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Committee advances refundable tax credit to encourage donations to public schools

3138985 · April 28, 2025

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Summary

Senate Bill 123, allowing refundable tax credits for donations to qualifying public (DIF) schools with a $10 million annual cap, was reported favorable by the committee.

Senate Bill 123, a proposal to give refundable tax credits to donors who contribute to qualifying public schools in the Distressed/Incentivized/Fix (DIF) category, was reported favorable by the City Senate Committee on Revenue and Fiscal Affairs on April 28.

Senator Bowie, presenting the bill in committee, said it is intended to "allow persons to make a donation and receive a tax credit for any school that's a DIF school," encouraging alumni and local communities to support schools that are flagged for additional assistance.

The measure retains an annual statewide cap of $10,000,000 embedded in prior committee action. The bill was dual‑referred in the fiscal note and would require finance committee consideration for budget impact if it advances.

There was no opposition testimony recorded in committee and members registered no objections when Senator Bowie moved to report the bill favorable. The bill will move on to the next committee with the $10 million cap in place for consideration during the appropriations phase.