Nevada § 388D.270 - Requirements for scholarship organization; grants provided by scholarship organization on behalf of pupils; records; regulations

§ 388D.270. Requirements for scholarship organization; grants provided by scholarship organization on behalf of pupils; records; regulations

1. A scholarship organization must: (a) Be exempt from taxation pursuant to section 501(c)(3) of the Internal Revenue Code , 26 U.S.C. § 501(c)(3) . (b) Not own or operate any school in this State, including, without limitation, a

private school, which receives any grant money pursuant to the Nevada Educational

Choice Scholarship Program. (c) Accept donations from taxpayers and other persons and may also solicit and accept

gifts and grants. (d) Not expend more than 5 percent of the total amount of money accepted pursuant

to paragraph (c) to pay its administrative expenses. (e) Provide grants on behalf of pupils who are members of a household that has a household

income which is not more than 300 percent of the federally designated level signifying

poverty to allow those pupils to attend schools in this State chosen by the parents

or legal guardians of those pupils, including, without limitation, private schools. The total amount of a grant provided by the scholarship organization on behalf of

a pupil pursuant to this paragraph must not exceed $7,755 for Fiscal Year 2015-2016. (f) Not limit to a single school the schools for which it provides grants. (g) Except as otherwise provided in paragraph (e), not limit to specific pupils the

grants provided pursuant to that paragraph. 2. The maximum amount of a grant provided by the scholarship organization pursuant

to paragraph (e) of subsection 1 must be adjusted on July 1 of each year for the fiscal

year beginning that day and ending June 30 in a rounded dollar amount corresponding

to the percentage of increase in the Consumer Price Index (All Items) published by

the United States Department of Labor for the preceding calendar year. On May 1 of each year, the Department of Education shall determine the amount of

increase required by this subsection, establish the adjusted amounts to take effect

on July 1 of that year and notify each scholarship organization of the adjusted amounts. The Department of Education shall also post the adjusted amounts on its Internet

website. 3. A grant provided on behalf of a pupil pursuant to subsection 1 must be paid directly

to the school chosen by the parent or legal guardian of the pupil. 4. A scholarship organization shall provide each taxpayer and other person who makes

a donation, gift or grant of money to the scholarship organization pursuant to paragraph

(c) of subsection 1 with an affidavit, signed under penalty of perjury, which includes,

without limitation: (a) A statement that the scholarship organization satisfies the requirements set forth

in subsection 1; and (b) The total amount of the donation, gift or grant made to the scholarship organization. 5. Each school in which a pupil is enrolled for whom a grant is provided by a scholarship

organization shall maintain a record of the academic progress of the pupil. The record must be maintained in such a manner that the information may be aggregated

and reported for all such pupils if reporting is required by the regulations of the

Department of Education. 6. The Department of Education: (a) Shall adopt regulations prescribing the contents of and procedures for applications

for grants provided pursuant to subsection 1. (b) May adopt such other regulations as the Department determines necessary to carry

out the provisions of this section. 7. As used in this section, “private school” has the meaning ascribed to it in NRS 394.103 .