S.4505 - Coronavirus Emergency Education Grants Act116th Congress (2019-2020)
|Sponsor:||Sen. Cruz, Ted [R-TX] (Introduced 08/06/2020)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 08/06/2020 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.4505 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (08/06/2020)
Coronavirus Emergency Education Grants Act
This bill directs the Department of the Treasury to establish a program to make one-time direct payments to parents or guardians to offset the educational expenses of their children during the period of March 2020 to June 2021. It also directs Treasury to award emergency education freedom grants to states.
The bill establishes a new tax credit for contributions to an eligible scholarship-granting organization. An eligible scholarship-granting organization is an tax-exempt organization that provides scholarships to individual elementary and secondary school students who reside in the state in which the organization is recognized or are members of a federally recognized Indian tribe. The organization must allocate at least 90% of contributions to qualifying scholarships on an annual basis and provide such scholarships to eligible students and families.