Education Tax Credit Program

Program Information

  • STC
  • Program Type: Scholarship Tax Credit Program, Means Tested, Corporate

Student Participation

  • Family income cannot exceed 300% of the federal poverty guidelines ($75,300 for family of four in 2018)
  • Private school and homeschool students are also eligible
  • Comply with state home education law
  • Use at least 90% of contributions for scholarships
  • Comply with state and federal antidiscrimination and privacy laws
  • Be registered with the director of charitable trusts
  • Be approved by the state
  • Award at least 40% of scholarships to students who qualified for free and reduced-price lunch ($46,435 for family of four in 2018) in the final year they were in public school or who received scholarships the previous year
  • Must not restrict scholarships for use at a single school and not reserve scholarships for specific students
  • Award at least a certain percentage of scholarships to students who either:
    • Currently attend a New Hampshire public school, including a chartered public school; or
    • Received a scholarship in the prior program year (the percentage of students who must meet one of these requirements is specified in state law and changes each year)
  • Submit to the state:
    • Total number and dollar amount of scholarships awarded and the percentage of students eligible for free or reduced-price lunch for each of the student eligibility categories
    • Total dollar amount of donations spent on administrative expenses
    • Total carryover dollar amount
    • Total dollar amount of contributions used and not used for scholarships
    • Number of scholarships distributed, per school, and the dollar range of those scholarships
    • Analysis, by ZIP code, of the place of residence for each student receiving a scholarship
    • Number of students who graduated and the number who dropped out of school

Data Update

Schools Participating
54
SOs Operating
2
2017 Expenditures
$713,091
Private School Scholarship Expenditures
$690,141
Homeschooler Expenditures
$22,950

Financial

Scholarship Cap
- $2,655 (average of all SO scholarships)
- At least $4,646 for students receiving special education programs or services
- Scholarship for homeschooled students is limited to 25 percent of $2,655 (program’s average scholarship)
- The scholarship cap will increase by the annual growth of the Consumer Price Index, beginning in the second year of the program
Tax Credit Value
- 85 percent of donation
Donor Tax Credit Cap
- No more than 10 percent of the aggregate amount of tax credits permitted in a given year
Statewide Cap
- $5.1 million
- Cap is allowed to increase by 25 percent in any year after 80 percent of the cap is reached