The Alabama State Senators have approved a bill that will revise the Alabama Accountability Act.
The Alabama Accountability Act is a thirty-million dollar program was implemented in 2013. It is the nation’s first refundable tax credit for educational expenses. The act provides state income tax credits for donations to scholarship granting organizations.
The proposal for the revisions of the act resulted from a drop in donations. The revisions will provide expanded options for tax credits for donors to the scholarship program. This was changed to ensure students who receive scholarships from the act will not lose them later due to funding.
State Senators narrowly approved the bill today by a vote of seventeen to fifteen, and will now move to the House.