Afterschool ACCESS Act

Key Points

• Congress is considering a bill that would allow businesses and individuals to claim a tax deduction when they let afterschool programs use their property for free. Currently, tax laws usually only allow deductions if you give property away entirely, but this change would reward people for simply sharing their space or equipment.
• The policy specifically helps 'community learning centers,' which are programs that provide students with extra academic help and activities outside of school hours. By offering a tax break, the bill aims to make it easier for these programs to find safe places to meet and ways to get kids to their activities.
• Property owners could deduct the 'fair market rental value' of their property. This means if a business lets a tutoring program use an office for free, they can subtract the amount they would have normally charged for rent from their taxable income.
• The deduction covers three main things: the use of buildings or land, the use of equipment or furniture inside those buildings, and the use of vehicles like vans or buses to drive children to and from the afterschool programs.
• If passed, this would apply to any property used for educational purposes starting in the first tax year after the bill becomes law. This could encourage more local businesses and community members to support student programs by lowering the financial cost of helping out.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.