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Panel backs tax credit for donations to low‑performing public schools, cap cut to $1 million
Summary
Senate Bill 123 would allow individuals and corporations to claim an income tax credit for donations to certain D‑ and F‑rated public schools; the House Committee on Appropriations reported the bill favorable as amended after lowering the annual cap to $1 million.
Senator Jackson Andrews presented Senate Bill 123, saying the bill "authorizes an income tax credit for donations to certain public schools." He told the House Committee on Appropriations the credit is available to individuals and corporations who donate to qualifying public schools, with a statutory cap and administrative rules to be handled by the Department of Revenue.
Committee staff read Department…
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