Educational Choice for Children Act

House Bill 531 - Educational Choice for Children Act: Overview, Status, and Impact

Hozzl · 2024-02-01T08:30:24Z

Explore the details of House Bill 531 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.

2/1/2024, 8:30 AM

Congressional Summary of HR 531

Educational Choice for Children Act

This bill allows individuals and corporations a new tax credit after 2023 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 HR 531

Bill HR 531 is currently in the status of Bill Introduced since January 26, 2023. Bill HR 531 was introduced during Congress 118 and was introduced to the House on January 26, 2023. Bill HR 531's most recent activity was 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. as of January 26, 2023

Bipartisan Support of Bill HR 531

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

145

Democrat Cosponsors

Republican Cosponsors

145

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 531

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 HR 531

Educational Choice for Children Act

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.