NE LB509

Creates tax credits for contributions to certified scholarship-granting organizations that provide education scholarships for students attending private nonprofit schools in Nebraska

Tax credit equals the contribution amount, capped at 50% of tax liability and $100,000 per taxpayer ($1 million for estates/trusts), with unused credits carrying forward for five years

Annual tax credit cap starts at $25 million for 2025-2027, increasing by 25% each year if prior year utilization exceeds 90%, up to a maximum of $100 million

Eligible students include those entering kindergarten, 9th grade, or transferring from public schools, with priority given to students from households at or below 185% of federal poverty level, those experiencing bullying, foster care youth, and military families

Scholarship-granting organizations must allocate at least 90% of revenue to scholarships, limit average scholarship amounts to 75% of statewide per-pupil spending, and cannot direct scholarships to specific students designated by donors