Bill > HB193

This bill establishes a program where authorized "school tuition organizations" (nonprofit organizations that provide scholarships for private school tuition) can award educational scholarships to eligible low-income students to attend private schools of their parents' choice in New Mexico. To be authorized, these organizations must ensure at least 90% of their contributions go towards scholarships, not favor any single private school, and not allow donors to pick specific students. The bill also creates two new tax credits: an "educational scholarship income tax credit" for individuals and a similar "educational scholarship corporate income tax credit" for businesses, both of which allow taxpayers to receive a credit on their state income tax for contributions made to these school tuition organizations, with limits on the credit amount and provisions for inflation adjustments and carrying forward unused credits.

Education

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=193&year=26