Educational Opportunity Scholarship Tax Credit

Program Information

  • STC
  • Program Type: Scholarship Tax Credit Program, Means Tested, Means Preferenced, Failing Schools, Corporate
  • Eligibility: Means-Preferenced
     

Student Participation

  • Children residing within the attendance boundary of a low-achieving school (bottom 15% of schools based on state assessments)
  • Preference given to:
    • Students who received a scholarship during the previous year
    • Students from households with a family income that does not exceed 185% of the federal poverty guidelines ($46,435 for family of four in 2018)
  • Family income cannot exceed $77,648, with an additional $15,530 allowed for each additional dependent (income threshold adjusted annually to reflect growth of the Consumer Price Index)
  • For special needs students, family income cannot exceed $77,648, with an additional $15,530 per dependent multiplied by 1.5 for students not enrolled in special education schools or 2.9993 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
  • Use at least 80% of contributions for scholarships
  • Make scholarships available for more than one school
  • Submit to the state an annual report detailing donations received and scholarships awarded, including the exact number of scholarships and the total and average amounts of scholarships awarded to students from households with a family income that does not exceed 185% of the federal poverty guideline
  • Submit a copy of a financial audit conducted by a certified accounting firm

Data Update

Scholarships Awarded
14,556
Schools Participating
938
SOs Operating
190
2016 Donations
$41,276,338

Financial

Scholarship Cap
- Whichever is less:
-- $8,500 (for non-special education students)
-- $15,000 (for special education students)
-- 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
- $50 million