H.R.4834 - Businesses Supporting Education Act of 2006109th Congress (2005-2006)
|Sponsor:||Rep. English, Phil [R-PA-3] (Introduced 03/01/2006)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 03/01/2006 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4834 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (03/01/2006)
Businesses Supporting Education Act of 2006 - Amends the Internal Revenue Code to allow business entities a tax credit for contributions to a tax-exempt education scholarship organization which provides scholarships to elementary or secondary school students from low or moderate income families. Limits the annual amount of such credit to $100,000.
Imposes a penalty tax on education scholarship organizations that fail to make required distributions of scholarship funds.