HB 1524 -- Taxation:  Credit for Gifts to Schools

Co-Sponsors:  Patek, Shields, Scott, Tudor, Gibbons, Naeger

This bill authorizes a tax credit to taxpayers who donate high
technology equipment to schools or who donate cash or marketable
securities to schools for the purpose of purchasing high
technology equipment.  The tax credit will be up to $200 per
year.

The credit may be taken against income tax, corporate franchise
tax, insurance tax, financial institutions tax, or express
companies tax.  Any credit which exceeds the taxpayer's
liability will not be refunded but may be carried over to 4
future tax years.

The credit will apply to tax year 2000 and thereafter.