Bill Sponsor
Senate Bill 447
117th Congress(2021-2022)
Educational Opportunities Act
Introduced
Introduced
Introduced in Senate on Feb 25, 2021
Overview
Text
Introduced
Feb 25, 2021
Latest Action
Feb 25, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
447
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Republican
Florida
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Educational Opportunities Act

This bill allows 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.

Text (1)
February 25, 2021
Actions (2)
02/25/2021
Read twice and referred to the Committee on Finance.
02/25/2021
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:46:31 PM