SB644 SFA Rucker's #Amendment 1 2-26

Alder  4754

Senator Rucker moved to amend the bill by striking out everything after the enacting clause and inserting in lieu thereof the following:

ARTICLE 1C. THE FEDERAL TAX CREDIT SCHOLARSHIP PROGRAM.

§5B-1C-1. Participation in the federal tax credit scholarship program.

The Secretary of Commerce, or his or her appointee, shall:

(1) Participate in the federal tax credit established under section 70411 of Pub. Law No. 119-21 for individuals who make qualified contributions to scholarship granting organizations;

(2) Identify qualified scholarship granting organizations located in the state in accordance with the requirements of this article;

(3) By the first day of January each year, submit to the Secretary of the Treasury of the United States and publish on its website a list of qualified scholarship granting organizations that are located in the state;

(4) Certify its own authority to provide such list upon submission;

(5) Accept applications from scholarship granting organizations throughout the year for inclusion on the list submitted pursuant to subsection (a)(3) of this section; and

(6) Establish rules solely for the purposes of administering the process and documentation necessary for an entity to be listed as a qualified scholarship granting organization.

§5B-1C-2. Enacting date.

This act shall take effect upon passage.  

Adopted

Rejected