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Bill > SB261

AL SB261

AL SB261
Schools, failing, scholarships for students assigned to in order to attend another public or nonpublic school, income tax credits for contributions to scholarship granting organizations increased, Sec. 16-6D-9 am'd.

summary

Introduced
02/23/2022
In Committee
03/17/2022
Crossed Over
03/15/2022
Passed
04/05/2022
Dead
Signed/Enacted/Adopted
04/05/2022

Introduced Session

Regular Session 2022

Bill Summary

Schools, failing, scholarships for students assigned to in order to attend another public or nonpublic school, income tax credits for contributions to scholarship granting organizations increased, Sec. 16-6D-9 am'd.

AI Summary

This bill amends Section 16-6D-9 of the Code of Alabama 1975 to increase the income tax credit for contributions to scholarship granting organizations from 50% to 100% of the taxpayer's total contributions, up to $100,000 per individual taxpayer or married couple filing jointly. The bill also increases the cumulative annual cap on these tax credits from $25 million to $30 million. The bill sets various administrative, financial, and academic accountability standards for scholarship granting organizations, and gives the Department of Revenue authority to oversee and enforce these standards.

Committee Categories

Budget and Finance, Education

Sponsors (3)

Last Action

Assigned Act No. 2022-390. (on 04/05/2022)
(1 Companion Bills)

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