MN HF388

Creates an "Equity and Opportunity in Education Tax Credit" allowing individual and corporate taxpayers to claim a credit equal to 80 percent of donations made to qualified foundations that award scholarships for prekindergarten programs and K-12 schools.

Establishes maximum annual tax credits of $20,000 for married joint filers ($25,000 donation), $10,000 for other individual filers ($12,500 donation), and $100,000 for corporate filers ($125,000 donation), with unused credits allowed to carry over for five years.

Allocates $10,000,000 per taxable year in statewide tax credits for scholarships to students in the seven-county metropolitan area and $10,000,000 per year for scholarships to students in nonmetropolitan counties, distributed on a first-come, first-served basis.

Requires school districts to accept education scholarships funded by qualified donations and waive participation fees for families unable to pay; requires qualified schools and prekindergarten programs to agree not to use different admissions standards for scholarship recipients.

Mandates evaluation of the program by January 2020 analyzing parental satisfaction and the program's impact on educational capacity, availability, and quality in public and private schools.