Bill > SB123

This bill establishes an income tax credit for taxpayers who donate to public schools that have received a "D" or "F" grade under the Louisiana School and District Accountability System. The credit will be equal to 95% of the donation amount, and the funds must be used for specific purposes such as purchasing instructional materials, establishing tutorial programs, creating in-school child care programs, and setting up school-based health clinics. Donors must obtain a standardized receipt from the school detailing the donation and its intended use, and must apply for the tax credit electronically between January 1st and the last day of February following the donation year. The total amount of credits granted is capped at $1 million per calendar year, with credits issued on a first-come, first-serve basis. If multiple requests are received on the same day that would exceed the annual cap, credits will be distributed proportionally. The tax credit is only available for donations made to schools with "D" or "F" grades and will expire for taxable periods beginning on or after January 1, 2028. The bill becomes effective on January 1, 2026, and applies to taxable periods starting on or after that date.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB123&sbi=y