HB1904: Taxation; authorize income tax, insurance premium tax and ad valorem tax credit for contributions to student scholarship organizations.

Legislative Summary

An Act Authorize An Income Tax Credit, Insurance Premium Tax Credit And Ad Valorem Tax Credit For Voluntary Cash Contributions By Taxpayers To Student Scholarship Organizations; To Define The Term "student Scholarship Organization" And Other Terms For The Purposes Of This Act; To Limit The Amount Of The Tax Credit; To Provide That Unused Portions Of A Tax Credit May Be Carried Forward For Five Consecutive Years From The Close Of The Tax Year In Which The Credit Was Earned; To Provide The Criteria That An Organization Must Meet In Order For A Contribution To The Organization To Qualify For A Tax Credit Authorized By This Act; And For Related Purposes.