,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #agci  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #ac1 #bjai ,mr4  
,smuck] 7= himself1 ,mr4 ,mooney ( ,we/ 
,virg9ia1 ,ms4 ,/efanik1 ,mr4 ,budd1    
,mr4 ,gaetz1 ,mr4 ,coll9s ( ,new ,york1 
,mrs4 ,lesko1 & ,mr4 ,ku/(f ( ,t5nessee7
 introduc$ ! foll[+ bill2 :i* 0 ref]r$  
to ! ,committee on ,ways & ,means  ,a   
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to all[ a cr$it aga9/ tax 
= *>itable donations to nonpr(it        
organizations provid+ work=ce tra9+ &   
education s*ol>%ips to qualifi$ elem5t>y
 & second>y /ud5ts4  #a4 ,%ort title    
,?is ,act may be cit$ z ! ,,usa ,work=ce
 ,tax ,cr$it ,act4  #b4 ,tax cr$it =    
contributions to work=ce developm5t &   
appr5tice%ip tra9+ organizations  7a7   
,cr$it = individuals  7#a7 ,9 g5]al     
,subp>t ,a ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] section   
#be;,d ! foll[+ new section3  #be;,e4   
,qualifi$ ,work=ce ,developm5t &        

,appr5tice%ip ,tra9+ ,programs  7a7     
,all[ance ( cr$it ,9 ! case ( an        
individual1 !re %all be all[$ z a cr$it 
aga9/ ! tax impos$ by ?is *apt] = !     
taxable ye> an am\nt equal to ! am\nt ( 
qualifi$ contributions made by ! taxpay]
 dur+ ! ye>4  7b7 ,doll> limitations    
7#a7 ,income limitation ,! am\nt all[$ z
 a cr$it "u subsection 7a7 ) respect to 
any taxpay] %all n exce$ #be p]c5t ( !  
tax liability ( ! taxpay] ) a maximum   
value ( #bej1jjj4  7#b7 ,r$uction bas$  
on /ate cr$it ,! am\nt all[$ z a cr$it  
"u subsection 7a7 = a taxable ye> %all  
be r$uc$ by ! am\nt all[$ z a cr$it on  
any ,/ate tax return ( ! individual =   
qualifi$ contributions made by ! taxpay]
 dur+ ! taxable ye>4  7c7 ,qualifi$     
contributions2 o!r def9itions ,=        
purposes ( ?is section--  7#a7 ,qualifi$
 contribution ,! t]m qualifi$           
contribution means a *>itable           
contribution 7z def9$ by section        
#agj7;c77 to a work=ce developm5t or    
appr5tice%ip tra9+ organization4  7#b7  

,work=ce developm5t or appr5tice%ip     
tra9+ organization ,! t]m work=ce       
developm5t or appr5tice%ip tra9+        
organization means any organization--   
7,a7 :i*-- 7i7 is describ$ 9 section    
#eja7;c77#c7 & exempt f tax "u section  
#eja7;a71 &  7ii7 is n a private        
f\ndation1  7,b7 ^: exclusive purpose is
 to provide work=ce developm5t &        
appr5tice%ip tra9+ to eligible          
p>ticipants1 includ+--  7i7 community   
colleges1  7ii7 work=ce tra9+ programs1 
z def9$ by ,/ate work=ce ag5cies1  7iii7
 organizations t provide c>e] & te*nical
 education1  7iv7 organizations t       
provide tra9+ or appr5tice%ips op]at$ by
 a collective b>ga9+ organization1  7v7 
community organizations t provide full  
c]tifi$ tra9+1 &  7vi7 private s*ools t 
conf] diplomas1 degrees1 or c]tify      
completion ( c]ta9 grades1  7,c7 t is 9 
compliance ) all applicable ,/ate laws1 
includ+ laws relat+ to unlawful         
discrim9ation1 heal? & safety           
requirem5ts1 & crim9al backgr\nd *ecks (

