View Amendment Current Amendment: 1a to Bill 3596

Reps. ELLIOTT and HERBKERSMAN propose the following Amendment No. 1a to H. 3596 (COUNCIL\DG\3596C009.NBD.DG20):

Reference is to Printer's Date 9/16/20-S.

Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:

/SECTION __.A. Section 12-6-3790( B)(4) of the 1976 Code is amended to read:

"(4) In concert with the public charity directors, the department shall administer the public charity including, but not limited to, the keeping of records, the management of accounts, and disbursement of the grants awarded pursuant to this section. The public charity may expend up to two five percent of the fund for administration and related costs. The department and the public charity may not expend public funds to administer the program. Information contained in or produced from a tax return, document, or magnetically or electronically stored data utilized by the Department of Revenue or the public charity in the exercise of its duties as provided in this section must remain confidential and is exempt from disclosure pursuant to the Freedom of Information Act. Personally identifiable information, as described in the Family Educational Rights and Privacy Act and individual health records, or the medical or wellness needs of children applying for or receiving grants must remain confidential and is not subject to disclosure pursuant to the Freedom of Information Act."

B.Section 12-6-3790(D)(1)(a) of the 1976 Code is amended to read:

"(D)(1)(a) Tax credits authorized by subsection (H)(1) and subsection (I) annually may not exceed cumulatively a total of twelve million dollars for contributions to the Educational Credit for Exceptional Needs Children's Fund, unless an increased limit is authorized in the annual general appropriations act. However, the fund may carry forward up to five million dollars into the next year to provide credits in the next year. This carryforward amount does not in any way increase the cumulative tax credit amount set forth in this item for any one year."

C. Section 12-6-3790(D)(2)(b) of the 1976 Code is amended to read:

"(b) A taxpayer may not claim more than sixty seventy-five percent of his total tax liability for the year in contribution toward the tax credit authorized by subsection (H)(1) or subsection (I). This credit is nonrefundable. If the amount of the credit exceeds the taxpayer's income tax liability for that taxable year, the taxpayer may carry forward the excess for up to three years."

D.This SECTION takes effect upon approval by the Governor and first applies to tax years beginning after 2019, including the cumulative totals. /