ND HB1384

Increases the maximum annual income tax credit for charitable contributions to nonprofit private higher education institutions in North Dakota from 20% to 25% of total income tax liability, or $2,500, whichever is less.

Increases the maximum annual income tax credit for charitable contributions to nonprofit private secondary education institutions in North Dakota from 20% to 25% of total income tax liability, or $2,500, whichever is less.

Increases the maximum annual income tax credit for charitable contributions to nonprofit private primary education institutions in North Dakota from 20% to 25% of total income tax liability, or $2,500, whichever is less.

All three tax credits remain nonrefundable and equal to 50% of the aggregate charitable contributions made during the year to eligible institutions.

The amendments are effective for the first two taxable years beginning after December 31, 2018, after which the Act expires.