Tax Credit Modifications

SB 315 modifies Utah's tax credit rules for donations to the Carson Smith Opportunity Scholarship Program, directly affecting individuals and businesses that donate to this scholarship initiative. The bill allows donors to claim any portion of their tax credit amount (instead of requiring full use) and permits carrying forward or back unused credit amounts for up to three years. This change makes the tax credit more flexible for donors who cannot fully utilize it in a single tax year. The bill takes effect retroactively for taxable years beginning January 1, 2026, and applies to existing tax credit certificates issued under the program.