STATEHOUSE (Feb. 2, 2018) — A bill that would provide tax credit for education contributions recently passed out of the Senate Committee on Appropriations, said State Sen. Jon Ford (R-Terre Haute).
Senate Bill 235, authored by Ford, would provide for an adjusted gross income tax credit for donations to a public elementary school, secondary school, or school foundation. The maximum individual taxpayer credit would be $100 in the case of a single return or $200 in the case of a joint return.
SB 235 would also provide that the maximum corporate taxpayer credit is the greater of 10 percent of the corporation’s total adjusted gross income tax liability or $1,000.
“Providing a tax credit to those who choose to donate to public schools, it might encourage more people to contribute or give larger donations to these schools,” Ford said. “The contributions help Hoosier students and teachers and could provide them with even more educational opportunities.”
The bill now heads to the full Senate for further consideration.
Contact: Lauren Beatty, Press Secretary