SB 2206

Generally, federal law allows a tax credit for charitable contributions of cash to a scholarship granting organization that uses the contributions to fund scholarships for qualified elementary or secondary education expense s in a state that authorizes participation in the program. This bill requires the commissioner of education to elect to participate in the federal tax credit. This bill requires the department of education to take the following actions in order to facilitate the state's participation in the program: (1) C ertify and submit to the secretary of the treasury of the United States and publish on the department's website a list of scholarship granting organizations that meet the requirements of federal law and are located in Tennessee; and (2) C ertify its authority to submit the list on behalf of the state and comply with any other requirements of federal law. This bill authorizes the department to do the following: (1) E stablish rules governing the process and documentation necessary for an entity to qualify to be included as a scholarship granting organization ; and ( 2 ) E nter into an agreement with other state departments and agencies, including the department of revenue, to meet the requirements of this bill .