Bill 119 HR 817, also known as the Education Scholarship Tax Credit Act, aims to amend the Internal Revenue Code of 1986 to provide a tax credit for charitable donations made to nonprofit organizations that offer education scholarships to eligible elementary and secondary students.
Under this proposed legislation, individuals and businesses who donate to these nonprofit organizations would be eligible to receive a credit against their taxes. This credit would serve as an incentive for individuals and businesses to contribute to these organizations, ultimately helping to support students in need of financial assistance for their education.
The bill specifically targets nonprofit organizations that provide scholarships to elementary and secondary students, emphasizing the importance of education at a young age. By offering tax credits for donations to these organizations, the government hopes to encourage more individuals and businesses to support education initiatives and help students access quality education opportunities.
Overall, Bill 119 HR 817 seeks to promote education and provide financial assistance to students in need through the use of tax credits for charitable donations. If passed, this legislation could have a positive impact on education funding and accessibility for elementary and secondary students across the country.