Educational Opportunities Act

Summary

Educational Opportunities Act - Amends the Internal Revenue Code to allow individual taxpayers a tax credit for charitable contributions to a scholarship granting organization. Allows a maximum credit amount of $4,500 ($2,250 for a married individual filing a separate return). Defines "scholarship granting organization" as a tax-exempt entity whose exclusive purpose is to provide scholarships for the tuition and other expenses of elementary and secondary school students from low income households (i.e., household income not exceeding 250% of federal poverty guidelines). Allows corporate taxpayers a tax credit, up to $100,000, for contributions to a scholarship granting organization. Imposes a penalty on scholarship granting organizations that fail to distribute at least 90% of their total receipts for elementary and secondary school expenses in a taxable year.

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Timeline

1. 21 March 2013

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 21 March 2013

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 March 2013

   Introduced

   Introduced in House

   Source: IntroReferral

4. 8 July 2013

   Referred

   Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 21 March 2013 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 March 2013

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 21 March 2013

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 21 March 2013

  Open at official source

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  Vertaal document

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Sponsors

• Rep. Rokita, Todd [R-IN-4] · R · Sponsor
• Rep. Franks, Trent [R-AZ-8] · R · Sponsor
• Rep. Pitts, Joseph R. [R-PA-16] · R · Sponsor
• Rep. Pittenger, Robert [R-NC-9] · R · Sponsor
• Rep. Cole, Tom [R-OK-4] · R · Sponsor
• Rep. Harris, Andy [R-MD-1] · R · Sponsor
• Rep. Duncan, Jeff [R-SC-3] · R · Sponsor
• Rep. Messer, Luke [R-IN-6] · R · Sponsor
• Rep. LaMalfa, Doug [R-CA-1] · R · Sponsor
• Rep. Gowdy, Trey [R-SC-4] · R · Cosponsor
• Rep. Chabot, Steve [R-OH-1] · R · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

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