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Key Votes

SB 706 - Establishes Education Credit - Maryland Key Vote

Timeline

Issues Related to SB 706

Stage Details

Legislation - Referred to Committee (House) -
Legislation - Bill Passed (Senate) (25-19) - (Key vote)
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Title: Establishes Education Credit

Vote Result
Yea Votes
Nay Votes
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).
Legislation - Introduced (Senate) -

Title: Establishes Education Credit

Sponsors

  • James E. 'Ed' DeGrange Sr. (MD - D) (Out Of Office)

Co-sponsors

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