Bill > A2810

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 corporations that contribute to scholarship organizations. These contributions will fund scholarships for low-income children who are currently attending "chronically failing schools," which are defined as public schools (excluding charter schools) in specific "targeted districts" that fail to meet certain academic performance thresholds on State assessments. The program aims to expand educational options for these children by allowing them to attend eligible public or nonpublic schools chosen by their parents. The bill also outlines eligibility criteria for schools, defines "low-income child" based on federal poverty levels, and sets scholarship amounts based on grade level, with higher amounts for high school students. A board will oversee the program, select scholarship organizations, and commission an independent study to evaluate its impact, with a report to be submitted to the Governor and Legislature recommending whether the program should be made permanent. The bill also includes provisions for reducing State school aid to districts from which students transfer using these scholarships and establishes procedures for approving nonpublic schools to participate.