Senate Bill 50

Actions
Last Action 01/18/22: to Appropriations & Revenue (S)
Title AN ACT relating to educational opportunity account.
Bill Documents Introduced
Fiscal Impact Statement Fiscal Note
Bill Request Number 1227
Sponsor R. Alvarado
Summary of Original Version Amend KRS 141.502 to update definition of "eligible student" to increase the limit of not more than 200% of the amount of household income necessary to establish eligibility for reduced-price meals; amend KRS 141.504 to allow funds in an education opportunity account to also be used for tuition or fees to attend a prekindergarten to grade twelve nonpublic school and remove the requirements for individuals to be residents of counties of 90,000 or more to utilize the funds for nonpublic schools; amend KRS 141.510 to require a copy of the account granting organization's determination letter granting them 501(c)(3) status to be submitted with their application; amend KRS 141.512 to allow an AGO, in the first year, to allocate less than 90 percent of the total annual contributions to EOAs; amend KRS 141.522 to delete the sunset provision from the tax credit for contributions made to AGOs; increase credit cap from $25,000,000 to $50,000,000 with certain stipulations.
Index Headings of Original Version Fiscal Note - Education opportunity account program, expansion of qualifying expenses
Education, Elementary and Secondary - Education opportunity account program, inclusion of all counties
Education, Finance - Education opportunity account, qualifying expenses for nonpublic school for prekindergarten-grade 12
Taxation - Education opportunity account program tax credit, cap increase
Charitable Organizations and Institutions - Account granting organization, verification of 501(c)(3) status with application, requirement
Children and Minors - Education opportunity account program, expansion of qualifying expenses

Actions

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01/13/22
  • introduced in Senate
  • to Committee on Committees (S)
01/18/22
  • to Appropriations & Revenue (S)


Last updated: 5/25/2022 2:58 PM (EDT)
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