Section 13-65-3 – Limit on tax credits.
13-65-3. Limit on tax credits. Notwithstanding the provisions of §13-65-2, the total amount of tax credits claimed on annual premium tax returns pursuant to this chapter may not exceed three million five hundred thousand dollars in fiscal year 2023 and each year thereafter. Source: SL 2016, ch 102, §3; SL 2022, ch 50, §2.
Section 13-65-1 – Definitions.
13-65-1. Definitions. Terms, as used in this chapter, mean: (1)”Division,” the Division of Insurance in the Department of Labor and Regulation; (2)”Educational scholarship,” a grant to an eligible student to cover all or part of the tuition and fees at a qualifying school. The average value of all scholarships awarded by a scholarship granting organization […]
Section 13-65-2 – Partners in education tax credit program established.
13-65-2. Partners in education tax credit program established. The partners in education tax credit program is hereby established. Through the program, any company that is liable to pay the insurance company premium and annuity tax, pursuant to §10-44-2, may claim credit for contributions made to the scholarship granting organization. The tax credit may be claimed […]