57-18 Exhibit - Urging State of New Jersey to Implement Charitable Trust in Lieu of Local Taxes Plan.pdf

State Title  of  Credit Description Amount  of  Credit Statute Alabama Credit  for  contributions   Contributions  to  Scholarship   100%  of  the  total  contributions  up   Ala.  Code  §  16-­‐6D-­‐9. made  to  a  scholarship   Granting  Organizations  (SGOs),   to  50%  of  the  tax  liability  of  the   granting  organization nonprofits  that  provide  private   taxpayer,  not  to  exceed  $50,000;  a   school  scholarships  to  students   taxpayer  may  carry  forward  a  tax   in  need. credit  for  up  to  three  years;   statewide  cumulative  $30  million   per  year. Alabama Credit  for  contributions   Contributions  to  the   50%  of  the  total  contributions  up  to   Ala.  Code  §  16-­‐60-­‐351.     made  to  Career-­‐Technical   Department  of  Postsecondary   50%  of  the  tax  liability  of  the   See  also  definitions  at   Dual  Enrollment  Program Education  for  qualifying   taxpayer,  not  to  exceed  $500,000;  a   Ala.  Code  §  16-­‐60-­‐350. educational  expenses  directly   taxpayer  may  carry  forward  a  tax   associated  with  the  Career-­‐ credit  for  up  to  three  years;   Technical  Dual  Enrollment   statewide  cumulative  $5  million  per   Program,  a  program  for  eligible   year.

 Dual  Enrollment   statewide  cumulative  $5  million  per   Program,  a  program  for  eligible   year. high  school  students  to  enroll  in   college-­‐level  career  technical   education  courses  offered  at   Alabam  Community  College   System  institutions. Alabama Growing  Alabama  Credit Conributions  to  approved  local   100%  (?)  of  the  total  contributions   Ala.  Code  §  40-­‐18-­‐413 economic  development   up  to  50%  of  the  tax  liability  of  the   organizations.    The  Growing   taxpayer;  a  taxpayer  may  carry   Alabama  credit  is  repealed   forward  a  tax  credit  for  up  to  five   following  the  close  of  fiscal  year   years;  statewide  cumulative  $10   2020.  The  repeal  will  not  cause  a   million  per  year.    To  the  extent  that   reduction  or  suspension  of  any   a  Growing  Alabama  credit  is  used  by   credits  awarded  for  years  during   a  taxpayer,  the  taxpayer  will  not  be   which  the  credit  was  in  effect. allowed  any  deduction  which  would   otherwise  been  allowed  for  the   taxpayer's  contribution. Alabama Neighborhood   Voluntary

 the   taxpayer's  contribution. Alabama Neighborhood   Voluntary  assessments  paid   10%  of  the  amount  of  assessment   Ala.  Code  §  11-­‐71-­‐11.   infrastructrue  authority   under  the  Neighborhood   paid,  not  to  exceed  $1,000  in  any  tax    See  also  definitions  at     project  credit Infrastructure  Incentive  Plan  Act   year,  for  a  period  not  exceeding  10   Ala.  Code  §  11-­‐71-­‐2  and   of  2011  for  neighborhood   successive  tax  years. sunset  provision  at  Ala.   infrastructure  projects.    Note   Code  §  11-­‐71-­‐12. that  this  Act  expired  Dec.  31,   2015.    However,  all  local   neighborhood  infrastructure   authorities  created  pursuant  to   the  Act,  in  exisistence  as  of  Dec.   31,  2015,  must  continute  in   existence  until  all  existing   projects  of  the  authority  are   completed  and  the  authority   seeks  dissolution. Arizona Contributions  to   Contributions  to  a  qualifying   Up  to  $400  for  a  single  individual  or   Ariz.  Rev.  Stat.  Ann.  §  43-­‐ qualifying  charitable   charitable  organization  other   head  of  household  or  $800

l  or   Ariz.  Rev.  Stat.  Ann.  §  43-­‐ qualifying  charitable   charitable  organization  other   head  of  household  or  $800  for  a   1088(A) organizations than  a  qualifying  foster  care   married  couple  filing  jointly;  unused   charitable  organization credit  may  be  carried  foward  for  up   to  five  years. Arizona Contributions  to   Contributions  ot  a  qualifying   Up  to  $500  for  a  single  individual  or   Ariz.  Rev.  Stat.  Ann.  §  43-­‐ qualifying  foster  care   foster  care  charitable   head  of  household    or  $1,000  for  a   1088(B) charitable  organizations organization maried  couple  filing  jointly;  unused   credit  may  be  carried  foward  for  up   to  five  years.