Educational Improvement Tax Credit

Program Information

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

Student Participation

  • Family income cannot exceed $85,000, with an additional $15,608 allowed for each additional dependent
    • Income adjusted annually to reflect growth of the Consumer Price Index
  • Private school students are also eligible
  • For special needs students, family income cannot exceed $85,000, with an additional $15,608 per dependent multiplied by 1.5 for students not enrolled in special education schools or 2.993 for students enrolled in special education schools
  • Comply with the federal Civil Rights Act of 1964
  • Meet state health and safety codes
  • Conduct background checks on teachers and other employees working with children
  • Be a nonprofit entity
    • Use at least 80% of contributions for scholarships
  • Make scholarships available for more than one school
  • Submit annual report detailing donations received and scholarships awarded and proof of a financial review by a certified public accountant

Data Update

Scholarships Awarded
34,433
Schools Participating
N/A
SOs Operating
260
2016 Donations
$75,038,180

Financial

Scholarship Cap
- Tuition and fees
Tax Credit Value
- 75 percent of one-year donation
- 90 percent of two-year donation
Donor Tax Credit Cap
- $750,000
Statewide Cap
- $110 million