This bill aims to revise laws concerning student scholarship organizations in Montana by introducing new certification requirements and enhancing transparency and accountability. It mandates that student scholarship organizations apply for certification from the Department of Revenue before accepting donations eligible for tax credits. The certification process includes specific timelines for decision-making and stipulates that organizations denied certification must rectify issues within 30 days. Additionally, the bill emphasizes that these organizations must allocate at least 90% of their annual revenue from donations to scholarships and allows parents to choose any qualified education provider for their children.

The bill also revises definitions related to student scholarship organizations and outlines detailed reporting requirements. Organizations must maintain separate accounts for scholarship and operating funds, conduct annual fiscal reviews, and provide comprehensive information on their websites regarding scholarship processes and awarded providers. The Department of Revenue is tasked with maintaining a current list of certified organizations and their scholarship policies on its website, ensuring that the public has access to this information. Overall, the bill seeks to create a more structured and accountable framework for student scholarship organizations in Montana.

Statutes affected:
LC Text: 15-30-3102, 15-30-3103, 15-30-3105, 15-30-3106
SB0253_1(1): 15-30-3102, 15-30-3103, 15-30-3105, 15-30-3106
SB0253_1: 15-30-3102, 15-30-3103, 15-30-3105, 15-30-3106