H.R. 121 · 114th Congress
Local Education Authority Returns Now Act
- Stage
- In committee
- Sponsor
- Scott Garrett
- Introduced
- 2015-01-06
- Latest action
- 2015-04-29 · Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Summary
Local Education Authority Returns Now Act
This bill requires the Secretary of the Treasury to make an annual determination of states that have chosen to opt-out of K-12 education grant programs and the Secretary of Education to determine credits due to states as opt-out state education amounts.
The bill also amends the Internal Revenue Code to allow individual taxpayers in states that opt-out a refundable tax credit for a share of the opt-out amount creditable to such states.