,,ii  #aag? ,,congress  #b;d ,session   
,s4 #ddaf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #af1 #bjbb ,mr4  
,cassidy 7= himself1 ,mr4 ,scott ( ,s\? 
,c>ol9a1 ,mr4 ,da9es1 & ,mr4 ,"y7       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to all[ a cr$it   
aga9/ tax = *>itable donations to       
nonpr(it organizations provid+ education
 s*ol>%ips to qualifi$ elem5t>y &       
second>y /ud5ts4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,educational ,*oice
 = ,*ildr5 ,act4  #b4 ,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 ( #aihf is am5d$ by ins]t+
 aft] section #be;,d ! foll[+ new       
section3  #be;,e4 ,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 ,am\nt ( cr$it
 ,! cr$it all[$ "u subsection 7a7 9 any 
taxable ye> %all n exce$ an am\nt equal 
to ! great] (--  7#a7 #aj p]c5t ( !     
adju/$ gross income ( ! taxpay] = !     
taxable ye>1 or  7#b7 #b1jjj4  7c7      
,def9itions ,= purposes ( ?is section-- 
7#a7 ,eligible /ud5t ,! t]m eligible    
/ud5t means an individual :o--  7,a7 is 
a memb] ( a h\sehold ) an income :i* is 
n great] ?an #cjj p]c5t ( ! area m$ian  
gross income 7z su* t]m is us$ 9 section
 #db71 &  7,b7 is eligible to enroll 9 a
 public elem5t>y or second>y s*ool4     
7#b7 ,qualifi$ contribution ,! t]m      
qualifi$ contribution means a *>itable  
contribution 7z def9$ by section        
#agj7;c77 to a s*ol>%ip grant+          
organization 9 ! =m ( ca% or m>ketable  
securities4  7#c7 ,qualifi$ elem5t>y or 
second>y education exp5se ,! t]m        
qualifi$ elem5t>y or second>y education 

exp5se has ! same mean+ giv5 ! t]m      
qualifi$ high] education exp5ses "u     
p>agraph 7#c7 ( section #ebi7;e71 except
 t su* p>agraph %all be appli$--  7,a7  
by sub/itut+ elem5t>y s*ool or second>y 
s*ool 7z su* t]ms are def9$ 9 section   
#haja ( ! ,elem5t>y & ,second>y         
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ghja77 = eligible educational          
in/itution ea* place x appe>s1 &  7,b7 9
 subp>agraph 7,b7 !re(1 by sub/itut+ su*
 s*ool = su* in/itution ea* place x     
appe>s4  7#d7 ,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 = qualifi$        
elem5t>y or second>y education exp5ses (
 eligible /ud5ts1 &  7,c7 7i7 :i* meets 
! requirem5ts ( subsection 7d71 or  7ii7
 :i*1 pursuant to ,/ate law1 0 able1 z (
 ! date ( ! enactm5t ( ! ,educational   

,*oice = ,*ildr5 ,act1 to receive       
contributions t are eligible = a ,/ate  
tax cr$it if su* contributions are us$  
by ! organization to provide s*ol>%ips  
to individual elem5t>y & second>y       
/ud5ts1 includ+ s*ol>%ips = att5d+      
private s*ools4  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  
#b or m /ud5ts1 provid$ t n all su*     
/ud5ts att5d ! same s*ool1  7,b7 su*    
organization does n provide s*ol>%ips = 
any exp5ses o!r ?an qualifi$ elem5t>y or
 second>y education exp5ses1  7,c7 su*  
organization provides a s*ol>%ip to     
eligible /ud5ts ) a priority =-- 7i7    
/ud5ts aw>d$ a s*ol>%ip ! previ\s s*ool 
ye>1 &  7ii7 aft] application ( clause  
7i71 any su* /ud5ts :o h a sibl+ :o 0   
aw>d$ a s*ol>%ip f su* organization1    
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 = :i* ! income does n exce$ !  
am\nt e/abli%$ "u subsection            
7c77#a77;,a71  7,f7 su* organization--  
7i7 obta9s f an indep5d5t c]tifi$ public
 acc\ntant annual f9ancial & compliance 
audits1 &  7ii7 c]tifies to ! ,secret>y 
7at su* "t1 & 9 su* =m & mann]1 z !     
,secret>y may prescribe7 t ! audit      
describ$ 9 clause 7i7 has be5 complet$1 
&  7,g7 no (fic] or bo>d memb] ( su*    
organization has be5 convict$ ( a       
felony4  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 p]son describ$ 9 section     
#dfe7;b77#c77;,a7 ) respect to su*      
organization or any employee ( su*      
organization4  7#c7 ,prohibition on     
self-deal+  7,a7 ,9 g5]al ,a s*ol>%ip   

