Alabama Governor Signs Law Amending Income Tax Credits for Transferring Students Under Alabama Accountability Act

The Alabama Governor June 8 signed a law amending individual income and corporate income tax credits for parents transferring students from priority public schools to qualifying public schools under the Alabama Accountability Act. The law includes measures: 1) increasing the cumulative amount of tax credits to $40 million per year from $30 million per year, beginning in fiscal year 2025; 2) providing that the cap would increase by $10 million if the credits exceed 90 percent of the cap in three out of four years; 3) limiting the educational scholarship amount available to an eligible student in an academic year ...