Federal Tax Credit Scholarship Improvement Act modifies the credit amount for qualified elementary and secondary education scholarships.

The Federal Tax Credit Scholarship Improvement Act amends the Internal Revenue Code to modify the credit amount for qualified elementary and secondary education scholarships. The credit is capped at $1,700 for individual returns and twice that amount for joint returns. The bill also includes an inflation adjustment for taxable years beginning after December 31, 2026, with the Secretary required to publish the adjusted amount by November 1 each year.

Federal Tax Credit Scholarship Improvement Act modifies the credit amount for qualified elementary and secondary education scholarships.

The Federal Tax Credit Scholarship Improvement Act amends the Internal Revenue Code to modify the credit amount for qualified elementary and secondary education scholarships. The credit is capped at $1,700 for individual returns and twice that amount for joint returns. The bill also includes an inflation adjustment for taxable years beginning after December 31, 2026, with the Secretary required to publish the adjusted amount by November 1 each year.