La. Admin. Code tit. 28 § CLV-705

Current through Register Vol. 50, No. 9, September 20, 2024

Section CLV-705 - Annual Report

A. Each school tuition organization shall annually provide a public report to the LDE that contains information regarding all scholarships awarded or granted in the previous fiscal year. The report shall be prepared by a certified public accountant and shall be submitted to the department no later than the first day of January each year. The report shall contain:

1. the name and address of the school tuition organization;

2. the total number and total dollar amount of donations received during the previous fiscal year;

3. the total number and total dollar amount of educational scholarships awarded to qualified students;

4. the total amount expended on administrative costs;

5. the percentage breakdown of donations expended on scholarship and administrative costs during the previous fiscal year;

6. the actual tuition and fee amounts published by the qualifying schools which enrolled a student with a scholarship from that school tuition organization;

7. the total amount of donations received by the school tuition organization;

8. the total amount of donations made by each donor during the previous calendar year;

9. the amount of each taxpayer's donations expended on scholarships during the previous school year; and

10. the social security number or Louisiana taxpayer identification number of each donor.

B. The department shall bar a school tuition organization that fails to report all information required in this Section by the first day of January, unless granted an extension of no more than 30 days by department for good cause, from participation in the tuition donation program for the current school year and the upcoming school year.

C. Each school tuition organization and the LDE shall redact all names of taxpayers and social security numbers or tax identification numbers before publicly releasing any annual report.

D. The department shall provide the Department of Revenue with copies of all such reports by February 1 of each year.

La. Admin. Code tit. 28, § CLV-705

Promulgated by the Board of Elementary and Secondary Education, LR 39:1027 (April 2013), amended LR 40:499 (March 2014), Amended LR 432481 (12/1/2017).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6301.