US SB1813

Creates a 75% federal tax credit for charitable donations to eligible charter school organizations for creating or expanding charter schools, capped at the greater of 10% of adjusted gross income or $5,000 per taxpayer

Establishes a $5 billion annual volume cap on total credits, with $10 million allocated to each state and the remainder available nationwide on a first-come, first-served basis

Limits eligible recipients to 501(c)(3) charter management organizations or charter schools that have received federal expansion grants or rank in the top 10% of student performance in their state

Requires organizations to expend contributions within 5 years, undergo annual independent audits, and allows up to 10% for administrative expenses with up to 15% carryover to the next year

Applies to taxable years beginning after December 31, 2025, with unused credits carrying forward up to 5 years