Legislature(2013 - 2014)BELTZ 105 (TSBldg)
04/10/2013 08:00 AM Senate EDUCATION
| Audio | Topic |
|---|---|
| Start | |
| SB91 | |
| SB89 | |
| SB100 | |
| HB154 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | SB 91 | TELECONFERENCED | |
| *+ | SB 89 | TELECONFERENCED | |
| *+ | SB 100 | TELECONFERENCED | |
| + | HB 154 | TELECONFERENCED | |
SB 89-TAX CREDITS FOR EDUCATIONAL CONTRIBUTIONS
8:22:00 AM
CHAIR STEVENS announced that the next order of business would be
SB 89.
SENATOR DUNLEAVY, sponsor, introduced SB 89. He related that the
bill amends current tax credits for educational contributions to
allow for elementary and secondary profit, non-profit, and
religious schools in Alaska. He referred to a list of current
eligible tax credits. The purpose for the tax credit changes is
to allow for tax credits for educational contributions from
parents whose children attend private and religious schools. The
tax credit would go to the agency or organization.
8:24:11 AM
SENATOR GARDNER asked if tuition provides a tax credit for the
school.
SENATOR DUNLEAVY said no. He explained that the businesses and
corporations that wish to give money to religious or private
schools could receive a tax credit.
SENATOR GARDNER asked if current law already provides tax
deductions for charitable giving to non-profits.
SENATOR DUNLEAVY replied that charitable giving is currently
deductible at the federal level; the proposed tax credit would
occur on the state level.
8:26:14 AM
SENATOR GARDNER asked about raising the tax credit limit from $5
million to $25 million. She wondered how many tax payers reach
the $25 million limit.
SENATOR DUNLEAVY replied that he did not have those figures.
SENATOR GARDNER inquired if tax payers might want to exceed the
$5 million limit.
SENATOR DUNLEAVY said it is his hope that charitable giving
would increase.
CHAIR STEVENS suggested that the Department of Revenue address
the question.
8:27:11 AM
JOHANNA BALES, Deputy Director, Tax Division, Department of
Revenue (DOR), answered questions related to SB 89. She said she
has not seen a single tax payer claim the $5 million tax credit
for charitable giving. In 2012, the first full year of the $5
million maximum tax credit, 40 tax payers took an education tax
credit for a total of $6.8 million.
SENATOR GARDNER requested clarification about those numbers.
MS. BALES explained that there are six tax programs that qualify
for the credit. She reiterated that 40 tax payers, in total, for
all six programs, took $6.8 million worth of credits, all within
the education category.
8:28:58 AM
CHAIR STEVENS held SB 89 in committee for further review.