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2013 SESSION

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SB 749 Income tax, state; tax credits for donations to STEM programs at qualified schools.

Introduced by: William M. Stanley, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Tax credits for donations to science, technology, engineering, or math (STEM) educational programs at qualified schools. Establishes a tax credit beginning in taxable year 2014 through taxable year 2018 for donations made to STEM organizations. The tax-credit-derived funds must be used by the STEM organization to support STEM education at public schools in the Commonwealth with a high concentration of students eligible for free or reduced lunch. The credit would equal 65 percent of the donation made by the taxpayer and may be carried forward for five years. The program would have a cap of $25 million per year. The Department of Education would administer the program.


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