The bill proposes the addition of a new article, designated as 18-31A-1, to the Code of West Virginia, 1931, which establishes the framework for participation in a federal tax credit scholarship program. It mandates the State Treasurer to engage in the federal tax credit program outlined in section 70411 of Pub. Law No. 119-21, which incentivizes individuals to make contributions to scholarship granting organizations. The Treasurer is tasked with identifying qualified scholarship granting organizations within the state and is required to submit and publish an annual list of these organizations by January 1st each year.

Additionally, the bill outlines specific responsibilities for the Treasurer, including the acceptance of applications from scholarship granting organizations for inclusion on the published list and the establishment of policies to manage the documentation process for these organizations. The provisions of this section are set to take effect upon passage of the bill.

Statutes affected:
Introduced Version: 18-31A-1, 18-31A-2, 18-31A-3, 18-31A-4, 18-31A-5, 18-31A-6
Committee Substitute: 18-31A-1
Committee Substitute for the Committee Substitute: 18-31A-1
Engrossed Committee Substitute for the Committee Substitute: 18-31A-1