SB 0389 Establishes tax credit for donation of high technology equipment to schools
LR Number:S1616.01I Fiscal Note:1616-01
Committee:Ways and Means
Last Action:03/23/99 - Hearing Conducted S Ways & Means Committee Journal page:
Effective Date:August 28, 1999
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Current Bill Summary

SB 389 - This act authorizes a tax credit to certain business firms who donate high technology equipment to school districts or who donate certain property to school district libraries. The tax credit will be 50% of the donation not to exceed $10,000. Donations to certain high-risk student school districts will receive a credit of 75% of the donation not to exceed $10,000. Any credit which exceeds the taxpayer's liability will be refunded to the taxpayer or carried over to future tax years.

This act is similar to HB 562.