Plain English Breakdown
The provided bill text excerpt is a PDF file header containing binary data, so no specific dollar amounts or dates could be extracted from it.
HB328: Increasing Tax Credit Limits for Student Scholarship Contributions
This law increases the total yearly limit on tax credits available to people who donate money to student scholarship organizations and gives donors more time after preapproval to make those donations.
What This Bill Does
- Increases the annual aggregate limit for tax credits given for certain contributions to student scholarship organizations.
- Increases the amount of time allowed after being preapproved to make these contributions.
Terms To Know
- Annual aggregate limit
- The maximum total amount of tax credits available in one year for qualifying donations.
- Student scholarship organizations
- Groups that receive contributions to provide scholarships, as referenced by the bill's title and summary.
Limits and Unknowns
- The official text does not state the specific dollar amounts for the new limits.
- The exact number of days or months added to the contribution deadline is not specified in the provided summary.
- Details on how preapproval works are not included in the source material.