DES MOINES, Iowa (AP) -- The Iowa House has approved more tax breaks for individuals and companies that donate to scholarships for low-income, private school students.
The House approved the measure 96 to 2 on Monday, sending it to the Senate.
The measure would encourage businesses, trusts and other organizations to donate in exchange for a tax break. It also increases the tax break cap from its current level of $8.5 million to $12 million.
Under current law, low-income, private K through 12 students can apply for a school tuition scholarship funded by cash donations from individuals. Bill sponsor Rep. Chris Hagenow, of Windsor Heights, says offering this tax incentive to companies will fund more scholarships.
The Iowa Department of Revenue reports 9,209 students received a scholarship under the program in the 2011-2012 school year.
- Financial Aid
- Iowa House