Treasury Releases Rules for Federal School Choice Tax Credit Program
2 reports, 2 independent
Updated Oct 18
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What happened
The U.S. Department of the Treasury released rules for a federal school choice program set to begin in January. These rules allow donors to claim dollar-for-dollar federal tax credits of up to $1,700 for contributions made to Scholarship-Granting Organizations (SGOs).
Why it matters
The program allows donations to SGOs to cover private-school tuition, home-school expenses in some cases, and certain expenses for public-school students. Assistance is only available to students in states that opt into the program.
The Federal Scholarship Tax Credit is being introduced as a potential funding solution for educational institutions.
Who's involved
- DemocratsThe rules released limit the ability of Democrats to block SGOs or dictate fund usage.