AB214
AN ACT relating to education; revising the criteria for pupils to be eligible for a grant from a scholarship organization under the Nevada Educational Choice Scholarship Program; establishing the order of priority in which a scholarship organization must award such grants; establishing the minimum amount of a grant provided on behalf of a pupil; revising the amount of credits the Department of Taxation is authorized to approve against the modified business tax for taxpayers who donate to a scholarship organization; providing a tax credit for insurers who donate money to a scholarship organization to be applied against the general tax on insurance premiums; and providing other matters properly relating thereto. Close title AN ACT relating to education; revising the criteria for pupils to be eligible for a grant from a scholarship organization under the Nevada Educational Choice Scholarship Program; establishing the order of priority in which a scholarship organization must award such grants; establishing the minimum amount of a grant provided on behalf of a pupil; revising the amount of credits the Department of Taxation is authorized to approve against the modified business tax for taxpayers who donate to a scholarship organization; providing a tax credit for insurers who donate money to a scholarship organization to be applied against the general tax on insurance premiums; and providing other matters properly relating thereto.
Introduction Date
Monday, February 3, 2025
Primary Sponsor
View 1 Primary Sponsors Close Primary Sponsors Assemblymembe
Public exhibits
0
Support 0 · Opp 0 · Neutral 0
Auditor findings
0
recusal 0 · QPQ 0
AN ACT relating to education; revising the criteria for pupils to be eligible for a grant from a scholarship organizatio
Existing law requires financial institutions, mining businesses and other employers to pay an excise tax (the modified business tax) on wages paid by them. (NRS 363A.130, 363B.110) Existing law also requires certain insurers to pay a tax of 3.5 percent upon net direct premiums and net direct considerations written by those insurers (the insurance premium tax). (NRS 680B.027) Existing law establishes a credit against the modified business tax for a taxpayer who makes a donation to a scholarship organization that provides grants on behalf of pupils who are members of a household with a household income of not more than 300 percent of the federally designated level signifying poverty to allow those pupils to attend schools in this State, including private schools, chosen by the parents or legal guardians of those pupils (the Nevada Educational Choice Scholarship Program). (NRS 363A.139, 363B.119, 388D.270) Existing law authorizes the Department of Taxation to approve applications for such tax credits until the total amount of credits authorized for each fiscal year is $6,655,000. (NRS 363A.139, 363B.119) Sections 3 and 4 of this bill increase the amount of tax credits that the Department of Taxation is authorized to approve for donations made to a scholarship organization through the Nevada Educational Choice Scholarship Program from $6,655,000 for each fiscal year to: (1) for Fiscal Year 2025-2026, $30,000,000; and (2) for each succeeding fiscal year, 110 percent of the amount
NELIS exhibits (0 on file)
No public exhibits in the NELIS scrape.
Bill text + amendments: view on NELIS →