Bill No. SF1872
Bill ID
1223177
State
MN
Title
K-12 scholarships donations income tax credit allowance creation
Description
Section 4 entitled Equity and Opportunity in Education Tax Credit has the following provisions: (1) an eligible student resides in MN; is either a member of a household during the year prior to receipt of a scholarship that is not more than 2/3 of the income standard used to qualify for a reduced price meal under the National School Lunch Program or a disabled child; and either attended a school (public, private, church or religious organization, or home school) in the semester preceding initial receipt of a qualified scholarship, is younger than 7 and not enrolled in kindergarten or first grade in the semester preceding initial receipt of a scholarship, previously received a scholarship under this section, or lived in MN for less than a year prior to initial receipt of a scholarship; (2) a "qualified school" means a school operated in MN that is a nonpublic elementary or secondary school in MN wherein a resident may legally fulfill the state's compulsory attendance laws that, inter alia, is not operated for profit; (3) a "qualified scholarship" means a payment for a qualified foundation to or on behalf of the parent or guardian of an eligible student for payment of tuition for enrollment in kindergarten-12 at a qualified school; (4) an individual or corporate taxpayer who has been issued a credit certificate under subdivision 3 is allowed a credit against the tax due under this chapter to 70% of the amount donated during the taxable year to the qualified foundation or public school foundation designated on the taxpayer's credit certificate but no credit is allowed if the taxpayer designates a specific child as the beneficiary of the contribution; and (5) a qualified foundation that awards qualified scholarships must: (i) require a qualified school receiving payment of tuition through a scholarship funded by contributions qualifying for the tax credit to sign an agreement that it will not use different admissions standards for a student with a qualified scholarship and (ii) give priority of awards of scholarships to a student in a household that has a total annual income during the year prior to receipt of the scholarship (without consideration of the benefits under the program) that does not exceed an amount equal to 2 times the income standard used to qualify for a reduced-price meal under the National School Lunch Program.
Bill Type
Bill
Category
Tax Credit Vouchers
Session
91st Legislature 2019-2020
Special Session
No Data Available
Current Status
Introduced
Status Last Updated
2019-02-28
Pending Committee
Calendar
Sponsors
Texts
Votes
No data available
Amendments
No data available
Supplements
No data available