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HR 1381 113th Congress House Taxation Charitable contributions Elementary and secondary education Income tax credits Sales and excise taxes Social work, volunteer service, charitable organizations Student aid and college costs

Educational Opportunities Act

Introduced: March 21, 2013 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 8, 2013
Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Mar 21, 2013
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.
Mar 21, 2013
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now July 8, 2013

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

 Committees of jurisdiction 3
 Cosponsors 2
All 2 Republican 2