HB 291/FN (BR 1191) - D. Floyd
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; define terms; define limits of tax credits; provide that the Revenue Cabinet promulgate administrative regulations to implement the tax credit program for eligible nonprofit education organizations; create a new section of KRS Chapter 158 to specify that principals may 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.
Jan 10-introduced in House
Jan 11-to Appropriations and Revenue (H)