IC 20-53-1-4: Qualified scholarship granting organization eligibility and requirements

Sec. 4. (a) A scholarship granting organization shall be included on the list of qualified scholarship granting organizations submitted by the department to the Secretary of the Treasury of the United States under this chapter, if the organization:

(1) is a nonprofit organization with the primary purpose of providing scholarships to students; and

(2) meets the requirements described in Section 25F(c)(5) of the Internal Revenue Code.

(b) A scholarship granting organization (as defined in IC 6-3.1-30.5-3(1)) for purposes of the tax credit under IC 6-3.1-30.5 is eligible to be included on the list of qualified scholarship granting organizations under this chapter, if the scholarship granting organization meets the requirements under subsection (a). Each year the department shall provide to the department of state revenue a list of the scholarship granting organizations (as defined in IC 6-3.1-30.5-3(1)) that are also included on the list of qualified scholarship granting organizations submitted by the department to the Secretary of the Treasury of the United States under this chapter.