The bill aims to revise the existing framework for the Student Scholarship Organization and Innovative Educational Program income tax credits by increasing the aggregate limits for these credits. It introduces a limitation on the amount of donations that a school district may retain, ensuring that any excess funds are redistributed to school districts that qualify for advanced opportunity aid. Additionally, the bill revises the definition of "innovative educational program" and includes a statutory appropriation to support these changes.

Furthermore, the bill amends several sections of the Montana Code Annotated (MCA) and repeals specific sections from Chapter 480 of the Laws of 2021. These amendments and repeals are intended to streamline the process and enhance the effectiveness of the scholarship and educational program funding. The bill also establishes an immediate effective date, an applicability date, and a termination date for the new provisions.

Statutes affected:
HB0408_1.pdf: 15-30-3102, 15-30-3110, 15-30-3111, 17-7-502
HB0408_2.pdf: 15-30-3102, 15-30-3110, 15-30-3111, 17-7-502
HB0408_3.pdf: 15-30-3102, 15-30-3110, 15-30-3111, 17-7-502
HB0408_4.pdf: 15-30-3102, 15-30-3110, 15-30-3111, 17-7-502
Amended: 15-30-3102, 15-30-3110, 15-30-3111, 17-7-502
Introduced: 15-30-3102, 15-30-3110, 15-30-3111, 17-7-502