To amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing education scholarships to qualified elementary and secondary students.
Summary
What This Bill Does
The bill creates tax credit for contributions to scholarship granting organizations Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25E the following, creates qualified elementary and secondary education scholarships In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to, and creates 45AA. Contributions to scholarship granting organizations. It relies on grants, compliance mandates, definition changes, and tax credits. The main policy areas are Education, Environment, Finance, and Housing.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk, Educational institutions and students affected by the bill could face lower compliance burdens, and Lobbyists, political organizations, and disclosure users affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Educational institutions and students affected by the bill would take on compliance duties, and Public beneficiaries or protected communities affected by the clause could face increased risk.
Key Provisions
- Creates tax credit for contributions to scholarship granting organizations Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25E the following...
- Creates qualified elementary and secondary education scholarships In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to...
- Creates 45AA. Contributions to scholarship granting organizations.
- Creates failure to distribute receipts In the case of any scholarship granting organization (as defined in section 25F) which has been determined by the Secretary to have failed to satisfy the requirement under...
- Requires volume cap For purposes of sections 25F(g) and 45AA(e) of the Internal Revenue Code of 1986 (as added by this Act), the volume cap applicable with respect to both such sections (in the aggregate) shall be...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates tax credit for contributions to scholarship granting organizations Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25E the following, creates qualified elementary and secondary education scholarships In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to, and creates 45AA. Contributions to scholarship granting organizations.
Key Policy Areas
Education, Environment, Finance, Housing
Primary Purpose
The bill creates tax credit for contributions to scholarship granting organizations Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25E the following, creates qualified elementary and secondary education scholarships In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to, and creates 45AA. Contributions to scholarship granting organizations.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
- Educational institutions and students affected by the bill
- Lobbyists, political organizations, and disclosure users affected by the bill
- Financial services firms and customers affected by the bill
- Environmental and public health interests affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Educational institutions and students affected by the bill
- Public beneficiaries or protected communities affected by the clause
- Homeowners, tenants, or housing market participants affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Smith of Nebraska (for himself, Mr. Owens, Mr. Kelly …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
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