Education Freedom Scholarships and Opportunity Act This bill allows individual and corporate taxpayers a tax credit for cash contributions to certain scholarship-granting and workforce training organizations. It imposes a cap of $10 billion on the sum of contributions that qualify for a tax credit under this bill. The bill requires the Department of Education, in coordination with the Departments of the Treasury and Labor, to establish, host, and maintain a web portal that (1) lists all eligible scholarship-granting and workforce training organizations; (2) enables contributions to such organizations; (3) provides information about the benefits of this bill; and (4) enables a state to submit and update information about its programs and educational organizations, including information on student eligibility and allowable educational expenses.
Education Freedom Scholarships and Opportunity Act
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Charitable contributionsElementary and secondary educationEmployment and training programsGovernment information and archivesHigher educationIncome tax creditsSocial work, volunteer service, charitable organizationsStudent aid and college costsVocational and technical education
Education Freedom Scholarships and Opportunity Act
USA118th CongressS-56| Senate
| Updated: 1/24/2023
Education Freedom Scholarships and Opportunity Act This bill allows individual and corporate taxpayers a tax credit for cash contributions to certain scholarship-granting and workforce training organizations. It imposes a cap of $10 billion on the sum of contributions that qualify for a tax credit under this bill. The bill requires the Department of Education, in coordination with the Departments of the Treasury and Labor, to establish, host, and maintain a web portal that (1) lists all eligible scholarship-granting and workforce training organizations; (2) enables contributions to such organizations; (3) provides information about the benefits of this bill; and (4) enables a state to submit and update information about its programs and educational organizations, including information on student eligibility and allowable educational expenses.
Charitable contributionsElementary and secondary educationEmployment and training programsGovernment information and archivesHigher educationIncome tax creditsSocial work, volunteer service, charitable organizationsStudent aid and college costsVocational and technical education