18. Rhode Island-Corporate Scholarship Tax Credit Program

Program type: Tax Credits for Corporations for contributions to scholarship organizations

Description: The Rhode Island Corporate Scholarship Tax Credit Program provides tax credits to corporations that contribute to Scholarship Organizations (SOs). Corporations receive a credit valued at 75 percent of the contributions made or 90 percent if the second-year donation is worth at least 80 percent of the first year's donation, with a maximum credit of $100,000. The state has capped the amount of credits available to $1 million. In order for students to be eligible for these corporate scholarships they must be from families whose income does not exceed 250 percent of the federal poverty level.

Number of participants: This is a new program for the 2007-08 school year.

Authorizing statute: Rhode Island General Law § Chapter 44-62

Legislative history: The Rhode Island Corporate Scholarship Tax Credit Program was signed into law on June 30, 2006. The program began on Jan. 1, 2007.

Judicial history: No legal suits have been filed regarding the program.

For more information, see: http://www.allianceforschoolchoice.org/
school_choice_programs.aspx?IICatID=1215&IIID=2823.