To amend the Internal Revenue Code of 1986 to eliminate the State opt-in requirement for the qualified elementary and secondary education scholarship credit.

H.R. 10412, introduced by Rep. Adrian Smith (R-NE) on September 16, 2026, proposes to amend Section 25F(c)(5) of the Internal Revenue Code to eliminate the state opt-in requirement for the qualified elementary and secondary education scholarship credit. The bill is currently in the House Committee on Ways and Means, an early stage of the legislative process. It has not been passed, and no companion Senate bill or committee action has been reported. The bill's effective date is retroactive to the date of enactment of Public Law 119-21, but no specific funding is authorized or appropriated.

Because the bill is at the introduction stage, its market impact is procedural and minimal. The causal chain from the bill to any company is indirect: the bill would expand the availability of a tax credit for donations to scholarship-granting organizations, potentially increasing private scholarship funding. However, the bill does not name any company, does not create a new spending program, and does not directly alter the economics of any publicly traded entity. The affected sector is Education, but the impact is diffuse and would depend on future state-level implementation and donor behavior.

No convergence with other legislative candidates was identified in the provided data. The bill is an isolated tax-code amendment with no shared technology class, funding stream, or specific objective with other bills in the candidate set. Therefore, no tickers or causal chains are included.

The legislative path forward includes committee hearings and markup in Ways and Means, potential floor votes in the House and Senate, and presidential action. Given the early stage and the absence of a companion bill, passage in the 119th Congress is uncertain. Retail investors should monitor the bill's progress but should not expect any direct market movement from this legislation.