This bill changes the tax code to let people and organizations claim a charitable deduction for letting community learning centers use certain property. It covers the use of real property (and related tangible personal property) when the use is tied to the center's educational purpose, and it covers motor vehicles used to transport children to and from a community learning center. The bill says the deduction amount is the fair market rental value of the donated use. It also says subsections (e)(1) and (f)(3)(A) of section 170 will not apply to these contributions. The term "community learning center" refers to organizations described in subsection (c) that meet the definition in section 4201(b) of the Elementary and Secondary Education Act of 1965. The change applies to taxable years beginning after the date the bill is enacted.
If you own a building, space, equipment tied to a building, or a vehicle and you let an eligible community learning center use it for education or to transport students, you may be able to claim a charitable tax deduction equal to the rental value of that use. Eligible centers are those that fit the definition in the Elementary and Secondary Education Act. The deduction rule starts applying for tax years that begin after the bill becomes law.
No publicly available information on federal revenue effects or budgetary costs. The bill sets the deduction amount at the fair market rental value of the donated use but does not include a cost estimate in the text provided.
Supporters describe the change as creating a tax deduction for the donated use of property and vehicles by community learning centers, measured by fair market rental value. The bill title indicates the goal is to increase afterschool access through charitable contributions of space and transportation for enrichment and student support.
No publicly available information.