Vote Smart's Synopsis:

Vote to pass a bill that establishes the Nevada Educational Choice Scholarship Program to provide grants for students toward private school costs.

Highlights:

• Authorizes “scholarship organizations” to provide grants to students of up to $7,755 towards the private school of the student’s parent or guardian’s choice, if they have a household income no greater than 300 percent of the federal poverty level (Sec. 5).

• Defines a “scholarship organization” as an organization that meets the following requirements (Sec. 5):
• The organization is exempt from taxation pursuant to section 501(c)(3) of the Internal Revenue Code;
• The organization does not own or operate any school in this State, including a private school which receives any grant money pursuant to the program;
• The organization does not expend more than 5 percent of the total amount of donations accepted to pay its administrative expenses; and
• The organization must provide grants to more than 1 school.

• Authorizes the Department of Taxation to provide tax credits to taxpayers and employers who donate to a scholarship organization (Secs. 4 & 7).

• Authorizes the Department to provide $5 million towards tax credits for Fiscal Year 2015-2016, with the amount increasing 10 percent each fiscal year thereafter (Sec. 4).

• Requires the Department of Education to adjust the maximum amount a scholarship organization may provide to a student on July 1 of each year, corresponding to the change in the Consumer Price Index determined by the U.S. Department of Labor (Sec. 5).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes the Nevada Educational Choice Scholarship Program to provide grants for students toward private school costs.

Highlights:

• Authorizes “scholarship organizations” to provide grants to students of up to $7,755 towards the private school of the student’s parent or guardian’s choice, if they have a household income no greater than 300 percent of the federal poverty level (Sec. 5).

• Defines a “scholarship organization” as an organization that meets the following requirements (Sec. 5):
• The organization is exempt from taxation pursuant to section 501(c)(3) of the Internal Revenue Code;
• The organization does not own or operate any school in this State, including a private school which receives any grant money pursuant to the program;
• The organization does not expend more than 5 percent of the total amount of donations accepted to pay its administrative expenses; and
• The organization must provide grants to more than 1 school.

• Authorizes the Department of Taxation to provide tax credits to taxpayers and employers who donate to a scholarship organization (Secs. 4 & 7).

• Authorizes the Department to provide $5 million towards tax credits for Fiscal Year 2015-2016, with the amount increasing 10 percent each fiscal year thereafter (Sec. 4).

• Requires the Department of Education to adjust the maximum amount a scholarship organization may provide to a student on July 1 of each year, corresponding to the change in the Consumer Price Index determined by the U.S. Department of Labor (Sec. 5).

Full Bill Text