This bill would amend the Alabama Accountability Act of 2013 to remove the current $7,500 annual limitation on contributions made to scholarship granting organizations by individual taxpayers.
This bill would allow certain pass-through entities, such as subchapter S corporations and limited liability companies, to make contributions to scholarship granting organizations and to allow the credit earned by the entity to pass through to and be claimed by its owners, and to likewise expand the definition of individual taxpayer to include the individual owners of these pass-through entities.
This bill would amend the release date for unaccounted scholarship funds from September 15 to May 15 of each year.
This bill would also amend the reporting period for scholarship granting organizations from a calendar year to a school year.
Pending third reading on day 29 Favorable from Fiscal Responsibility and Accountability
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Fiscal Responsibility and Accountability
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 882
Motion to Adopt adopted Roll Call 881
Hammon motion to Previous Question adopted Roll Call 880
Education Policy Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar 1 amendment
HB558 rereferred from WME to EP
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
Source: Alabama Legislature