AZ SB1102

Establishes the Public School Innovation Project Program to fund innovative education projects in public schools through competitive grants, administered by the Department of Education with a seven-member selection committee.

Creates tax credits allowing individuals to claim up to $500 (single) or $1,000 (married filing jointly) and corporations/insurers to claim contributions made to the Public School Innovation Project Fund, with a combined aggregate limit of $5,000,000 per fiscal year.

Requires pre-approval from the Department of Revenue before contributions can be made and claimed, with contributions needing to be made within 20 days of pre-approval notification.

Establishes the Public School Innovation Project Fund to receive contributions and distribute grant monies, with the Department of Education able to use up to 10 percent for administrative costs and required to submit quarterly and annual reports.

All program provisions, tax credits, and related statutes expire on June 30, 2024, making this a temporary five-year program.