Bill > LB670

This bill adopts the Opportunity Scholarships Act and provides tax credits. The key provisions are: - Creates the Opportunity Scholarships Act to enable parents and legal guardians to choose among quality educational opportunities for children, including privately operated elementary and secondary schools in Nebraska. - Allows individual, partnership, limited liability company, corporation, estate, and trust taxpayers to claim a nonrefundable tax credit of up to 50% of their contributions to certified "scholarship-granting organizations" that provide education scholarships to eligible students to attend qualified private schools. - Establishes requirements for scholarship-granting organizations to become certified and remain certified, including limitations on administrative costs and reporting requirements. - Limits the total annual amount of tax credits that can be claimed, with the limit increasing annually if the prior year's credits approached the limit. - Amends the Nebraska Revenue Act of 1967 to allow the tax credits provided in the Opportunity Scholarships Act.