Bill > S727

This bill, known as the "Opportunity Scholarship Act," establishes a five-year pilot program within the Department of the Treasury to provide tax credits to taxpayers who contribute to a designated nonprofit scholarship organization. This organization will then distribute scholarships to low-income children, defined as those from households earning no more than 2.5 times the federal poverty threshold, who are enrolled in or eligible to enroll in "chronically failing schools" – public schools where a significant percentage of students score below proficient in math and language arts on state assessments. The program aims to expand educational options for these children by allowing them to attend approved "eligible schools," which can be public schools outside their district or nonpublic schools, provided these schools meet specific educational and non-discriminatory standards. Taxpayers making contributions to the scholarship organization can receive a tax credit equal to 100% of their donation, with certain limitations on the total value of credits issued annually. A newly established Opportunity Scholarship Board will oversee the program, select the scholarship organization, and report on its effectiveness, with the goal of assessing whether the program should be made permanent and expanded. The bill also outlines provisions for scholarship amounts, student eligibility, school requirements, and the reduction of state school aid to districts for students receiving scholarships.