The Florida Voucher Cap Cost Limit Allows for a Stunning Rise to Almost $1 Billion

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Florida Public Employees

Florida_School_Voucher_ProgramMarch 17, 2014

By  – Scathing Purple Musings

When a Florida superintendent of schools said last week that the expansion of Florida’s voucher program would rise to $1 billion in five years, he knew what he was talking about. From the text of SB 1620:

Scholarship Funding Tax Credit Cap Limits.—The Department of Revenue may approve annual tax credit amounts under s. 1002.395 or s. 1002.396 until the sum of such approvals under both sections combined reaches the following limit:

(1) Beginning in the 2014-2015 state fiscal year, the limit is $390 million.

(2) In the state fiscal year immediately subsequent to the

first state fiscal year in which the sum of annual tax credit amounts under ss. 1002.395 and 1002.396 is equal to or greater than 90 percent of the limit set forth in subsection (1), the limit is $475 million.

(3) In the state fiscal year immediately subsequent to the first state fiscal year in which the sum of annual tax credit amounts under ss. 1002.395 and 1002.396 is equal to or greater than 90 percent of the limit set forth in subsection (2), the 1110 limit is $590 million. 1111

(4) In the state fiscal year immediately subsequent to the first state fiscal year in which the sum of annual tax credit amounts under ss. 1002.395 and 1002.396 is equal to or greater than 90 percent of the limit set forth in subsection (3), the limit is $730 million. 1116

(5) In the state fiscal year immediately subsequent to the first state fiscal year in which the sum of annual tax credit amounts under ss. 1002.395 and 1002.396 is equal to or greater than 90 percent of the limit set forth in subsection (4), the limit is $873.6 million.

Scathing Purple Musings wrote yesterday about the incestuous relationship that exists among the Scholarship Funding Organizations in the state. Palm Beach Postreporter John Kennedy points out this morning that these organizations intake in taxpayer money will triple.

Its not clear who wrote the bill which republican House Speaker Will Weatherford first announced. With voucher advocates balking at being held to the same test-based standards as Florida’s public school children are held to, its fair to wonder who these advocates are really advocating for.

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