Nevada Educational Choice Scholarship Program Update


As of August 26, 2019

    Nevada Educational Choice Scholarship Program Update

    During Nevada’s 2019 Legislative Session, Assembly Bill No. 458 (AB 458) was passed and signed into law by Governor Sisolak.  This bill allows any taxpayer who is required to pay the Modified Business Tax pursuant to NRS 363A.130 to receive a credit against the tax otherwise due for any donation of money made by the taxpayer to an approved Scholarship Grant Organization (“SGO”) by the Nevada Department of Education. 

     Taxpayers who are interested in donating to an SGO should contact the Department of Education to obtain a current list of approved organizations. This list can also be found at: http://www.doe.nv.gov/Private_Schools/Nevada_Choice_Scholarship_Program/

     Donation requests sent in by an approved Scholarship Organization must be approved by the Department of Taxation (“Department”).  For Fiscal Year 2019-2020 the maximum amount of total donations from AB 458 is $6,655,000.00.

     

    As of August 26, 2019

    Fiscal Year 2019-20 (current fiscal year)

     The Department approved 50 donation requests from approved SGOs to claim the entire amount of $6,655,000.00. There is zero remaining. 

     In addition, for the current fiscal year 2019-2020 Senate Bill 551 (SB 551) approved an additional credit in the amount of $4,745,000.00. 

     The Department has approved 5 donation requests from SGOs for a total of $1,944,200.00. There is a remaining balance of $2,800,800.00.

      Fiscal Year 2019-20 (current fiscal year)

      As of August 26, 2019, for current fiscal year 2019-2020, the Nevada Educational Choice Scholarship Program credit amount approved per Assembly Bill (AB 458) was $6,655,000.00. This full amount has been claimed and there is zero remaining.

       

      In addition, for the current fiscal year 2019-2020 Senate Bill (SB 551) approved an additional credit amount to the Nevada Educational Choice Scholarship Program in the amount of $4,745,000.00. Of this amount, $1,944,200.00 has been claimed. There is a remaining balance of $2,800,800.00.

       

        Fiscal Year 2018-19

        As of June 13, 2019 for current fiscal year 2018-2019, the maximum amount of total donations that can be approved is $6,655,000.00. This full amount has been claimed and there is zero remaining.
         
        $0 remains available.

          Fiscal Year 2017-18 (prior fiscal year)

          For Fiscal Year 2017-2018, Senate Bill 555 (SB 555) allowed an additional amount of $20,000,000 to the already approved Fiscal Year 2017-2018 Nevada Educational Choice Scholarship Program credit. 

          All of the available $26,050,000.00 has been claimed.