 employees1 &  7,d7 :i* meets !         
requirem5ts ( subsection 7d74  7#c7     
,eligible p>ticipants ,! t]m eligible   
p>ticipant means an individual :o is    
enroll$ 9 a work=ce developm5t &        
appr5tice%ip tra9+ organization1 z      
describ$ 9 p>agraph 7#b77;,b74  7d7     
,d5ial ( d\ble b5efit ,no d$uction %all 
be all[$ "u any provision ( ?is *apt] = 
any exp5se = :i* a cr$it is all[$ "u ?is
 section4  7e7 ,election ,?is section   
%all apply to a taxpay] = a taxable ye> 
only if su* taxpay] elects to h ?is     
section apply = su* taxable ye>4  7f7   
,application ( volume cap ,a            
contribution %all be tak5 into acc\nt "u
 ?is section only if su* contribution is
 recogniz$ by ! ,secret>y z apply+ aga9/
 ! volume cap e/abli%$ "u section #e ( !
 ,,usa ,work=ce ,tax ,cr$it ,act4  4    
7#b7 ,cl]ical am5dm5t ,! table (        
sections = subp>t ,a ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #be;,d ! foll[+ new item3  ,sec4

 #be;,e4 ,qualifi$ ,work=ce ,developm5t 
& ,appr5tice%ip ,tra9+ ,programs4  4    
7b7 ,cr$it = corporations  7#a7 ,9 g5]al
 ,subp>t ,d ( "p ,,iv ( sub*apt] ,a (   
*apt] #a ( su* ,code is am5d$ by add+ at
 ! end ! foll[+ new section3  #de,t4    
,contributions to work=ce developm5t or 
appr5tice%ip tra9+ organizations  7a7   
,g5]al rule ,= purposes ( section #ch1 9
 ! case ( a corporation1 ! work=ce      
developm5t & appr5tice%ip tra9+ cr$it   
det]m9$ "u ?is section = ! taxable ye>  
is ! aggregate am\nt ( qualifi$         
contributions = ! taxable ye>4  7b7     
,limitation  7#a7 ,income limitation ,! 
am\nt ( ! cr$it det]m9$ "u ?is section =
 any taxable ye> %all n exce$ ! less]   
(--  7,a7 #be p]c5t ( ! tax liability ( 
! taxpay] = ! taxable ye>1 &  7,b7      
#bej1jjj4  7#b7 ,r$uction bas$ on /ate  
cr$it ,! am\nt all[$ z a cr$it "u       
subsection 7a7 = a taxable ye> %all be  
r$uc$ by ! am\nt all[$ z a cr$it on any 
,/ate tax return ( ! individual =       
qualifi$ contributions made by ! taxpay]

 dur+ ! taxable ye>4  7#c7 ,qualifi$    
contributions ,= purposes ( ?is section1
 ! t]m qualifi$ contribution has ! mean+
 giv5 su* t]m "u section #be;,e4  7c7   
,d5ial ( d\ble b5efit ,no d$uction %all 
be all[$ "u any provision ( ?is *apt] = 
any exp5se = :i* a cr$it is all[$ "u ?is
 section4  7d7 ,election ,?is section   
%all apply to a taxpay] = a taxable ye> 
only if su* taxpay] elects to h ?is     
section apply = su* taxable ye>4  7e7   
,application ( volume cap ,a            
contribution %all be tak5 into acc\nt "u
 ?is section only if su* contribution is
 recogniz$ by ! ,secret>y z apply+ aga9/
 ! volume cap e/abli%$ "u section #e ( !
 ,,usa ,work=ce ,tax ,cr$it ,act4  4    
7#b7 ,con=m+ am5dm5ts ,section #ch7;b7 (
 su* ,code is am5d$ by /rik+ plus at !  
end ( p>agraph 7#ca71 by /rik+ ! p]iod &
 ins]t+ 1 plus at ! end ( p>agraph      
7#cb71 & by add+ at ! end ! foll[+ new  
p>agraph3  7#cc7 ! work=ce developm5t or
 appr5tice%ip tra9+ cr$it det]m9$ "u    
section #de,t7a74  4  7#c7 ,cl]ical     

am5dm5t ,! table ( sections = subp>t ,d 
( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su*
 ,code is am5d$ by add+ at ! end !      
foll[+ new item3  ,sec4 #de,t4          
,contributions to work=ce developm5t or 
appr5tice%ip tra9+ organizations4  4    
#c4 ,tax cr$it = contributions to       
s*ol>%ip grant+ organizations  7a7      
,cr$it = individuals  7#a7 ,9 g5]al     
,subp>t ,a ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf1 z am5d$ by ?is ,act1 is am5d$ by 
ins]t+ aft] section #be;,e ! foll[+ new 
section3  #be;,f4 ,qualifi$ elem5t>y &  
second>y education s*ol>%ips  7a7       
,all[ance ( cr$it ,9 ! case ( an        
individual1 !re %all be all[$ z a cr$it 
aga9/ ! tax impos$ by ?is *apt] = !     
taxable ye> an am\nt equal to ! am\nt ( 
qualifi$ contributions made by ! taxpay]
 dur+ ! taxable ye>4  7b7 ,doll>        
limitations  7#a7 ,income limitation ,! 
am\nt all[$ z a cr$it "u subsection 7a7 
) respect to any taxpay] %all n exce$ ! 
less] (-- 7,a7 #be p]c5t ( ! tax        

