A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for donations to non-profit scholarship organizations and educational improvement organizations.
America's Communities Leveraging Assets for Students and Schools (America's CLASS) Act of 2006 - Amends the Internal Revenue Code to allow corporations (other than S corporations) a tax credit for 50% of cash contributions of $5,000 or more made to a non-profit scholarship organization or an educational improvement organization. Limits the annual amount of such credit to $75,000.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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