§ 20-51-3-3 — Certification agreements

An agreement entered into under section 1 of
this chapter between the department and a scholarship granting
organization must require the scholarship granting organization to do
the following:
(1) Provide a receipt to taxpayers for contributions made to the
scholarship granting organization that will be used in a school
scholarship program. The department of state revenue shall
prescribe a standardized form for the receipt issued under this
subdivision. The receipt must indicate the value of the
contribution and part of the contribution being designated for use
in a school scholarship program.
(2) Allow a taxpayer to designate a participating school for which
the taxpayer's contribution must be used as scholarships.
(3) Use not more than ten percent (10%) of the total amount of
contributions for administrative costs.
(4) Distribute one hundred percent (100%) of any income earned
on contributions as school scholarships to eligible students.
(5) Conduct criminal background checks on all the scholarship
granting organization's employees and board members and
exclude from employment or governance any individual who
might reasonably pose a risk to the appropriate use of contributed
funds.
(6) Make the reports required by this chapter.

Legislative History

As added by P.L.182-2009(ss), SEC.364. Amended by P.L.211-2013, SEC.8.