SB 384-16_ Filed 02/29/2012, 07:55 Battles


Text Box


    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that Engrossed Senate Bill 384 be amended to read as follows:

    Delete the title and insert the following:
    A BILL FOR AN ACT to amend the Indiana Code concerning education and to make an appropriation.

SOURCE: Page 1, line 1; (12)MO038418.1. -->     Page 1, between the enacting clause and line 1, begin a new paragraph and insert:
SOURCE: IC 6-3-3-11; (12)MO038418.1. -->     "SECTION 1. IC 6-3-3-11 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2012]: Sec. 11. (a) This section applies only to taxable years beginning after December 31, 2012.
    (b) The following definitions apply throughout this section:
        (1) "Qualifying charitable entity" means a charitable organization or educational foundation that is:
            (A) exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code; and
            (B) organized and operated solely for the benefit of a public elementary school or public high school located in Indiana.
        (2) "Public elementary school or public high school" means any combination of grades from kindergarten through grade 12 offered by the following:
            (A) A school corporation subject to IC 20.
            (B) A special education cooperative (as defined in IC 20-35-5-1(7)).
    (c) Each taxable year, a taxpayer who makes a charitable

contribution to a qualifying charitable entity during the taxable year is entitled, at the election of the taxpayer, to a credit against the taxpayer's adjusted gross income tax liability for the taxable year equal to the lesser of:
        (1) fifty percent (50%) of the total amount of charitable contributions made by the taxpayer during the taxable year; or
        (2) the taxpayer's maximum credit amount for the taxable year determined under subsection (d) or (e), as applicable.
    (d) In the case of a taxpayer other than a corporation, the amount allowable as a credit under this section for any taxable year may not exceed:
        (1) one thousand dollars ($1,000) in the case of a single return; or
        (2) two thousand dollars ($2,000) in the case of a joint return.
    (e) In the case of a taxpayer that is a corporation, the amount allowable as a credit under this section for any taxable year may not exceed the greater of the following amounts:
        (1) Ten percent (10%) of the corporation's total adjusted gross income tax liability for the taxable year (as determined after applying all other credits against that tax).
        (2) Ten thousand dollars ($10,000).
    (f) If the credit allowed by this section exceeds the amount of the taxpayer's adjusted gross income tax liability for the taxable year, the excess shall be refunded to the taxpayer. Money is appropriated from the state general fund to make refunds under this section.
".
    Renumber all SECTIONS consecutively.
    (Reference is to ESB 384 as printed February 27, 2012.)

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Representative Battles


MO038418/DI 113     2012