grant+ organization may n aw>d a        
s*ol>%ip to any disqualifi$ p]son4  7,b7
 ,disqualifi$ p]son ,= purposes ( ?is   
p>agraph1 a disqualifi$ p]son %all be   
det]m9$ pursuant to rules simil> to !   
rules ( section #didf4  7e7 ,d5ial (    
d\ble b5efit ,any qualifi$ contribution 
= :i* a cr$it is all[$ "u ?is section   
%all n be tak5 into acc\nt z a *>itable 
contribution = purposes ( section #agj4 
7f7 ,c>ry=w>d ( unus$ cr$it  7#a7 ,9    
g5]al ,if ! cr$it all[able "u subsection
 7a7 = any taxable ye> exce$s !         
limitation impos$ by section #bf7;a7 =  
su* taxable ye> r$uc$ by ! sum ( !      
cr$its all[able "u ?is subp>t 7o!r ?an  
?is section1 section #bc1 & section     
#be;,d71 su* excess %all be c>ri$ to !  
succe$+ taxable ye> & add$ to ! cr$it   
all[able "u subsection 7a7 = su* taxable
 ye>4  7#b7 ,limitation ,no cr$it may be
 c>ri$ =w>d "u ?is subsection to any    
taxable ye> foll[+ ! fif? taxable ye>   
aft] ! taxable ye> 9 :i* ! cr$it arose4 
,= purposes ( ! prec$+ s5t5ce1 cr$its   

%all be treat$ z us$ on a fir/-9        
fir/-out basis4  7g7 ,application (     
volume cap ,a qualifi$ contribution %all
 be tak5 into acc\nt "u ?is section only
 if su* contribution is n 9 excess ( !  
volume cap e/abli%$ "u section #c ( !   
,educational ,*oice = ,*ildr5 ,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$ elem5t>y & second>y  
education s*ol>%ips4  4  7b7 ,cr$it =   
corporations  7#a7 ,9 g5]al ,subp>t ,d (
 "p ,,iv ( sub*apt] ,a ( *apt] #a ( su* 
,code is am5d$ 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 ,am\nt ( cr$it ,! cr$it all[$ "u    

subsection 7a7 = any taxable ye> %all n 
exce$ #e p]c5t ( ! taxable income 7z    
def9$ 9 section #agj7;b77#b77;,d77 ( !  
corporation = su* taxable ye>4  7c7     
,qualifi$ contributions ,= purposes (   
?is section1 ! t]m qualifi$ contribution
 has ! mean+ giv5 su* t]m "u section    
#be;,e4  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           
,application ( volume cap ,a qualifi$   
contribution %all be tak5 into acc\nt "u
 ?is section only if su* contribution is
 n 9 excess ( ! volume cap e/abli%$ "u  
section #c ( ! ,educational ,*oice =    
,*ildr5 ,act4  4  7#b7 ,con=m+ am5dm5ts 
,section #ch7;b7 ( su* ,code 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 ,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 ,s*ol>%ip      
,grant+ ,organizations  ,sec4 #difi4    
,failure to di/ribute receipts4  #difi4 
,failure to di/ribute receipts  7a7 ,9  
g5]al ,9 ! case ( any s*ol>%ip grant+   
organization 7z def9$ 9 section #be;,e7 
:i* has be5 det]m9$ by ! ,secret>y to h 
fail$ to satisfy ! requirem5t "u        
subsection 7b7 = any taxable ye>1 any   
contribution made to su* organization   
dur+ ! fir/ taxable ye> beg9n+ aft] !   
date ( su* det]m9ation %all n be treat$ 
z a qualifi$ contribution 7z def9$ 9    
section #be;,e7c77#b77 = purposes (     
sections #be;,e & #de,u4  7b7           
,requirem5t ,! requirem5t describ$ 9 ?is
 subsection is t ! am\nt ( receipts ( ! 