liability ( ! taxpay]1 &  7,b7 #bej1jjj4
  7#b7 ,r$uction bas$ on /ate cr$it ,!  
am\nt all[$ z a cr$it "u subsection 7a7 
= a taxable ye> %all be r$uc$ by ! am\nt
 all[$ z a cr$it on any ,/ate tax return
 ( ! individual = qualifi$ contributions
 made by ! taxpay] dur+ ! taxable ye>4  
7c7 ,qualifi$ contributions2 o!r        
def9itions ,= purposes ( ?is section--  
7#a7 ,qualifi$ contribution ,! t]m      
qualifi$ contribution means a *>itable  
contribution 7z def9$ by section        
#agj7;c77 to a s*ol>%ip grant+          
organization4  7#b7 ,s*ol>%ip grant+    
organization ,! t]m s*ol>%ip grant+     
organization means any organization--   
7,a7 :i*--  7i7 is describ$ 9 section   
#eja7;c77#c7 & exempt f tax "u section  
#eja7;a71 &  7ii7 is n a private        
f\ndation1  7,b7 ^: exclusive purpose is
 to provide s*ol>%ips = tuition =       
qualifi$ elem5t>y & second>y education  
exp5ses ( eligible /ud5ts1 &  7,c7 :i*  
meets ! requirem5ts ( subsection 7d74   
7d7 ,requirem5ts = s*ol>%ip grant+      

organizations  7#a7 ,9 g5]al ,an        
organization meets ! requirem5ts ( ?is  
subsection if-- 7,a7 su* organization   
provides s*ol>%ips to--  7i7 m ?an #a   
/ud5t1 &  7ii7 diff]5t /ud5ts att5d+ m  
?an #a s*ool1  7,b7 su* organization    
does n provide s*ol>%ips = any exp5ses  
o!r ?an qualifi$ elem5t>y & second>y    
education exp5ses1  7,c7 su*            
organization provides a s*ol>%ip to     
eligible /ud5ts ) a priority = /ud5ts   
aw>d$ a s*ol>%ip ! previ\s s*ool ye>1   
7,d7 su* organization does n e>m>k or   
set aside contributions = s*ol>%ips on  
behalf ( any p>ticul> /ud5t1  7,e7 su*  
organization takes appropriate /eps to  
v]ify ! annual h\sehold income & family 
size ( eligible /ud5ts to :om x aw>ds   
s*ol>%ips1 & limits !m to a memb] ( a   
h\sehold ) a total annual h\sehold      
income1 :i* does n exce$ #bjj p]c5t ( ! 
m$ian gross income1 z det]m9$ by !      
,secret>y ( ,h\s+ & ,urban ,developm5t1 
= ! purposes ( ! l[-income h\s+ cr$it "u
 section #db1  7,f7 su* organization    

obta9s f an indep5d5t c]tifi$ public    
acc\ntant annual f9ancial & compliance  
audits & submits su* audits to !        
,secret>y1  7,g7 no (fic] or bo>d memb] 
( su* organization has be5 convict$ ( a 
felony1 &  7,h7 su* organization        
requires any eligible /ud5t :o receives 
a s*ol>%ip to p]mit su* organization to 
%>e assessm5t in=mation & o!r data      
reg>d+ ! /ud5t = ! purpose ( provid+    
reports describ$ 9 subsection 7e71 & su*
 o!r in=mation z necess>y = ! purposes (
 report+ on ! academic a*ievem5t (      
eligible /ud5ts receiv+ a s*ol>%ip f su*
 organization4  7#b7 ,indep5d5t c]tifi$ 
public acc\ntant ,= purposes ( p>agraph 
7#a77;,f71 ! t]m indep5d5t c]tifi$      
public acc\ntant means1 ) respect to an 
organization1 a c]tifi$ public acc\ntant
 :o is n a relat$ p]son 7)9 ! mean+ (   
section #dfe7;b77#c77;,c77 ) respect to 
su* organization or any employee ( su*  
organization4  7e7 ,eligible s*ool      
report+ requirem5t  7#a7 ,9 g5]al ,!    
reports describ$ 9 ?is subsection       

