41 Days of School Choice: Day 8 Rhode Island, Small State Helping Children’s Education in a Big Way
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Washington, D.C. (August 13, 2014) – The American Federation for Children, the nation’s voice for educational choice, today continues its #41Days of School Choice initiative by celebrating the Rhode Island Corporate Scholarship Tax Credit. The Rhode Island Corporate Scholarship Tax Credit helps low-income children all over the state receive the high-quality education they deserve.
This means tested program was enacted 2006 and has received more than $ 1.6 million in donations from local businesses. Businesses within the state receive corporate tax credits for participating in the program which awards scholarships to students in K-12th grades in need of education options outside of the public school system. The program was enacted with and continues to receive broad bipartisan support within the state.
The Rhode Island Corporate Scholarship Tax Credit program was expanded in 2014, raising the corporate tax credit cap to $1.5 million dollars. Corporate donors are capped at $100,000 and companies who participate receive up to 90 percent of their donations in tax credits.
Program Facts:
- In order to eligible, family income cannot exceed 250 percent of the federal poverty guideline ($58,875 for a family of four in 2013)
- Scholarship granting organizations must use at least 90 percent of contributions for scholarships
- Must provide an annual report to the state detailing number and value of scholarships awarded, ZIP codes of recipients, and criteria used to award scholarships
Throughout the 41 Days of School Choice campaign, the American Federation for Children will be promoting programs using the hashtag “#41Days”.
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The American Federation for Children is the nation’s leading school choice advocacy organization and works in states across the country to help secure additional, high-quality educational options for families.