US SB1810

Creates a federal tax credit for individual and corporate donations to scholarship granting organizations (SGOs) that fund K-12 private school tuition and educational expenses, with individuals receiving a credit up to the greater of 10% of adjusted gross income or $5,000, and corporations up to 5% of taxable income

Establishes a $10 billion annual national volume cap for tax credits starting in calendar year 2026, with allocations distributed to states based on school-age population and child poverty rates, and automatic 5% increases when 90% of credits are claimed

Defines qualified educational expenses broadly to include tuition, books, curricula, online materials, tutoring, standardized testing fees, dual enrollment, educational therapies for students with disabilities, and transportation costs at public, private, or religious schools including homeschools

Requires SGOs to be 501(c)(3) nonprofits that prioritize scholarships for returning students, siblings, and families with incomes below 500% of the poverty line, distribute at least 90% of receipts within three years, and undergo annual independent audits

Prohibits federal, state, and local governments from exercising control over SGOs or private schools participating in the program, and explicitly protects religious schools from exclusion based on their religious character or mission-based policies