Vote Smart's Synopsis:

Vote to pass a bill that expands the "Academic Choice in Education" program by encouraging companies to fund scholarships to private schools for special-education students and regular-education students.

Highlights:

• Defines “Academic Choice in Education fund” (ACE) as education funding provided on behalf of eligible students by nonprofit scholarship funding organizations for qualifying expenses (Article 26, Sec. 1).

• Defines “nonprofit scholarship funding organization” as a charitable organization that is registered and in good standing the the South Carolina Secretary of State and exempt from federal tax due to its listing as an exempt organization in section 501c3 of the tax code (Article 26, Sec. 1).

• Expands the "Academic Choice in Education" program by encouraging companies to fund scholarships to private schools for special-education students and regular-education students (Article 26, Sec. 1).

• Establishes state individual tax credits in exchange to donors of nonprofit scholarship funding organizations (Article 26, Sec. 1).

• Requires the state treasurer to create a standard application process and clear timeline for parents to establish the eligibility of their students in the ACE scholarship program (Article 26, Sec. 1).

• Specifies that this bill shall take effect upon passage and approval by the governor (Article 26, Sec. 4).

Full Bill Text