Treasury Releases Long-Awaited Regulations on Federal Scholarship Tax Credit Programs

On October 2, the U.S. Department of Treasury issued temporary and proposed regulations on the Federal Scholarship Tax Credit (FSTC) program that clarify the roles of states and SGOs, establish initial operating and reporting requirements, and confirm several implementation options relevant to public school districts. They do not, however, resolve every major question. Additional guidance on "qualified elementary or secondary education expenses” and the meaning of “school” is still expected by the end of the year.  AASA will be submitting comments on the proposed regulations, which are due on December 1 and will keep members informed about forthcoming guidance. 

 

In order to assist superintendents in understanding the new regulations, AASA held a webinar and issued a memo on the regulations and what they mean for public schools in states that may be opting into the program.