From official state and federal legislative records. Informational only, not legal advice.
Just proposed
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Next: a committee studies it and decides if it moves forward.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
Tax credit for public school foundation. Provides a 25% state tax credit for contributions made to a public school foundation for taxable years beginning after December 31, 2025, and before January 1, 2028. Provides that the amount allowable as a credit in a taxable year may not exceed: (1) $1,000 in the case of an individual filing a single return or a corporation; or (2) $2,000 in the case of a married couple filing a joint return. Provides that the maximum amount of credits that may be awarded in a state fiscal year may not exceed $1,000,000.