The main purpose of this legislation is to eliminate a specific tax credit that currently benefits individuals who contribute to scholarship granting organizations. The goal is to redirect public funding back to public schools rather than allowing it to be used for private education through these scholarships. Key provisions of the legislation include the repeal of the tax credit for contributions to scholarship granting organizations, which is outlined in the Internal Revenue Code. This means that individuals will no longer receive a tax benefit for donating to these organizations.