Indiana Senate Bill 126 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 14-1)
Status: Introduced on January 5 2011 - 25% progression, died in committee
Action: 2011-01-24 - Pursuant to Senate Rule 68(b); reassigned to the Committee on Tax and Fiscal Policy.
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [HTML]

Provides for an adjusted gross income tax credit for charitable donations to a charitable organization or educational foundation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and organized and operated solely for the benefit of a public elementary school or public high school located in Indiana. Provides that the maximum individual taxpayer credit is $1,000 in the case of a single return or $2,000 in the case of a joint return. Provides that the maximum corporate taxpayer credit is the greater of 10% of the corporation's total adjusted gross income tax liability or $10,000. Makes the credit refundable. Makes an appropriation.

Public education donation tax credit.

Sen. James Arnold [D]	Sen. Jean Breaux [D]	Sen. John Broden [D]	Sen. Brandt Hershman [R]
Sen. Lindel Hume [D]	Sen. Timothy Lanane [D]	Sen. Frank Mrvan [D]	Sen. Lonnie Randolph [D]
Sen. Lonnie Randolph [D]	Sen. Earline Rogers [D]	Sen. Vi Simpson [D]	Sen. Timothy Skinner [D]
Sen. Karen Tallian [D]	Sen. Greg Taylor [D]	Sen. Richard Young [D]

Date	Chamber	Action
2011-01-24		Pursuant to Senate Rule 68(b); reassigned to the Committee on Tax and Fiscal Policy.
2011-01-18		Senators Arnold, Breaux, Broden, Hume, Lanane, Mrvan, Rogers, Skinner, Taylor, Tallian and R. Young added as coauthors
2011-01-10		Senator Randolph added as coauthor
2011-01-10		Senator Hershman added as second author
2011-01-10		Senator Randolph removed as second author
2011-01-05		First reading: referred to Committee on Appropriations
2011-01-05		Authored by Senators Simpson and Randolph

Type	Source
Summary	http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2011&session=1&request=getBill&doctype=SB&docno=0126
Text	http://www.in.gov/legislative/bills/2011/IN/IN0126.1.html