Educational Opportunities Act of 2023

The Educational Opportunities Act of 2023 creates tax credits for individuals and corporations that contribute to scholarship granting organizations (SGOs). Individuals can receive a tax credit of up to $4,500 (or $2,250 for married filing separately) for contributions to SGOs that provide scholarships to students from households earning at or below 250% of the federal poverty level. SGOs must meet specific requirements including verifying household income, providing scholarships only for elementary and secondary education expenses, serving multiple students from multiple schools, and submitting annual reports. Schools receiving scholarship students must provide annual academic achievement reports without personally identifiable information. The bill also mandates annual evaluations by the Institute of Education Sciences to assess scholarship effectiveness on student achievement and school choice options.