SB 179 (BR 1362) - A. Kerr
AN ACT relating to tax credits to promote educational quality in Kentucky schools.
Create a new section of KRS Chapter 141 to establish an education improvement tax credit program; provide for tax credits to eligible nonprofit education organizations that are organized for the purposes of providing grants, scholarships, and incentives to quality principals to increase the number of teachers in Kentucky, decrease shortages of teachers in critical teaching areas, and provide quality principals to serve in academically low performing schools that have high poverty and high incidence of students classified as nonwhite; define terms; define limits of tax credits; provide that the Revenue Cabinet shall promulgate administrative regulations to implement the tax credit program for eligible nonprofit education organizations; create a new section of KRS Chapter 158 to permit principals to be provided monetary incentives from an eligible nonprofit education organization to accept a position in an academically low performing school; specify the responsibilities of the Kentucky Department of Education; limit the amount of a monetary incentive and exempt it from calculation of teacher' retirement benefits; amend KRS 141.0205 to conform.
Feb 9-introduced in Senate
Feb 14-to Appropriations and Revenue (S)