Sec. 3. Credits for certain contributions benefitting science, technology, engineering, and mathematics education at the elementary and secondary school level
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Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business related credits) is amended by adding at the end the following new section: For purposes of section 38, the elementary and secondary school STEM contributions credit determined under this section for the taxable year is an amount equal to the qualified STEM contributions made by the taxpayer during the taxable year to one or more elementary or secondary schools. The amount of qualified STEM contributions made to any school which may be taken into account under this section by the taxpayer for the taxable year shall not exceed the portion of the limitation under paragraph
(2)which is allocated by such school to the taxpayer for such year. The amount of qualified STEM contributions made to any school which may be allocated under this section by the school to all taxpayers for all taxable years shall not exceed $100,000. For purposes of this section— The term qualified STEM contributions means— STEM property contributions, STEM service contributions, and STEM student and educator training contributions. The term STEM property contribution means the amount which would (but for subsection (d)) be allowed as a deduction under section 170 for a charitable contribution of STEM property if— the donee is an elementary or secondary school, substantially all of the use of the property by the donee is within the United States for STEM education in any of the grades K–12 for use during the school day or in after-school programs, the original use of the property begins with the donee, the property will fit productively into the donee’s education plan, the property is not transferred by the donee in exchange for money, other property, or services, except for shipping, installation and transfer costs, and the donee’s use and disposition of the property will be in accordance with the provisions of clauses
(ii)through (v). The term STEM property means— computer equipment and software, microscopes, lab equipment, including glassware, digital scales, and temperature measuring devices, property used to maintain, renovate, or improve laboratory facilities, STEM education curricula, and whiteboards, smartboards, cameras, and other relevant STEM education materials. The term STEM service contributions means the amount paid or incurred during the taxable year to provide STEM services in the United States for the exclusive benefit of students at an elementary or secondary school but only if no charge is imposed for providing such services. The term STEM services means— providing students the opportunity to engage in hands-on technical equipment training in a STEM education field, and bringing experts in a STEM education field into the classroom or after school programs for demonstrations, talks, or mentoring exercises. The term STEM student and educator training contributions means the amount paid or incurred during the taxable year to provide STEM student and educator training services in the United States for the exclusive benefit of students at an elementary or secondary school but only if no charge is imposed for providing such services. The term STEM student and educator training services means— on-site technical equipment training in a STEM education field, field trips to research or related facilities in a STEM education field, student internships or long term on-site training in a STEM education field, and educator training exercises in a STEM education field. The term STEM education means education in the biological sciences, mathematics, earth and physical sciences, computer and information science, engineering, geosciences, and social and behavioral sciences. The term elementary or secondary school means any school which provides elementary education or secondary education (kindergarten through grade 12), as determined under State law. Such term includes consortia or other groupings of such schools if all such schools in the consortia or grouping are located within the same State. No deduction shall be allowed under this chapter for any amount allowed as a credit under this section. . Section 38(b) of such Code is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph (36), and inserting , plus , and by adding at the end the following new paragraph: the elementary and secondary school STEM contributions credit determined under section 45S. . The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45S. Contributions benefitting science, technology, engineering, and mathematics education at the elementary and secondary school level. . The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.