| Scholarship or Voucher Value: |
Each SO determines the amount of the scholarships it distributes.
|
| Student or School Participation: |
The total size of the program statewide will be capped at $1 million. Each corporate donor can receive only $100,000 in tax credits each year, and cannot use surplus donations in one year to generate tax credits in future years (as is permitted in some states).
|
| Student Eligibility: |
Students must have family incomes at or below 250 percent of the poverty level ($50,748 for a family of four in 2006).
|
| Legal Status of Program: |
No challenges have been made to this program.
|
| Regulations on the Program: |
A CPA must certify that each donation was made. SOs must use 90% of their donations for scholarships each year, and may not restrict scholarships to a single school. Donations may not be designated for particular schools or students. SOs must annually report the number of scholarships distributed at each school, the dollar range of the scholarships, the ZIP codes of students receiving scholarships, and a description of all criteria used to determine which applicants receive scholarships.
|
| Research on Program: |
|
| News on Program: |
|
| Governing Statutes: |
Title 44-62 of the Rhode Island General Laws
|
