Senator Fanning proposes the following amendment (SMIN-285.MW0018S):

Amend the bill, as and if amended, SECTION 1, by striking Section 12-6-3865(b) and inserting:

(b) it allocates at least ninety-eight percent of its annual contributions received during a particular year to provide scholarships to schools on behalf of eligible enrolled children and incurs administrative expenses annually of no more than two percent of its annual contributions for a particular year to cover operational costs;