NV AB441

Tax credit applications for the Nevada Educational Choice Scholarship Program must be submitted between May 1 and June 1 each year, with Department of Taxation decisions due by July 1, replacing the previous rolling 20-day approval process.

Applications must include the number of pupils seeking grants in three priority categories: (1) pupils who received grants the prior year, (2) siblings of prior grant recipients, and (3) all other applicants, with credits allocated in that order.

Scholarship organizations must expend donated funds within 24 months of tax credit approval or repay the unused portion to the Department of Taxation.

Scholarship organizations must be domestic nonprofit corporations organized under Nevada law (Chapter 82 of NRS) in addition to holding 501(c)(3) tax-exempt status.

The annual tax credit cap remains at $6,655,000, with taxpayers required to make donations within 30 days of receiving approval notice or forfeit the credit.