HB 562 -- Income Tax Credit for Donations to Schools

Co-Sponsors:  Gambaro, Davis (63)

This bill 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.