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SB 145 IN

Tax credit for charter school contribution.

IN · session 2024 · Senate · bill

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

Introduced Jan 8, 2024

Latest action (Jan 25, 2024) Senator Randolph added as coauthor

Summary

Authorizes the governing body of a charter school to establish a charter school building fund (fund) for the purpose of accepting charitable contributions to be used to fund one or more capital projects of the charter school. Provides an individual adjusted gross income tax credit for contribution to a fund equal to 50% of the aggregate amount of charitable contributions made by the taxpayer during the taxable year. Caps the total amount of tax credits provided at $10,000,000.

Sponsor (1)
1 coauthor / cosponsor

Action history (3)
  1. Jan 8, 2024 Authored by Senator Buchanan · upper
  2. Jan 8, 2024 First reading: referred to Committee on Tax and Fiscal Policy · upper
  3. Jan 25, 2024 Senator Randolph added as coauthor · upper
Subjects
BUSINESS ORGANIZATIONS AND ASSOCIATIONS; Charitable Organizations and NonprofitsSCHOOLS; Charter SchoolsTAXES; Deductions

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 Senate Bill (S) · PDF

Full text

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