A4777

Requires state participation in federal tax credit scholarship program and mandates annual reporting by the Commissioner of Education.

Requires the state to participate in a federal tax credit program for contributions to scholarship granting organizations. Directs the Commissioner of Education to annually provide required information to the U.S. Secretary of the Treasury, including a list of scholarship granting organizations. This program allows individuals to claim a federal income tax credit for contributions to scholarship granting organizations, up to $1,700 per taxable year, for funding scholarships for students from households with income not greater than 300 percent of the area median gross income.