Arizona SB1142 allows the state to participate in a federal tax credit for contributions to scholarship granting organizations.

Arizona SB1142 amends the Arizona Revised Statutes to establish a framework for the state to participate in a federal tax credit for individual contributions to scholarship granting organizations. The bill requires the state to comply with federal laws and regulations to administer the tax credit, ensuring eligibility from taxable years beginning after December 31, 2026. Nonprofit organizations in Arizona can apply for certification as scholarship granting organizations, provided they meet federal requirements.

Arizona SB1142 allows the state to participate in a federal tax credit for contributions to scholarship granting organizations.

Arizona SB1142 amends the Arizona Revised Statutes to establish a framework for the state to participate in a federal tax credit for individual contributions to scholarship granting organizations. The bill requires the state to comply with federal laws and regulations to administer the tax credit, ensuring eligibility from taxable years beginning after December 31, 2026. Nonprofit organizations in Arizona can apply for certification as scholarship granting organizations, provided they meet federal requirements.