H.R. 1511 · 114th Congress
Educational Opportunities Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RokitaSponsor3 cosponsors · 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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).
What it does: CRS summary · 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Educational Opportunities Act
Latest action (Nov 16, 2015): Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Policy area: Taxation · Origin: House · Introduced: Mar 19, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.