s*ol>%ip grant+ organization = ! taxable
 ye> :i* are di/ribut$ be=e !           
di/ribution deadl9e ) respect to su*    
receipts %all n be less ?an ! requir$   
di/ribution am\nt ) respect to su*      
taxable ye>4  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$ = reasonable 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$+ taxable 
ye>4  7,b7 ,safe h>bor = reasonable     
adm9i/rative exp5ses ,= purposes (      
subp>agraph 7,a77i71 if ! p]c5tage (    
total receipts ( a s*ol>%ip grant+      
organization = a taxable ye> :i* are us$
 = adm9i/rative purposes is equal to or 
less ?an #aj p]c5t1 su* exp5ses %all be 

deem$ to be reasonable = purposes ( su* 
subp>agraph4  7,c7 ,c>ryov] ,) respect  
to ! am\nt ( ! total receipts ( a       
s*ol>%ip grant+ organization ) respect  
to any taxable ye>1 an am\nt n great]   
?an #ae p]c5t ( su* am\nt may1 at !     
election ( su* organization1 be c>ri$ to
 ! succe$+ taxable ye>4  7#b7           
,di/ributions ,! t]m di/ribution        
includes am\nts :i* are =mally committ$ 
b n di/ribut$4 ,a =mal commitm5t        
describ$ 9 ! prec$+ s5t5ce may include  
contributions set aside = eligible      
/ud5ts = m ?an "o ye>4  7#c7            
,di/ribution deadl9e ,! di/ribution     
deadl9e ) respect to receipts = a       
taxable ye> is ! fir/ day ( ! ?ird      
taxable ye> foll[+ ! taxable ye> 9 :i*  
su* receipts are receiv$ by ! s*ol>%ip  
grant+ organization4  4  7#b7 ,cl]ical  
am5dm5t ,! table ( sub*apt]s = *apt] #db
 ( su* ,code is am5d$ by add+ at ! end !
 foll[+ new item3  ,sub*apt] ,i4        
,s*ol>%ip ,grant+ ,organizations  4  #c4
 ,volume cap  7a7 ,allocation  7#a7 ,9  

g5]al ,= purposes ( sections #be;,e7g7 &
 #de,u7e7 ( ! ,int]nal ,rev5ue ,code (  
#aihf 7z add$ by ?is ,act71 ! volume cap
 applicable ) respect to bo? su*        
sections %all be #aj1jjj1jjj1jjj =      
cal5d> ye> #bjbc & ea* subsequ5t ye>    
!reaft]1 ) su* am\nt to be allocat$ z   
foll[s3 7,a7 #a1jjj1jjj1jjj %all be     
allocat$ to ! ,/ates1 ) su* am\nt to be 
allocat$ 9 equal am\nts to ea* ,/ate4 ,)
 respect to ! am\nt :i* has be5 allocat$
 to a ,/ate = any cal5d> ye>--  7i7 #ej 
p]c5t ( su* am\nt %all be made available
 = any individual resid+ 9 su* ,/ate to 
claim ! cr$it all[$ "u section #be;,e ( 
! ,int]nal ,rev5ue ,code ( #aihf )      
respect to any qualifi$ contributions 7z
 def9$ 9 su* section7 made by su*       
individual dur+ any taxable ye> beg9n+  
dur+ su* cal5d> ye>1 &  7ii7 #ej p]c5t (
 su* am\nt %all be made available = any 
corporation creat$ or organiz$ 9 su*    
,/ate to claim ! cr$it det]m9$ "u       
section #de,u ( su* ,code ) respect to  
any qualifi$ contributions made by su*  

