A bill to amend the Internal Revenue Code of 1954 with respect to the tax-exempt status of, and the deductibility of contributions to, certain private schools.

[AI summary unavailable — showing source text] Grants to private schools an exemption from the tax imposed on corporations under the Internal Revenue Code. Allows individuals a tax deduction for charitable contributions for the use of private schools. Defines the term "private school" for the purposes of this Act.…