Bill No. HB2301
Bill ID
1201752
State
KS
Title
Establishing the tax credit for low income postsecondary students scholarship program act and providing for the elimination of the tax credit for low income students scholarship program act.
Description
This bill provides the following: (1) defines an eligible students as a person who: (a) was identified as an at-risk student, as defined in K.S.A. 72-5132, when such person attended grade 12 at a school district; (b) is a KS resident while receiving a postsecondary educational scholarship; and (c) is enrolled in at least 12 credit hours at a KS educational institution for each semester that a postsecondary educational scholarship is disbursed to such student; (2) financial need means the difference between a student's available financial resources and the student's total anticipated cost of attendance at a certain KS educational institution; (3) the scholarship granting organization shall have its accounts examined and audited by a CPA, which includes information verifying that the postsecondary educational scholarships were appropriately distributed to eligible students; (4) any income earned from contributions must be disbursed in the form of postsecondary educational scholarships; (5) no organization shall provide a scholarship with respect to an eligible student that is established by funding from any contributions made by any relative of such student or accept a contribution from any source with the express or implied condition that such contributions be directed toward a scholarship for a particular student; (6) to qualify for the tax credit, the organization shall apply to the state board for a certification that the organization is in substantial compliance with the program based on information received in the annual audit and yearly report filed by the organization with the state board; (7) for each tax year, in no event shall the total amount of credits allowed exceed $10 million for any one tax year; (8) the section re: the tax credit for low income students scholarship program act defines an eligible student as a child who has previously received an educational scholarship from a scholarship granting organization pursuant to the program and a qualified school as any nonpublic school that provides education to elementary or secondary students, has notified the state board of its intention to participate in the program, and complies with the requirements of the program; and (9) this section also provides for an audit, the same provisions about restrictions about granting scholarships, the same cap on amount of credits.
Bill Type
Bill
Category
No Data Available
Session
2019-2020 Regular Session
Special Session
No Data Available
Current Status
Failed
Status Last Updated
2020-05-21
Pending Committee
Calendar
No data available
Sponsors
Texts
Votes
No data available
Amendments
No data available
Supplements
No data available