|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|
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.