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HB 1289 IN

Income tax credit for donations.

IN · session 2022 · Assembly / House · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 10, 2022

Latest action (Jan 10, 2022) First reading: referred to Committee on Ways and Means

Summary

Provides for an adjusted gross income tax credit for donations to a public school foundation. Provides that the maximum individual taxpayer credit is $2,000 in the case of a single return and $4,000 in the case of a joint return. Provides that the maximum corporate taxpayer credit is the greater of 10% of the corporation's total adjusted gross income tax liability or $10,000. Makes the credit refundable.

Sponsor (1)

Action history (2)
  1. Jan 10, 2022 Authored by Representative Hamilton · lower
  2. Jan 10, 2022 First reading: referred to Committee on Ways and Means · lower
Subjects
INCOME TAXES, Credits

Text versions (1)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Introduced House Bill (H) · Jan 7, 2022 · PDF

Full text

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