IN HB1459

Creates a state income tax credit equal to 50% of charitable contributions made to school corporations, effective for taxable years beginning after December 31, 2013

Limits the credit for individual taxpayers to $100 for single filers and $200 for joint filers

Caps the credit for corporate taxpayers at the lesser of 10% of their adjusted gross income tax liability or $1,000

Credit cannot exceed the taxpayer's total adjusted gross income tax liability after accounting for all other credits