WEST LAFAYETTE, Ind. (WLFI) — People who donate to public schools could get a tax credit if State Senator Ron Alting's bill goes through.
West Lafayette Community School Corporation Superintendent Rocky Killion is a fan of the idea.
Here's how it would work.
During the recession about eight years ago, Senator Ron Alting asked himself, "How can I get additional dollars to these schools?"
That's when Alting helped create a unique foundation. "Before, a foundation was only for athletics," he said.
But this one went directly to academics. Something West Lafayette Schools Superintendent Rocky Killion appreciated.
"We do teacher grants, we've been able to do some capital projects, we did the renovation at the Junior-Senior High School we have done some work at Happy Hollow," said Killion.
This year, Senator Ron Alting hopes to expand these academic foundations, "to give tax credits to individuals that contribute funds to those foundations to our public schools throughout Indiana."
Alting says with more incentives to donate, maybe schools will be able to check off some bucket list items. "Go to update their computers, it could even go to the funds for a specialty teacher," Alting said.
If it goes through, the maximum taxpayer credit would be $1,000 in a single return and $2,000 in a joint return. For corporations, the credit would be the greater of ten percent of the company's total adjusted gross income tax liability or $10,000.
"I think it's a wonderful idea," said Killion.
Killion hopes it will be enough to entice donors. He thanks those who do.
"I've often liked the comment that says it will be a great day where school districts don't have to hold bake sales to get the resources that they need, and the Airforce will have to hold bake sales to buy billion dollar airplanes," said Killion.
The bill will be heard Thursday morning in the appropriations committee.