include-- 7,a7 a report to ! p>5ts on ! 
/ud5t's academic a*ievem5t1 &  7,b7 a   
report to ea* qualifi$ s*ol>%ip grant+  
organization t provides s*ol>%ips to    
/ud5ts at ! s*ool1 t includes ! te/     
results1 9 ! aggregate & disaggregat$ by
 race or e?nicity & grade level1 ( !    
/ud5ts receiv+ su* s*ol>%ips :o are 9   
grades #c ?r\gh #ab on a                
grade-appropriate nationally            
norm-ref]5c$ /&>diz$ te/4  7#b7 ,no     
p]sonally id5tifiable in=mation ,9      
prep>+ & submitt+ ! report describ$ 9   
p>agraph 7#a77;,b71 a s*ool %all n      
include any p]sonally id5tifiable       
in=mation reg>d+ a /ud5t4  7f7 ,d5ial ( 
d\ble b5efit ,no d$uction %all be all[$ 
"u any provision ( ?is *apt] = any      
exp5se = :i* a cr$it is all[$ "u ?is    
section4  7g7 ,election ,?is section    
%all apply to a taxpay] = a taxable ye> 
only if su* taxpay] elects to h ?is     
section apply = su* taxable ye>4  7h7   
,application ( volume cap ,a            
contribution %all be tak5 into acc\nt "u

 ?is section only if su* contribution is
 recogniz$ by ! ,secret>y z apply+ aga9/
 ! volume cap e/abli%$ "u section #e ( !
 ,,usa ,work=ce ,tax ,cr$it ,act4  4    
7#b7 ,cl]ical am5dm5t ,! table (        
sections = subp>t ,a ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code1 z   
am5d$ by ?is ,act1 is am5d$ by ins]t+   
aft] ! item relat+ to section #be;,e !  
foll[+ new item3  ,sec4 #be;,f4         
,qualifi$ elem5t>y & second>y education 
s*ol>%ips4  4  7b7 ,cr$it = corporations
  7#a7 ,9 g5]al ,subp>t ,d ( "p ,,iv (  
sub*apt] ,a ( *apt] #a ( su* ,code1 z   
am5d$ by ?is ,act1 is am5d$ by add+ aft]
 section #de,t ! foll[+3  #de,u4        
,contributions to s*ol>%ip grant+       
organizations  7a7 ,g5]al rule ,=       
purposes ( section #ch1 9 ! case ( a    
corporation1 ! education s*ol>%ip cr$it 
det]m9$ "u ?is section = ! taxable ye>  
is ! aggregate am\nt ( qualifi$         
contributions = ! taxable ye>4  7b7     
,limitation  7#a7 ,income limitation ,! 
am\nt ( ! cr$it det]m9$ "u ?is section =

 any taxable ye> %all n exce$ ! less]   
(-- 7,a7 #be p]c5t ( ! tax liability ( !
 taxpay] = ! taxable ye>1 &  7,b7       
#bej1jjj4  7#b7 ,r$uction bas$ on /ate  
cr$it ,! am\nt all[$ z a cr$it "u       
subsection 7a7 = a taxable ye> %all be  
r$uc$ by ! am\nt all[$ z a cr$it on any 
,/ate tax return ( ! individual =       
qualifi$ contributions made by ! taxpay]
 dur+ ! taxable ye>4  7c7 ,qualifi$     
contributions ,= purposes ( ?is section1
 ! t]m qualifi$ contribution has ! mean+
 giv5 su* t]m "u section #be;,f4  7d7   
,d5ial ( d\ble b5efit ,no d$uction %all 
be all[$ "u any provision ( ?is *apt] = 
any exp5se = :i* a cr$it is all[$ "u ?is
 section4  7e7 ,election ,?is section   
%all apply to a taxpay] = a taxable ye> 
only if su* taxpay] elects to h ?is     
section apply = su* taxable ye>4  7f7   
,application ( volume cap ,a            
contribution %all be tak5 into acc\nt "u
 ?is section only if su* contribution is
 recogniz$ by ! ,secret>y z apply+ aga9/
 ! volume cap e/abli%$ "u section #e ( !

