Secretary of State No.
INCOME TAX--EDUCATIONAL EXPENSES CREDIT--INITIATIVE CONSTITUTIONAL AMENDMENT. Provides a state income tax credit for taxpayers who pay educational expenses on behalf of California residents attending, full time, public or private schools providing instruction at the kindergarten through high school levels or institutions of higher learning where admission is conditioned upon a high school degree or equivalent. Limits credit to $1,200 per student for tax years ending on or before December 31, 1981, with provisions for annual increases thereafter. Prohibits state from imposing on educational institutions more restrictive requirements under Compulsory Education Law than those in effect June 1, 1979. Financial impact: Reduction of state income tax revenues by unknown but substantial amount (at least $400 million annually beginning in fiscal year 1981-82); undeterminable net impact on state and local instructional costs.
Mr. William D. Burt Director, Western Office National Taxpayers Union, 221 West Carrillo Street, Santa Barbara, Ca 93101 (805) 966-1377
Failed to Qualify
Income Tax--Educational Expenses Credit California Initiative 205 (1979).