Keep Public Funds in Public Schools Act of 2026
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill seeks to redirect tax dollars currently used for private school scholarships back to public schools. It accomplishes this by repealing a tax credit that allows individuals to deduct contributions to scholarship-granting organizations and eliminating a related provision regarding the exclusion of scholarship amounts from gross income. The changes are set to take effect for tax years beginning after December 31, 2026.
Key provisions
- Repeals the individual contribution tax credit for scholarship granting organizations.
- Eliminates the exclusion of scholarship amounts from gross income.
- Amends the Internal Revenue Code of 1986 to implement these changes.
- The changes will apply to tax years beginning after December 31, 2026.
Who is affected
- Taxpayers who currently utilize the scholarship tax credit.
- Scholarship-granting organizations.
- Public schools.
- Individuals seeking private school education (indirectly).
Notable changes
- Shifts funding from private school scholarships to public schools.
- Reduces incentives for charitable contributions to scholarship organizations.
Fiscal impact
The bill is expected to increase federal revenue by eliminating the tax credit for contributions to scholarship-granting organizations.
Bill text
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Sponsors
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103 on record
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Cosponsors
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