Income and corporation taxes: credit: lending employees to schools.

The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. This bill would, for taxable years beginning on or after January 1, 2010, and before January 1, 2013, allow a credit under both laws in an amount equal to 25% of the amount of qualified expenses paid, not to exceed a specified amount, or incurred in connection with lending a qualified employee to a Title I public school, as defined, for the purpose of assisting in the teaching of mathematics or science, as provided. The bill also would require the Legislative Analyst's Office to submit a report to the Legislature evaluating the credit, as provided. This bill would take effect immediately as a tax levy.