Educational Opportunities Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 21, 2013)
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 happenedJul 8, 2013
Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Who’s behind it
- Introduced in HouseMar 21, 2013
- Jul 8, 2013Committee
Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
- Mar 21, 2013IntroReferralH11100
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 21, 2013IntroReferralH11100
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 21, 2013IntroReferralIntro-H
Introduced in House
- Mar 21, 2013IntroReferral1000
Introduced in House