CARSON CITY, Nev. (AP) — Gov. Brian Sandoval wants to give businesses a break on payroll taxes for donating money to fund school choice scholarships.
SB445 was presented earlier in the session the Senate Revenue Committee, which took no action. Instead the bill was referred to the Senate Finance Committee. A hearing is scheduled Monday.
Businesses that donate to scholarship organizations would receive a dollar-for-dollar tax credit applied to their modified business tax liabilities.
Total tax breaks for the program would be capped at $5 million a year, though businesses could carry over available tax credits for five years.
The state teachers’ union and Nevada Association of School Boards are opposed to the bill.
In 2011 Sandoval unsuccessfully sought to establish a school voucher program, which would require a constitutional amendment.
Copyright 2013 The Associated Press.