Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax credit for businesses that donate to a student assistance organization, effective July 1, 2016.

Highlights:

• Authorizes a business to claim a tax credit equal to 60 percent of a contribution made to a “student assistance organization” (Sec. 1).

• Defines “student assistance organization” as a nonprofit organization that provides the following services (Sec. 1):
• The organization provides grants or innovative programs to public schools; or
• The organization provides financial assistance to students at eligible private schools.

• Limits the tax credit established by the provisions of this bill to no more than $200,000 in a taxable year (Sec. 1).

• Limits appropriations made by the state for the tax credit established by the provisions of this bill to no more than $15 million in a fiscal year (Sec. 1).

Full Bill Text