Workforce Education Tax Credit

Where it is in the process

Plain-English Summary

This bill creates a new corporate income tax credit for businesses that donate money to public colleges or school districts for workforce education programs. Businesses can claim a credit equal to 75% of their donation, up to $750,000, for taxable years before January 1, 2029. The state will approve a total of $5 million in credits each year, and these credits can be sold or transferred to other businesses.

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