corporation dur+ any taxable ye> beg9n+ 
dur+ su* cal5d> ye>4  7,b7 ,) respect to
 ! am\nt rema9+ aft] ! allocation "u    
subp>agraph 7,a7-- 7i7 #ej p]c5t ( su*  
am\nt %all be made available = any      
individual to claim ! cr$it all[$ "u    
section #be;,e ( ! ,int]nal ,rev5ue     
,code ( #aihf ) respect to any qualifi$ 
contributions made by su* individual    
dur+ any taxable ye> beg9n+ dur+ su*    
cal5d> ye>1 &  7ii7 #ej p]c5t ( su*     
am\nt %all be made available = any      
corporation to claim ! cr$it det]m9$ "u 
section #de,u ( su* ,code ) respect to  
any qualifi$ contributions made by su*  
corporation dur+ any taxable ye> beg9n+ 
dur+ su* cal5d> ye>4  7#b7 ,c>ryov] ,!  
am\nt ( any allotm5t to a ,/ate "u      
p>agraph 7#a77;,a7 = any cal5d> ye> :i* 
is n claim$ by taxpay]s describ$ 9 su*  
p>agraph dur+ su* cal5d> ye> %all be    
add$ to ! allotm5t provid$ to su* ,/ate 
"u su* p>agraph = ! subsequ5t cal5d>    
ye>4  7b7 ,fir/-,come1 fir/-,s]ve ,=    
purposes ( apply+ ! volume cap "u ?is   

section1 su* volume cap %all be appli$  
bas$ on a fir/-come1 fir/-s]ve basis1 z 
det]m9$ bas$ on ! date on :i* ! taxpay] 
made ! qualifi$ contribution4  7c7      
,real-,"t in=mation ,= purposes ( ?is   
section1 ! ,secret>y ( ! ,treasury 7or !
 ,secret>y's delegate7 %all develop a   
sy/em to track ! am\nt ( qualifi$       
contributions made dur+ ! cal5d> ye> =  
:i* a cr$it may be claim$ "u section    
#be;,e or #de,u ( ! ,int]nal ,rev5ue    
,code ( #aihf1 ) su* in=mation to be    
updat$ 9 real "t4  #d4 ,exemption f     
gross income = s*ol>%ips = qualifi$     
elem5t>y or second>y education exp5ses (
 eligible /ud5ts  7a7 ,9 g5]al ,"p ,,iii
 ( sub*apt] ,b ( *apt] #a ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 be=e section #adj ! foll[+ new section3
  #aci;,i4 ,s*ol>%ips = qualifi$        
elem5t>y or second>y education exp5ses (
 eligible /ud5ts  7a7 ,9 g5]al ,9 ! case
 ( an individual1 gross income %all n   
include any am\nts provid$ to any       
dep5d5t ( su* individual pursuant to a  

s*ol>%ip = qualifi$ elem5t>y or second>y
 education exp5ses ( an eligible /ud5t  
:i* is provid$ by a s*ol>%ip grant+     
organization4  7b7 ,def9itions ,9 ?is   
section1 ! t]ms qualifi$ elem5t>y or    
second>y education exp5se1 eligible     
/ud5t1 & s*ol>%ip grant+ organization h 
! same mean+ giv5 su* t]ms "u section   
#be;,e7c74  4  7b7 ,con=m+ am5dm5t ,!   
table ( sections = "p ,,iii ( sub*apt]  
,b ( *apt] #a ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by ins]t+ be=e ! item 
relat+ to section #adj ! foll[+ new     
item3  ,sec4 #aci;,i4 ,s*ol>%ips =      
qualifi$ elem5t>y or second>y education 
exp5ses ( eligible /ud5ts4  4  #e4      
,organizational & p>5tal autonomy  7a7  
,prohibition ( control ov] s*ol>%ip     
organizations  7#a7 ,9 g5]al  7,a7      
,treatm5t ,a s*ol>%ip grant+            
organization %all n1 by virtue (        
p>ticipation "u any provision ( ?is ,act
 or any am5dm5t made by ?is ,act1 be    
reg>d$ z act+ on behalf ( any gov]nm5tal
 entity4  7,b7 ,no gov]nm5tal control   

