This bill helps individuals get tax credits for donating to organizations that provide scholarships for students. It aims to make education more accessible by encouraging charitable contributions.
If you donate to a scholarship organization, you could lower your tax bill significantly.
Who this affects
Donors to scholarship organizations · Families with students in need
What changes is this bill making?
1This bill allows individuals to receive a tax credit for donations to nonprofit organizations that provide education scholarships.
2The credit can be up to 10% of a person's income or $5,000, whichever is greater.
3Donations must be made to organizations that help students pay for school expenses.
4Eligible expenses include tuition, books, and educational materials for public and private schools.
5The bill sets limits on how much credit can be claimed based on state regulations.
