To amend the Internal Revenue Code of 1986 to provide for a credit which is dependent on enactment of State qualified scholarship tax credits and which is allowed against the Federal income tax for charitable contributions to education investment organizations that provide assistance for elementary and secondary education.
Children's Hope Act of 2005 - Amends the Internal Revenue Code to allow a tax credit, up to $100 ($200 for joint returns), for charitable contributions to an education investment organization that disburses 90% of its contributions to provide grants to students for elementary and secondary education expenses, if at least 50% of such disbursements go to students who qualify for free or reduced-cost school lunches. Requires a taxpayer claiming such credit to first claim a state qualified scholarship tax credit, as defined by this Act, as a condition of eligibility for the federal tax credit.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line