Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Local Education Authority Returns Now Act - Requires the Secretary of the Treasury to make an annual determination of states that have chosen to opt-out of K-12 education grant programs.
Requires the Secretary of Education to determine credits due to states as opt-out state education amounts.
Amends the Internal Revenue Code to allow individual taxpayers in states that opt-out a refundable tax credit for a share of the opt-out amount creditable to such states.
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