HB576 Alabama 2015 Session

Sponsors

Session

Regular Session 2015

Title

Tax credits, for businesses and individuals who donate to schools for certain equipment

Description

<p class="bill_description"> This bill would provide an annual tax credit of up to 50 percent of the tax liability of an individual or business who donates to a nonprofit organization that provides grants to a school to support digital learning through the use of technology to increase student academic performance, subject to certain annual maximum amounts</p><p class="bill_description"> This bill would require the Department of Revenue to establish a procedure to approve the formation of a nonprofit organization that provides digital learning grants for a school to improve learning with technology</p><p class="bill_description"> This bill would provide that the grants may be used to purchase technology devices, improve infrastructure, strengthen wireless connectivity, or improve instructional practices with technology</p><p class="bill_description"> This bill would provide that a grant funding request shall require a 50 percent match by the requesting organization in cash or other form of negotiable instrument</p><p class="bill_description"> This bill would provide that a nonprofit organization, to remain eligible, shall expend 98 percent of its funds on sub-grants, and have an established record of administering funds throughout the state</p><p class="bill_description"> This bill would provide that the Department of Revenue may adopt rules regarding the implementation and administration of this act</p><p class="bill_entitled_an_act"> Relating to tax credits; to provide a tax credit equal to 50 percent of the donation up to 50 percent of the tax liability of an individual or business who donates to a nonprofit organization that provides grants to a school to support digital learning through the use of technology to increase student academic performance; to require the Department of Revenue to establish a procedure to approve the formation of a nonprofit organization that provides digital learning grants for a school to improve learning with technology; to provide that the grants may be used to purchase technology devices, improve infrastructure, strengthen wireless connectivity, or improve instructional practices with technology; to provide that a grant funding request shall require a 50 percent match by the requesting organization in cash or other form of negotiable instrument; to provide that a nonprofit organization, to remain eligible, shall expend 98 percent of its funds on sub-grants, and have a record of administering funds throughout the state; and to provide that the Department of Revenue may adopt rules regarding the implementation and administration of this act. </p>

Subjects

Tax Credits