomas Miller, Jr. Co-Sponsored (Introduced) this Legislation.
Title: Tax Credit for Educational Donations
- Creates a state income tax credit for 75% of the contributions made by a business entity to an eligible educational scholarship organization or eligible innovative educational organization [Sec 10-726(B)(1)]. - Limits businesses to claiming no more than $200,000 annually in tax credits [Sec. 10-726(III)(B)(2)]. - States that any unused amount of tax credit may not be carried over to any other taxable year [Sec 10-276(H)].
Title: Tax Credit for Educational Donations