Bill > LB1202

This bill adopts the Opportunity Scholarships Act and provides for tax credits. The key provisions are: - It establishes the Opportunity Scholarships Act, which provides education scholarships for eligible students, defined as Nebraska residents who are from low-income households or in foster/out-of-home care, to attend qualified private non-profit schools. - It allows individual, corporate, and other taxpayers to claim tax credits for contributions made to scholarship-granting organizations that provide the education scholarships. The tax credits are generally limited to 50% of the taxpayer's income tax liability. - It requires scholarship-granting organizations to allocate at least 90% of their revenue to education scholarships, with no more than 10% used for administrative costs. - It provides oversight and reporting requirements for the scholarship-granting organizations. - It specifies that the act does not grant the state any additional authority to control or influence the governance or policies of the qualified private schools.