Bill > S4416

This bill, the Educational Choice for Children Act, would amend the Internal Revenue Code to allow a tax credit for individuals and corporations who make charitable contributions to nonprofit organizations that provide education scholarships to eligible elementary and secondary students. The bill establishes requirements for these scholarship granting organizations, including that they prioritize students who previously received a scholarship or have a sibling who received one. The bill also sets a volume cap on the total amount of qualified contributions that can be claimed as credits, allocates portions of that cap to the states and for individual versus corporate contributions, and requires the IRS to develop a real-time tracking system. Additionally, the bill exempts from gross income any scholarship amounts received by eligible students for qualified education expenses and prohibits government control or discrimination against private or religious schools regarding these scholarships.