H.R. 833 creates federal tax credits to encourage private donations to nonprofit scholarship organizations that fund elementary and secondary education for low-income students. Individual taxpayers can claim a credit of up to 10% of their adjusted gross income or $5,000 (whichever is greater) for donations, while corporations can claim credits up to 5% of their taxable income, though both are subject to volume caps and reduced by any state tax credits already claimed. Qualifying scholarship organizations must maintain strict safeguards, including separate donation accounts, annual independent audits, income verification for recipients (up to 300% of area median income), and prohibition of donations earmarked for specific students. These organizations must distribute at least 90% of their annual receipts within three years, minus allowances for up to 10% in administrative costs and up to 15% carried forward, or lose their tax-qualified status. The bill also protects the autonomy of participating schools and organizations from government control and prohibits excluding religious or private schools from the program.