Read twice and referred to the Committee on Finance.
Why This Matters
This bill creates tax credits for people who donate to organizations that provide scholarships for students. It encourages more private donations to help students afford education.
If you donate to eligible scholarship organizations, you can receive a tax credit worth up to 10 percent of your income.
Who this affects
individual taxpayers · students seeking scholarships
What changes is this bill making?
1Individuals can receive tax credits for donating to scholarship organizations.
2The credit for individuals is capped at 10 percent of their adjusted gross income.
3Eligible organizations must provide scholarships for elementary and secondary education.
4The bill aims to increase funding for education by encouraging private contributions.
5Students from low-income families or tribal backgrounds can benefit from these scholarships.
