Office of Independent Education & Parental Choice
Florida Tax Credit Scholarships Program
news for choice! To encourage private, voluntary contributions, to expand educational
opportunities for children of families that have limited financial resources
and to enable children in this state to achieve a greater level of excellence
in their education, the 2001 Florida Legislature created s. 220.187, Florida Statutes, establishing the Florida Tax Credit Scholarship
Program. In 2010, the FTC Scholarship Program was expanded and renumbered
as Section 1002.395, Florida Statutes.
The law provides for state tax credits for contributions to nonprofit scholarship funding organizations, called SFOs. The SFO's then award scholarships to eligible children of families that have limited financial resources. The tax credit cap for the current year is $357,812,500. The tax credit cap amount will increase to $447,265,625 for the 2015-2016 state fiscal year.
Families interested in participating in the Florida Tax Credit Scholarship Program should contact an eligible Scholarship Funding Organization directly.