"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.

This bill (A1578, "Opportunity Scholarship Act") creates a pilot program allowing New Jersey taxpayers to receive state tax credits for donating to nonprofit scholarship organizations. These organizations then provide scholarships to low-income children (household income ≤2.5x federal poverty level) attending chronically failing public schools, defined as schools with high percentages of students scoring below proficiency in state assessments for two consecutive years. Scholarships cover up to $6,000 annually for K-8 students or 40% of average per-pupil spending in targeted districts for grades 9-12, usable at eligible public or nonpublic schools meeting specific non-discrimination and academic standards. The program is administered through the Department of Treasury and requires schools to accept scholarship students on a space-available basis.