SUMMARY: LC 33 6861

Relates to the imposition, rate, computation and exemptions from state income taxes. Would provide for certain unapproved and unused tax credits to be carried forward to the next taxable year. The amount of tax credits allowed will not exceed $58 million per tax year. Tax credit would be allowed on a first come, first served basis.  Student scholarship organizations would be required to make potential donors aware of the requirements in Code 48-7-29.16.

EFFECTIVE DATE: July 1, 2017