paragraph as of January 1 of such calendar year, with such increase to remain in effect for the subsequent calendar year. (b) First-Come, first-Serve For purposes of applying the volume cap under this section, such volume cap shall be applied based on a first-come, first-serve basis, as determined based on the date on which the taxpayer made the qualified contribution. (c) Real-Time information For purposes of this section, the Secretary of the Treasury (or the Secretary's delegate) shall develop a system to track the amount of qualified contributions made during the calendar year for which a credit may be claimed under section 25F or 45AA of the Internal Revenue Code of 1986, with such information to be updated in real time. 4. Exemption from gross income for scholarships for qualified elementary or secondary education expenses of eligible students (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following new section: 139J. Scholarships for qualified elementary or secondary education expenses of eligible students (a) In general In the case of an individual, gross income shall not include any amounts provided to any dependent of such individual pursuant to a scholarship for qualified elementary or secondary education expenses of an eligible student which is provided by a scholarship granting organization. (b) Definitions In this section, the terms qualified elementary or secondary education expense , eligible student , and scholarship granting organization have the same meaning given such terms under section 25F(c). . (b) Conforming amendment The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before the item relating to section 140 the following new item: Sec. 139J. Scholarships for qualified elementary or secondary education expenses of eligible students. . 5. Organizational and parental autonomy (a) Prohibition of control over scholarship