A bill that would create more oversight and regulation for tax credits provided to charter schools has passed through the state house.
The Closing EITC (Educational Tax Credit) Reporting Gaps bill will require more oversight for $680 million in tax credits allowed for non-public education institutions.
House Bill 2632, would increase oversight of scholarship-granting organizations, target resources to students living in the attendance area of a low-achieving public school, increased transparency on scholarships granted, and expanding funding to include childcare costs.
A decade ago, there was a $150 million cap on available tax credits and the Independent Fiscal Office has reported that “key data necessary to thoroughly evaluate the program are not available.”
The bill passed along party line with two Republicans joining Democrats to pass the bill.
The bill now advances to Senate Committees.
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