AN ACT ESTABLISHING A TAX CREDIT FOR EDUCATIONAL ACCESS AND OPPORTUNITY SCHOLARSHIPS.

SB 40 establishes a state tax credit for individuals and businesses that donate to nonprofit organizations providing educational access and opportunity scholarships. The credit would allow donors to reduce their state income tax liability by a portion of their donation amount, directly incentivizing private funding for scholarship programs. This bill primarily affects taxpayers who make qualifying donations and the nonprofits administering these scholarships, without specifying credit percentages or donation limits. The legislation aims to expand private support for educational opportunities through tax incentives, as stated in its purpose.