The Florida Legislature
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Office of Program Policy Analysis and Government Accountability

The Corporate Income Tax Credit Scholarship Program Saves State Dollars, Report No. 08-68, December 2008
 
Full report in PDF format
Research Memorandum - Florida Tax Credit Scholarship Program Fiscal Year 2008-09 Fiscal Impact


  • 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.

Which Government Program Summaries contain related information?

Public Schools (K-12 Education)

What other OPPAGA-related materials are available?

  • Report No. 10-56 Many Florida Programs Enhance Students’ Career and College Readiness, published in November 2010.
  • Report No. 09-34 Legislature Should Examine Several Issues When Considering a Tax Credit Program for Business Donations to Public Schools, published in October 2009.

Copies of this report in print or alternate accessible format may be obtained by telephone (850/488-0021), by FAX (850/487-9213), in person, or by mail (OPPAGA Report Production, Claude Pepper Building, Room 312, 111 W. Madison St., Tallahassee, FL 32399-1475).
e-mail address: oppaga@oppaga.fl.gov


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