Organizations that provide technical education services would be eligible for $4.1M pool.There was no dissent voiced Tuesday for a legislative proposal to extend eligibility for a community service tax credit program to organizations that provide youth technical education training and apprenticeships.
State law currently allows individuals and businesses to claim a tax credit for donating to approved community service non-profits. Senate Bill 295 would add technical education organizations to that list.
“In my mind one of the most important things we can do for our young people is get them technical training and teach them the value of entrepreneurship," said Sen. Les Donovan, R-Wichita, chairman of the Senate Assessment and Taxation Committee.
Donovan said the bill has no cost to the state because the community service tax credit pool is capped at $4.13 million.
He asked Chris Harris from the Kansas Department of Commerce how much in demand that money is and Harris said the department receives about $16 million worth of applications in recent years.
Donovan said the technical education groups carved in would have to compete with those already eligible for the dollars.“You just have to kind of get in line and first-come, first-serve is the way it works,” Donovan said.
Harris said his department is for the bill, adding that he believes the projects it has funded such as improvements to critical access hospitals and shelters, have returned $1.44 to their communities for every $1 spent.“The tax credit has been very effective for non-profits across the state,” Harris said.
Source:- cjonline.com
No comments:
Post a Comment