Text of Senate Amendment 4474

Text of Senate Amendment 4474

Congressional Record, Volume 172 Issue 49 (Wednesday, March 18, 2026) [Congressional Record Volume 172, Number 49 (Wednesday, March 18, 2026)] [Senate] [Page S1218] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 4474. Ms. HIRONO (for herself, Mr. Van Hollen, and Mr. Kelly) submitted an amendment intended to be proposed by her to the bill S. 1383, to establish the Veterans Advisory Committee on Equal Access, and for other purposes; which was ordered to lie on the table; as follows: In lieu of the matter proposed to be inserted, insert the following: SECTION 1. REPEAL OF TAX CREDIT FOR CONTRIBUTIONS TO SCHOLARSHIP GRANTING ORGANIZATIONS. (a) Tax Credit.-- (1) In general.--Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 25F. (2) Conforming amendments.-- (A) Section 25(e)(1)(C) of such Code is amended by striking ``25D, and 25F'' and inserting ``and 25D''. (B) The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by striking the item relating to section 25F. (b) Exclusion From Gross Income.-- (1) In general.--Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 139K. (2) Conforming amendment.--The table of sections for part III of subchapter B of chapter 1 of such Code is amended by striking the item relating to section 139K. (c) Effective Date.-- (1) In general.--Except as otherwise provided in this subsection, the amendments made by this section shall apply to taxable years ending after December 31, 2026. (2) Exclusion from gross income.--The amendments made by subsection (b) shall apply to amounts received after December 31, 2026, in taxable years ending after such date. ______