,no?+ 9 ?is ,act1 or any am5dm5t made by
 ?is ,act1 %all be con/ru$ to p]mit1    
all[1 enc\rage1 or au?orize any ,f$]al1 
,/ate1 or local gov]nm5t entity1 or     
(fic] or employee !re(1 to m&ate1       
direct1 or control any aspect ( any     
s*ol>%ip grant+ organization4  7,c7     
,maximum fre$om ,to ! ext5t p]missible  
by law1 ?is ,act1 & any am5dm5t made by 
?is ,act1 %all be con/ru$ to all[       
s*ol>%ip grant+ organizations maximum   
fre$om to provide = ! ne$s ( !          
p>ticipants )\t gov]nm5tal control4     
7#b7 ,prohibition ( control ov]         
non-public s*ools  7,a7 ,no gov]nm5tal  
control ,no?+ 9 ?is ,act1 or any am5dm5t
 made by ?is ,act1 %all be con/ru$ to   
p]mit1 all[1 enc\rage1 or au?orize any  
,f$]al1 ,/ate1 or local gov]nm5t entity1
 or (fic] or employee !re(1 to m&ate1   
direct1 or control any aspect ( any     
private or religi\s elem5t>y or second>y
 education in/itution4  7,b7 ,no        
exclusion ( private or religi\s s*ools  
,no ,f$]al1 ,/ate1 or local gov]nm5t    

entity1 or (fic] or employee !re(1 %all 
impose or p]mit ! imposition ( any      
conditions or requirem5ts t w\ld exclude
 or op]ate to exclude educational       
exp5ses at private or religi\s elem5t>y 
& second>y education in/itutions f be+  
consid]$ qualifi$ elem5t>y or second>y  
education exp5ses4  7,c7 ,no exclusion (
 qualifi$ exp5ses due to in/itution's   
religi\s "* or affiliation ,no ,f$]al1  
,/ate1 or local gov]nm5t entity1 or     
(fic] or employee !re(1 %all exclude1   
discrim9ate aga9/1 or o!rwise           
disadvantage any elem5t>y or second>y   
education in/itution ) respect to       
qualifi$ elem5t>y or second>y education 
exp5ses at t in/itution bas$ 9 :ole or 9
 "p on ! in/itution's religi\s "* or    
affiliation1 includ+ religi\sly bas$ or 
mission-bas$ policies or practices4     
7#c7 ,p>5tal rights to use s*ol>%ips ,no
 ,f$]al1 ,/ate1 or local gov]nm5t       
entity1 or (fic] or employee !re(1 %all 
disfavor or disc\rage ! use ( s*ol>%ips 
grant$ by p>ticipat+ s*ol>%ip grant+    

organizations = qualifi$ elem5t>y or    
second>y education exp5ses at private or
 nonpr(it elem5t>y & second>y education 
in/itutions1 includ+ fai?-bas$ s*ools4  
7#d7 ,p>5tal "r to int]v5e ,9 any action
 fil$ 9 any ,/ate or ,f$]al c\rt :i*    
*all5ges ! con/itutionality 7"u !       
con/itution ( su* ,/ate or !            
,con/itution ( ! ,unit$ ,/ates7 ( any   
provision ( ?is ,act 7or any am5dm5t    
made by ?is ,act71 any p>5t ( an        
eligible /ud5t :o has receiv$ a s*ol>%ip
 f a s*ol>%ip grant+ organization %all h
 ! "r to int]v5e 9 support ( !          
con/itutionality ( su* provision or     
am5dm5t4 ,to avoid duplication ( ef=ts &
 r$uce ! burd5s plac$ on ! p>ties to !  
action1 ! c\rt 9 any su* action may     
require int]v5]s tak+ simil> positions  
to file jo9t pap]s or to be repres5t$ by
 a s+le attorney at oral argum5t1       
provid$ t ! c\rt does n require su*     
int]v5]s to jo9 any brief fil$ on behalf
 ( any ,/ate :i* is a def5dant 9 su*    
action4  7b7 ,def9itions ,= purposes (  

?is section1 ! t]ms eligible /ud5t1     
s*ol>%ip grant+ organization1 & qualifi$
 elem5t>y or second>y education exp5se  
%all h ! same mean+s giv5 su* t]ms "u   
section #be;,e7c7 ( ! ,int]nal ,rev5ue  
,code ( #aihf 7z add$ by section #b7;a7 
( ?is ,act74  #f4 ,effective date ,!    
am5dm5ts made by ?is ,act %all apply to 
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjbb4