Florida Gov. Rick Scott on Friday signed into law a bill expanding the state’s tax-credit scholarship program for low-income students.
Florida’s tax credit scholarship program is the largest of its kind in the country, currently serving more than 38,000 students. It’s funded by corporations that receive a dollar-for-dollar tax credit in return for contributions.
The bill increases the cap on contributions by $10.25 million next year, to a total of $229 million. The current cap is $175 million, but by law it was set to rise to $218.75 million next year. More about the bill here.