Educational Choice for Children Act

Senate Bill 4416 - Educational Choice for Children Act: Overview, Status, and Impact

Hozzl · 2022-12-29T17:48:35Z

Explore the details of Senate Bill 4416 Educational Choice for Children Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/29/2022, 5:48 PM

Congressional Summary of S 4416

Educational Choice for Children Act

This bill allows individuals and corporations a new tax credit after 2022 for charitable contributions to tax-exempt organizations that provide scholarships to elementary and secondary school students. Such students must be members of a household with incomes not greater 300% of the area median gross income and be eligible to enroll in a public elementary or secondary school.

The bill excludes from the gross income of taxpayer dependents any scholarship amount for the elementary or secondary education expenses of eligible students. It also prohibits governmental control over scholarship granting organizations.

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Current Status of Bill S 4416

Bill S 4416 is currently in the status of Bill Introduced since June 16, 2022. Bill S 4416 was introduced during Congress 117 and was introduced to the Senate on June 16, 2022. Bill S 4416's most recent activity was Read twice and referred to the Committee on Finance. as of June 16, 2022

Bipartisan Support of Bill S 4416

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4416

Primary Policy Focus

Taxation

Potential Impact Areas

- Charitable contributions

- Elementary and secondary education

- Income tax credits

- Student aid and college costs

- Tax-exempt organizations

Alternate Title(s) of Bill S 4416

Educational Choice for Children Act

A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing education scholarships to qualified elementary and secondary students.