Educational Opportunities Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 19, 2015)
Educational Opportunities Act
Amends the Internal Revenue Code to allow individual taxpayers a tax credit for charitable contributions to a scholarship granting organization. Allows a maximum credit amount of $4,500 ($2,250 for a married individual filing a separate return). Defines "scholarship granting organization" as a tax-exempt entity whose exclusive purpose is to provide scholarships for the tuition and other expenses of elementary and secondary school students from low income households (i.e., household income not exceeding 250% of federal poverty guidelines).
Allows corporate taxpayers a tax credit, up to $100,000, for contributions to a scholarship granting organization.
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.
What just happenedNov 16, 2015
Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Who’s behind it
- Introduced in HouseMar 19, 2015
- Nov 16, 2015Committee
Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Early Childhood, Elementary, and Secondary Education Subcommittee - Mar 19, 2015IntroReferralH11100
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.
Education and the Workforce Committee - Mar 19, 2015IntroReferralH11100-A
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.
- Mar 19, 2015IntroReferralH11100
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.
Ways and Means Committee - Mar 19, 2015IntroReferralIntro-H
Introduced in House
- Mar 19, 2015IntroReferral1000
Introduced in House