Authorizes personal income taxpayers to make a gift to the school district they reside in

Authorizes personal income taxpayers to make a gift to excellence in public school education whereby the gift is dedicated to the school district in which the taxpayer resides; such monies shall be deposited into the account for the district for which the gift is intended; monies shall be paid to school districts on July 1 for the school year commencing in the succeeding calendar year, and shall reduce the school taxes of each taxpayer making such a gift.