The Corporate Income Tax Credit Scholarship Program Saves State Dollars
Report 08-68, December 2008
- The corporate income tax credit scholarship program produces a net savings to the state. We estimate that in Fiscal Year 2007-08, taxpayers saved $1.49 in state education funding for every dollar loss in corporate income tax revenue due to credits for scholarship contributions. Expanding the cap on tax credits would produce additional savings if there is sufficient demand for the scholarships. The Legislature may wish to consider expanding the program when the level of tax credits awarded approaches the cap and there is a sufficient waiting list of students who could use the scholarships.
- Including insurance premium tax credits in the scholarship program would broaden its funding base and increase the probability that the tax credit cap is reached. Currently, not all insurance companies in the state have an incentive to participate in the program.
- Private school representatives indicated that incentives would not encourage their schools to have their scholarship students participate in the FCAT.
Many Florida Programs Enhance Students' Career and College Readiness
Report 10-56 November 2010
Legislature Should Examine Several Issues When Considering a Tax Credit Program for Business Donations to Public Schools
Report 09-34 October 2009
tax credit, scholarship, school choice, corporate income tax, insurance premium tax, FCAT, step up for students, independent education, private schools