House of Representatives

HB 2139

tax credits; public school fees

Sponsors: Rep. May

 

X

Committee on Ways and Means

 

Caucus and COW

 

 

As Passed the House

 

HB 2139 allows persons who claim a credit for public school fees to make a contribution up until April 15th of the following year in which the credit is claimed.

 

History

In 1997, the Legislature allowed a nonrefundable individual income tax credit, in lieu of a deduction, of up to $200 for any fees paid by a taxpayer to a public school for extracurricular activities beginning in tax year 1998.  Beginning with the 2001 tax year, married filing joint filers will be able to donate up to $250 and receive a tax credit.

 

All subtractions, deductions and credits allowed by Arizona must have occurred in the tax year in which the subtraction, deduction or credit is claimed.  This bill will allow contributions to public schools for extracurricular activities to be made on or before April 15th of the following calendar year.  This will have the effect of allowing persons to make public school contributions after December 31st of the tax year in which the claim is made. 

 

Provisions

·                      Provides that a contribution to a public school for extracurricular activities can be claimed, and is deemed to have been made on the last day of the preceding taxable year, if the contribution is made on or before April 15th of the following year.

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·                      44th Legislature                                                                                                                       

·                      Second Regular Session                       2                                                         January 15, 2001

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