AB364
AN ACT relating to taxation; revising the pupils on whose behalf a scholarship organization is authorized to provide a grant under the Nevada Education Choice Scholarship Program; requiring a scholarship organization to notify the Department of Taxation if there are no pupils on whose behalf the scholarship organization is authorized to provide a grant; prohibiting the Department from approving applications for tax credits under the Program made by such a scholarship organization; requiring a scholarship organization to repay certain tax credits under certain circumstances; and providing other matters properly relating thereto. Close title AN ACT relating to taxation; revising the pupils on whose behalf a scholarship organization is authorized to provide a grant under the Nevada Education Choice Scholarship Program; requiring a scholarship organization to notify the Department of Taxation if there are no pupils on whose behalf the scholarship organization is authorized to provide a grant; prohibiting the Department from approving applications for tax credits under the Program made by such a scholarship organization; requiring a scholarship organization to repay certain tax credits under certain circumstances; and providing other matters properly relating thereto.
Introduction Date
Tuesday, March 4, 2025
Primary Sponsor
View 1 Primary Sponsors Close Primary Sponsors Assemblymembe
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AN ACT relating to taxation; revising the pupils on whose behalf a scholarship organization is authorized to provide a g
Under existing law, financial institutions, certain mining businesses and other employers are required to pay an excise tax (the modified business tax) on the wages paid by them. (NRS 363A.130, 363B.160) Existing law establishes a credit against the modified business tax paid by certain businesses equal to an amount which is approved by the Department of Taxation and which must not exceed the amount of any donation of money which is made by a taxpayer to a scholarship organization that provides grants on behalf of pupils who are members of a household with a household income which is not more than 300 percent of the federally designated level signifying poverty to attend schools in this State, including private schools, chosen by the parents or legal guardians of those pupils. (NRS 363A.130, 363A.139, 363B.110, 363B.119, 388D.270) Section 1 of this bill: (1) prohibits a scholarship organization from using a donation for which the donor received a tax credit to provide a grant on behalf of a pupil unless the scholarship organization also used a donation for which a donor received a tax credit to provide a grant on behalf of the pupil for the immediately preceding school year at the same school; and (2) requires a scholarship organization to repay the amount of any tax credit approved by the Department if the scholarship organization violates this provision. Section 1 requires a scholarship organization to notify the Department if there ceases to be any pupil on whose behalf th
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