15-30-3101. (Temporary) Purpose. Pursuant to 5-4-104, the legislature finds that the purpose of student scholarship organizations is to provide parental and student choice in education with private donations through tax replacement programs. (Terminates December 31, 2029–secs. 20 and 24(6), Ch. 480, L. 2021.) History: En. Sec. 7, Ch. 457, L. 2015; amd. Sec. 1, Ch. 480, L. […]
15-30-3102. (Temporary) Definitions. As used in this part, the following definitions apply: (1) ”Department” means the department of revenue provided for in 2-15-1301. (2) ”Donation” means a gift of cash. (3) ”Eligible student” means a student who is a Montana resident and who is 5 years of age or older on or before September 10 of the year of […]
15-30-3103. (Temporary) Requirements for student scholarship organizations. (1) A student scholarship organization: (a) shall obligate at least 90% of its annual revenue from donations eligible for the tax credit under 15-30-3111 for scholarships. For the purpose of this calculation: (i) the cost of the annual fiscal review provided for in 15-30-3105(1)(b) may be paid out of the total […]
15-30-3104. (Temporary) Tuition payment limitation. (1) A student scholarship organization shall deliver the scholarship funds directly to the qualified education provider selected by the parents or legal guardian of the child to whom the scholarship was awarded. The qualified education provider shall immediately notify the parents or legal guardian that the payment was received. (2) A parent […]
15-30-3105. (Temporary) Reporting requirements for student scholarship organizations. (1) Each student scholarship organization shall: (a) submit a notice to the department of its intent to operate as a student scholarship organization prior to accepting donations; (b) complete an annual fiscal review of its accounts by an independent certified public accountant within 120 days after the close of the […]
15-30-3106. (Temporary) Student scholarship organizations — listing on website. The department shall maintain on its website a hyperlink to a current list of all: (1) student scholarship organizations that have provided notice pursuant to 15-30-3105(1)(a); and (2) qualified education providers that accepted scholarship funds from a student scholarship organization. (Terminates December 31, 2029–secs. 20 and 24(6), Ch. 480, […]
15-30-3107 through 15-30-3109 reserved.
15-30-3110. (Temporary) Credit for providing supplemental funding to public schools — innovative educational program. (1) Subject to subsection (4), a taxpayer or corporation is allowed a credit against the tax imposed by chapter 30 or 31 for donations made to a school district for the purpose of providing supplemental funding to the school district for innovative […]
15-30-3111. (Temporary) Qualified education tax credit for donations to student scholarship organizations. (1) Subject to subsection (4), a taxpayer or corporation is allowed a credit against the tax imposed by chapter 30 or 31 for donations made to a student scholarship organization. The donor may not direct or designate donations to a parent, legal guardian, or […]
15-30-3112. (Temporary) Report to revenue interim committee — student scholarship organizations. Each biennium, the department shall provide to the revenue interim committee, in accordance with 5-11-210, a list of student scholarship organizations receiving contributions from businesses and individuals that are granted tax credits under 15-30-3111. The listing must detail the tax credits claimed under the individual […]
15-30-3113. (Temporary) Review determination — termination — confidentiality. (1) Subject to subsection (7), the department is authorized to examine any books, papers, records, or memoranda relevant to determining whether a student scholarship organization is in compliance with 15-30-3102, 15-30-3103, and 15-30-3105. (2) If a student scholarship organization is not in compliance, the department shall provide to the […]
15-30-3114. (Temporary) Rulemaking. The department may adopt rules, prepare forms, and maintain records that are necessary to implement and administer this part. (Terminates December 31, 2029–sec. 20, Ch. 480, L. 2021.) History: En. Sec. 17, Ch. 457, L. 2015.
