SB123 Alabama 2017 Session

Summary

Primary Sponsor

Del Marsh

Republican

Session

Regular Session 2017

Title

Accountability Act of 2013, cap on income tax credits increased, credit against utility gross receipts tax liability for donations to scholarship granting organizations created, audits of scholarship granting entities required, Secs. 16-6D-3, 16-6D-4, 16-6D-6, 16-6D-8, 16-6D-9 am'd.

Description

This bill would amend the Alabama Accountability Act of 2013.

This bill would provide further for definitions.

This bill would make income tax credits available to trusts and estates.

This bill would increase the cap on income tax credits for donations to scholarship granting organizations.

This bill would create a credit against utility gross receipts tax liability for donations to scholarship granting organizations.

This bill would establish procedures for claiming a credit against the utility gross receipts tax.

This bill would authorize scholarship granting organizations to assist eligible students with qualifying expenses.

This bill would also require scholarship granting organizations to obtain audited financial statements annually and would require the Department of Revenue, or its agent, to perform an audit of each scholarship granting organization at least triennially.

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Subjects

Education