| Scholarship or Voucher Value: |
Each SGO determines the amount of the scholarship it distributes. |
| Student or School Participation: |
As this is a new program there is no data on participation. |
| Student Eligibility: |
Eligibility is limited to students who have legal settlement in Indiana, are between five and 22 years of age, have been or are currently enrolled in a participating school, and are a member of a household with an annual income of not more than 200% of the amount required to qualify for the federal free or reduced price lunch program; and either 1) Was enrolled in a public school in the previous year; 2) Is enrolled in kindergarten; 3) Received a scholarship in the previous school year from a nonprofit organization that qualifies for certification as an SGO; or 4) Received a scholarship in the previous school year under this program.
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| Legal Status of Program: |
No legal challenges have been filed against this program. |
| Regulations on the Program: |
SGOs must be IRS 501(c)(3) charitable organizations who contribute at least 90% of their annual receipts under the tax credit to scholarships. All SGOs must conduct and annual financial audit, demonstrate financial viability to the Dept. of Revenue, and make financial information available for public review. Participating schools must be accredited by a state, national, or regional accreditation agency. They must also administer a national norm-referenced standardized test and/or the ISTEP+. Any taxpayer, whether an individual or a corporation, may apply to receive a 50% credit for donations made to certified scholarship granting organizations. The total amount of credits is limited to $2.5 million. Note: As this is a new program, additional guidelines for SGOs and taxpayers are being developed by the Department of Revenue.
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| Research on Program: |
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| News on Program: |
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| Governing Statutes: |
IC 6-3.1-30.5 |
