Corporation Tax Law: credits: K-12 education programs and scholarships.

The Corporation Tax Law allows various credits against the tax imposed by that law. This bill, for taxable years beginning on or after January 1, 2015, and before January 1, 2020, would allow a credit against the tax imposed under that law for monetary contributions to nonprofit organizations to fund qualified scholarships for specified pupils for transportation costs or to attend private schools, as defined, or to fund grants for K-12 education innovative programs relating to science, technology, engineering, and math literacy, and the arts for private, public, and charter schools, as defined. This bill would take effect immediately as a tax levy.