Governor Daniels wants a tax credit for charitable donations that fund scholarships.
The Indiana School Scholarship Tax Credit program would provide a 50 percent state tax credit for charitable contributions to qualified scholarship programs serving lower-income families.
Children in grades kindergarten-12 could qualify for scholarships to help attend the public or private school of their choice.
The program passed the Indiana Senate with bipartisan support earlier this spring on two occasions.
A May 2009 study by researcher David Stuit, a fellow with the Friedman Foundation for Educational Choice, found that a scholarship tax credit would result in significant net savings for the state.
For example, the analysis model found that at an average scholarship of $2,500 or less, the state would realize at least $13.4 million in net savings alone in the first year.
“In a fiscal crisis, the program could provide the state with much needed savings and struggling families with much needed choices,” Executive Director of School Choice Indiana Network Jeff Brantley said.
More information here.
Sounds good. I hope it becomes law.
H/T The Foundry