House Bill 2187, also known as the "Federal Tax Credit Scholarship Act," amends Tennessee Code Annotated to establish a framework for the state to participate in a federal tax credit program for contributions made to scholarship granting organizations. The bill mandates the commissioner of education to elect participation in the federal tax credit under Section 70411 of Pub. L. No. 119-21, which is designed for individuals making qualified contributions. The Department of Education is tasked with certifying and publishing a list of eligible scholarship granting organizations that comply with federal requirements, specifically those outlined in 26 U.S.C. 25F.

Additionally, the bill allows the Department of Education to create rules for the qualification process of scholarship granting organizations and to collaborate with other state departments to fulfill the requirements of the federal program. It ensures compliance with all federal regulations to maintain eligibility for the tax credit starting from taxable years after December 31, 2026. The act will take effect upon becoming law, emphasizing its importance for public welfare.