Bill > HB414

This bill enacts the Equal Educational Access Scholarship Act, which provides for tuition scholarship organizations to grant educational scholarships to low-income students to attend nonpublic schools of their parents' choice. The bill creates income tax and corporate income tax credits for contributions to these tuition scholarship organizations. Eligible students must have attended a New Mexico public school for a full year prior to receiving a scholarship or be starting school in New Mexico for the first time, and must be from a household with an income below the reduced-price lunch threshold, though they remain eligible regardless of household income once they receive a scholarship. The bill specifies requirements for tuition scholarship organizations and their duties, as well as the duties of the Public Education Department in administering the program. The tax credits are applicable for taxable years beginning on or after January 1, 2018, and the bill takes effect on July 1, 2017.

Education

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=414&year=17