Program Information
STC
-
Program Type:
Scholarship Tax Credit Program, Corporate, Individual
- Student Eligibility
- Student must have attended public school the previous year or be entering pre- kindergarten, kindergarten or 1st grade
- School Requirements
- Be accredited or in the process of becoming accredited
- Comply with the federal Civil Rights Act of 1964
- Comply with all state private school regulations, including health and safety codes
-
Student Scholarship Organization (SSO) Requirements
- Use at least 90% of contributions for scholarships
- Make scholarships available for more than one school
- Have an independent board of directors
- Ensure donors cannot designate their donations to any individual student
- Submit annually to the state:
- Data on accepted contributions and tax credits approved
- Independent review of financial statements by a certified public accountant
- Total number of students and total dollar value of scholarships awarded each year
- Publicly disclose annually:
- Total number of scholarships approved
- Total number and amount of donations received
- Household income of scholarship recipients
Data Update
- Schools Participating
- N/A
- SSOs Operating
- 24
- 2017 Donations
- $53,438,854
Financial
- Scholarship Cap
- - 100 percent of state and local per-pupil funding - $9,817 for 2017-18 school year
- Tax Credit Value
- - 100 percent of donation
- Donor Tax Credit Cap
- - $1,000 single
- - $2,500 married couple
- - 75 percent of corporation's state income tax liability
- - $10,000 for corporate pass-through entity
- Statewide Cap
- - $100 million