SB 0574 Authorizes state tax credit for contribution to authorized dropout abatement programs
LR Number:1595S.02C Fiscal Note:1595-02
Last Action:03/26/01 - Removed from S Consent Calendar Journal page:S544
Title:SCS SB 574
Effective Date:August 28, 2001
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Current Bill Summary

SCS/SB 574 - This act authorizes a state tax credit for contributions to authorized business dropout abatement pilot programs approved by the Department of Elementary and Secondary Education.

The credit may be claimed in an amount equal to the taxpayer's contribution to a dropout abatement pilot program, but shall not exceed five thousand dollars per pupil for whom a contribution is made. The credit is not refundable but may be carried over for up to four succeeding taxable years. Participating businesses may receive no more than seven hundred fifty thousand dollars in tax credits in any fiscal year.

The Department of Elementary and Secondary Education shall establish rules for approval of dropout abatement pilot programs and determining eligibility of "at-risk" students for participation in the program. The Department of Elementary and Secondary Education shall select several school districts for participation in pilot programs representing various regions of the state and emphasizing districts with high dropout rates.

A local school board may seek approval from the Department to establish a dropout abatement pilot program. A principal of a school in a district with an approved program may recommend the participation of students not meeting the definition of "at-risk" and the school board may submit the names and justifying circumstances to the Department for approval of those students for participation.

The Department of Elementary and Secondary Education shall provide written notice to the Department of Revenue of each eligible student participating in an approved dropout abatement pilot program along with other specified information.