 ,,usa ,work=ce ,tax ,cr$it ,act4  4    
7#b7 ,con=m+ am5dm5ts ,section #ch7;b7 (
 su* ,code1 z am5d$ by ?is ,act1 is     
am5d$ by /rik+ plus at ! end ( p>agraph 
7#cb71 by /rik+ ! p]iod & ins]t+ 1 plus 
at ! end ( p>agraph 7#cc71 & by add+ at 
! end ! foll[+ new p>agraph3  7#cd7 !   
education s*ol>%ip cr$it det]m9$ "u     
section #de,u7a74  4  7#c7 ,cl]ical     
am5dm5t ,! table ( sections = subp>t ,d 
( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su*
 ,code1 z am5d$ by ?is ,act1 is am5d$ by
 add+ at ! end ! foll[+ new item3  ,sec4
 #de,u4 ,contributions to s*ol>%ip      
grant+ organizations4  4  7c7 ,excise   
tax on failure ( s*ol>%ip grant+        
organizations ,to make di/ributions     
7#a7 ,9 g5]al ,*apt] #db ( su* ,code is 
am5d$ by add+ at ! end ! foll[+ new     
sub*apt]3  ,i ,organizations ,provid+   
,work=ce ,developm5t1 ,appr5tice%ip     
,tra9+1 or ,s*ol>%ips  ,sec4 #difi4 ,tax
 on failure to di/ribute receipts4      
#difi4 ,tax on failure to di/ribute     
receipts  7a7 ,tax impos$ ,!re is h]eby 

impos$ a tax on ! failure ( a work=ce   
developm5t or appr5tice%ip tra9+        
organization 7z def9$ 9 section #be;,e7 
or a s*ol>%ip grant+ organization 7z    
def9$ 9 section #be;,f7 to make         
di/ributions 9 any taxable ye> 9 an     
am\nt equal to or 9 excess ( ! requir$  
di/ribution am\nt be=e ! di/ribution    
deadl9e relat+ to a taxable ye>4  7b7   
,am\nt ( tax ,! tax impos$ by subsection
 7a7 ) respect to a taxable ye> %all be 
equal to #ae p]c5t ( ! great] (--  7#a7 
! requir$ di/ribution am\nt ) respect to
 ! taxable ye>1 or  7#b7 ! am\nt (      
receipts ( ! qualifi$ s*ol>%ip grant+   
organization = ea* taxable ye> :i* are  
di/ribut$ be=e ! di/ribution deadl9e )  
respect to su* receipts4  7c7           
,def9itions ,= purposes ( ?is section-- 
7#a7 ,requir$ di/ribution am\nt  7,a7 ,9
 g5]al ,! requir$ di/ribution am\nt )   
respect to a taxable ye> is ! am\nt     
equal to #ajj p]c5t ( ! total receipts (
 ! s*ol>%ip grant+ organization = su*   
taxable ye>--  7i7 r$uc$ by ! sum ( su* 

receipts t are reta9$ = adm9i/rative    
exp5ses = ! taxable ye> or are c>ri$ to 
! succe$+ taxable ye> "u subp>agraph    
7,c71 &  7ii7 increas$ by ! am\nt ( !   
c>ryov] "u subp>agraph 7,c7 f ! prec$+  
taxable ye>4  7,b7 ,adm9i/rative exp5ses
 ,= purposes ( ?is p>agraph1 n m ?an #aj
 p]c5t ( total receipts ( a qualifi$    
work=ce developm5t organization1        
appr5tice%ip tra9+ organization or      
s*ol>%ip grant+ organization = a taxable
 ye> may be us$ = adm9i/rative purposes4
  7,c7 ,c>ryov]  7i7 ,qualifi$ s*ol>%ip 
grant+ organization ,receipts ( a       
qualifi$ s*ol>%ip grant+ organization = 
a taxable ye> t are n aw>d$ s*ol>%ips = 
! taxable ye> or reta9$ = adm9i/rative  
purposes = ! taxable ye> %all be c>ri$  
to ! succe$+ taxable ye>4 ,! am\nt c>ri$
 to a taxable ye> "u ! prec$+ s5t5ce    
%all n exce$ #ae p]c5t ( total receipts 
( ! qualifi$ s*ol>%ip grant+            
organization = ! taxable ye>4  7ii7     
,qualifi$ work=ce developm5t or         
appr5tice%ip tra9+ organization         

