Federal Register #2026-20264

Treasury and IRS temporary regulations for the Federal Scholarship Tax Credit

The U.S. Department of the Treasury and the Internal Revenue Service issued temporary regulations implementing the Federal Scholarship Tax Credit. - Government entities: U.S. Department of the Treasury and Internal Revenue Service (IRS); no specific sub-agency or office is identified. - What the regulations cover: Requirements for States choosing to participate and for scholarship-granting organizations certified by participating States. - Who is affected: States, scholarship-granting organizations, and individuals making qualified contributions. - Funding purpose: Qualified contributions support scholarships for elementary and secondary education. - Procurement status: This is a regulatory notice, not a procurement opportunity or contract award. No products, services, quantities, part numbers, OEMs, or vendors are identified.

Description

The temporary regulations address a new nonrefundable Federal tax credit for qualified contributions made in 2027 and later taxable years to scholarship granting organizations funding qualified elementary and secondary education scholarships. They establish requirements and procedures for States electing to participate and for organizations certified as scholarship granting organizations by participating States. The regulations also affect individuals making qualified contributions to those organizations. The regulations are effective December 1, 2026.

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