US Congress Senate Bill 148 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 17 2017 - 25% progression, died in committee
Action: 2017-01-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Educational Opportunities Act This bill amends the Internal Revenue Code to allow individual taxpayers a tax credit for charitable contributions to a scholarship granting organization. The bill allows a maximum credit amount of $4,500 ($2,250 for a married individual filing a separate return). A "scholarship granting organization" is a tax-exempt entity whose exclusive purpose is to provide scholarships for the tuition and other education expenses of elementary and secondary school students from low income households (i.e., household income not exceeding 250% of federal poverty guidelines). The bill allows corporate taxpayers a tax credit, up to $100,000, for contributions to a scholarship granting organization. It also imposes a penalty on scholarship granting organizations that fail to distribute at least 90% of their total receipts for elementary and secondary school expenses in a taxable year.

Educational Opportunities Act

Sen. Marco Rubio [R-FL]

Date	Chamber	Action
2017-01-17	Senate	Read twice and referred to the Committee on Finance.

HB895 (Related) 2017-02-06 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/148/all-info
Text	https://www.congress.gov/115/bills/s148/BILLS-115s148is.pdf