,receipts ( a qualifi$ work=ce          
developm5t or appr5tice%ip tra9+        
organization t are n disburs$ = !       
taxable ye> or reta9$ = adm9i/rative    
purposes = ! taxable ye> %all be c>ri$  
to ! succe$+ taxable ye>4 ,! am\nt c>ri$
 to ! taxable ye> "u ! prec$+ s5t5ce    
%all n exce$ #ae p]c5t ( total receipts 
( ! qualifi$ work=ce developm5t or      
appr5tice%ip tra9+ organization = !     
taxable ye>4  7#b7 ,di/ributions ,! t]m 
di/ribution includes am\nts :i* are     
=mally committ$ b n di/ribut$4 ,a =mal  
commitm5t describ$ 9 ! prec$+ s5t5ce may
 include contributions set aside =      
eligible /ud5ts or p>ticipants = m ?an  
"o ye>4  7#c7 ,di/ribution deadl9e ,!   
di/ribution deadl9e ) respect to        
receipts = a taxable ye> is ! fir/ day (
 ! second taxable ye> foll[+ ! taxable  
ye> 9 :i* su* receipts are receiv$ by ! 
s*ol>%ip grant+ organization4  7d7      
,reasonable cause exception ,! tax      
impos$ by subsection 7a7 %all n apply ) 
respect to any failure to make requir$  

di/ributions be=e ! di/ribution deadl9e 
:i* is n willful & is due to reasonable 
cause4  4  7#b7 ,abatem5t ( tax  7,a7   
,g5]al rule ,subsection 7b7 ( section   
#difb ( su* ,code is am5d$ by /rik+ or  
,g & ins]t+ ,g1 or ,i4  7,b7 ,fir/ ti]  
tax ,subsection 7a7 ( section #difc (   
su* ,code is am5d$ by ins]t+ #difi1 aft]
 #difg14  7,c7 ,taxable ev5t ,subsection
 7c7 ( section #difc ( su* ,code is     
am5d$ by ins]t+ #difi1 aft] #difg14     
7#c7 ,correction p]iod ,subp>agraph 7,a7
 ( section #difc7;e77#b7 ( su* ,code is 
am5d$ by ins]t+ or #difi aft] #didb4    
7#d7 ,cl]ical am5dm5t ,! table (        
sub*apt]s = *apt] #db ( su* ,code is    
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sub*apt] ,i4 ,organizations     
,provid+ ,work=ce ,developm5t1          
,appr5tice%ip ,tra9+1 or ,s*ol>%ips  4  
#d4 ,organizational autonomy ,a         
p>ticipat+ eligible organization or     
entity "u ! programs e/abli%$ pursuant  
to ! ,,usa ,work=ce ,tax ,cr$it ,act are
 autonom\s & n ag5ts ( ! ,/ate or ,f$]al

 ,gov]nm5t & !re=e--  7#a7 a ,f$]al or  
,/ate ag5cy may n 9 any way regulate !  
program ( a p>ticipat+ entity t accepts 
a contribution or a s*ol>%ip "u ?is     
,act2  7#b7 ! provision ( tax cr$its "u 
?is ,act does n exp& ! regulatory       
au?ority ( ! ,f$]al ,gov]nm5t1 ! ,/ate1 
its (fic]s1 or any s*ool di/rict to     
impose any additional regulation ( an   
entity beyond ^? necess>y to en=ce !    
requirem5ts ( ?is ,act2 &  7#c7         
p>ticipat+ eligible entities %all be    
giv5 ! maximum fre$om to provide = !    
ne$s ( _! p>ticipants )\t gov]nm5t      
control4  #e4 ,volume cap  7a7 ,am\nt ,!
 volume cap am\nt available = tax cr$its
 = purposes ( ?is ,act %all be          
#b1jjj1jjj1jjj annually1 beg9n+ =       
taxable ye>s beg9n+ 9 #bjbj & = ea*     
succe$+ cal5d> ye> !reaft]4  7b7        
,application = cr$its ,! ,secret>y %all 
develop a sy/em to track & make         
available in=mation 9 real "t1 reg>d+   
availability ( tax cr$its to donors :i* 
w be available on a fir/-come1 fir/-s]ve

 basis4  7c7 ,di/ribution ,fifty p]c5t (
 ! annual am\nt made available %all be  
allott$ by ! ,secret>y = donations to   
work=ce developm5t & appr5tice%ip tra9+ 
organizations & #ej p]c5t = donations to
 s*ol>%ip grant+ organizations4  #f4    
,effective date ,! am5dm5ts made by ?is 
,act %all apply to taxable ye>s beg9n+  
aft] ,decemb] #ca1 #bjai4