- Income Tax Credit – Donations to Endowment Funds – Community Foundations and Historically Black Colleges and Universities
- Sponsored by
- Delegates Hixson, Ali, Ebersole, C. Howard, Jalisi, Luedtke, Turner, Walker, M. Washington, Afzali, Hornberger, Mosby, Tarlau, A. Washington, and Wilkins
- In the Senate - Hearing 3/28 at 1:00 p.m.
- Fiscal and Policy Note (Revised)
Increasing from $250,000 to $500,000 the aggregate amount of State income tax credits the Department of Housing and Community Development is authorized to issue in a taxable year for donations to certain qualified permanent endowment funds at certain community foundations; allowing a credit against the State income tax in the amount of 25% of a proposed donation to a qualified endowment fund at an institution of higher education; providing the total amount of tax credit certificates certified may not exceed $250,000; etc.
( 10-736, 10-746 )
Last Updated: 2/3/2020 2:32 PM