|SB 0899||Expands state tax credit for contributions to authorized dropout abatement pilot programs|
|LR Number:||3757S.01I||Fiscal Note:||3757-01|
|Committee:||Ways and Means|
|Last Action:||03/12/02 - Hearing Scheduled But Not Heard S Ways & Means||Journal page:|
|Effective Date:||August 28, 2002|
SB 899 - This act expands the tax credit for sponsorship and mentoring programs to include a business dropout abatement pilot program. This program allows businesses to support educational efforts and work related programs for "at risk" students. The amount which may be claimed by a single taxpayer is limited to the lesser of $5,000 per eligible student or the amount of net expenditures which the taxpayer makes for a student's participation in the program.
The Department of Elementary & Secondary Education shall establish rules, guidelines and criteria for approved programs. The programs are to be established by school districts and businesses.
This act is similar to SB 574 (2001).