SB 644
Requiring Economic Development Authority participate in federal tax credit scholarship program
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill requires the State Treasurer of West Virginia to participate in the federal tax credit scholarship program. Specifically, it mandates the Treasurer to identify and list qualified scholarship granting organizations within the state, submit an annual list to the U.S. Secretary of the Treasury, and establish rules for organizations seeking to be included on the list. The bill also defines what constitutes a qualified scholarship granting organization and eligible schools and students for these scholarships.
Key provisions
- The State Treasurer must participate in the federal tax credit scholarship program.
- The Treasurer must identify and list qualified scholarship granting organizations in West Virginia.
- The Treasurer must submit an annual list of qualified organizations to the U.S. Secretary of the Treasury.
- A qualified scholarship granting organization must be a nonprofit focused on scholarships and meet federal requirements.
- Eligible schools must meet West Virginia public school requirements and federal regulations.
- Eligible students must be West Virginia public school students and meet federal scholarship requirements.
- Scholarship funds can be used for elementary and secondary education expenses.
- Rules for the listing process must be established by the State Treasurer.
Who is affected
- State Treasurer of West Virginia
- Scholarship granting organizations in West Virginia
- West Virginia public schools
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