organization for each taxable year which are distributed before the distribution deadline with respect to such receipts. (c) Definitions For purposes of this section— (1) Required distribution amount (A) In general The required distribution amount with respect to a taxable year is the amount equal to 100 percent of the total receipts of the scholarship granting organization for such taxable year— (i) reduced by the sum of such receipts that are retained for administrative expenses for the taxable year or are carried to the succeeding taxable year under subparagraph (C), and (ii) increased by the amount of the carryover under subparagraph (C) from the preceding taxable year. (B) Administrative expenses For purposes of this paragraph, not more than 10 percent of total receipts of a qualified workforce development organization, apprenticeship training organization or scholarship granting organization for a taxable year may be used for administrative purposes. (C) Carryover (i) Qualified scholarship granting organization Receipts of a qualified scholarship granting organization for a taxable year that are not awarded scholarships for the taxable year or retained for administrative purposes for the taxable year shall be carried to the succeeding taxable year. The amount carried to a taxable year under the preceding sentence shall not exceed 15 percent of total receipts of the qualified scholarship granting organization for the taxable year. (ii) Qualified workforce development or apprenticeship training organization Receipts of a qualified workforce development or apprenticeship training organization that are not disbursed for the taxable year or retained for administrative purposes for the taxable year shall be carried to the succeeding taxable year. The amount carried to the taxable year under the preceding sentence shall not exceed 15 percent of total receipts of the qualified workforce development or apprenticeship training organization for the taxable year. (2) Distributions The term distribution includes