The bill establishes the State of Alabama's participation in the federal tax credit program under 26 U.S.C. § 25F, which provides tax credits to individuals who make qualified contributions to scholarship granting organizations. The legislation mandates that the Department of Revenue will compile and publish an annual list of eligible scholarship granting organizations that meet the federal requirements, ensuring compliance with the necessary regulations to maintain the state's eligibility for the tax credit starting from taxable years after December 31, 2026.

Additionally, the bill grants the Department of Revenue the authority to create rules for the implementation and administration of this act. The act is set to take effect immediately upon passage. There are no deletions from current law noted in the text, as the bill primarily introduces new provisions to facilitate Alabama's participation in the federal program.