US Congress Senate Bill 809 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on March 19 2015 - 25% progression, died in committee
Action: 2015-03-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

Educational Opportunities Act

Sen. Marco Rubio [R-FL]

Date	Chamber	Action
2015-03-19	Senate	Read twice and referred to the Committee on Finance.

HB1511 (Same As) 2015-11-16 - Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/809/all-info
Text	https://www.congress.gov/114/bills/s809/BILLS-114s809is.pdf