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Legislative Year: 2020 Change
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Bill Detail: HB20-1204

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Title Tax Deduction For Donation To Scholarship Organization
Status House Committee on Finance Postpone Indefinitely (02/27/2020)
Bill Subjects
  • State Revenue & Budget
House Sponsors K. Ransom (R)
Senate Sponsors J. Tate (R)
J. Smallwood (R)
House Committee Finance
Senate Committee
Date Introduced 02/03/2020
Description

For income tax years commencing on or after January 1, 2021, the
bill allows an individual or corporate taxpayer to subtract from the
taxpayer's federal taxable income any amount contributed to an eligible
scholarship granting organization, to the extent such amount is not
claimed as a deduction on the taxpayer's federal tax return.

An eligible scholarship granting organization is defined as a
charitable nonprofit organization that provides scholarships to dependent
children for tuition expenses for the child's enrollment in a private school
so long as the child qualifies for free or reduced-cost lunch.
An eligible scholarship organization is required to undergo an
annual financial and compliance audit of its accounts and records
conducted by an independent certified public accountant and is required
to submit the audit to the department of education. The department of
education is required to review each audit it receives and submit an
annual list to the department of revenue of eligible nonprofit scholarship
granting organizations that are in compliance with the requirements
specified for the deduction.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (02/26/2020) (most recent)  
Additional Bill Documents Bill Documents
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