NH Senate approves tax credits for scholarships
CONCORD, N.H.—New Hampshire's Senate is giving preliminary approval to a business-funded scholarship program to send students to private or out-of-district public schools.
The Senate voted 15-9 in favor of the program, which would give businesses a tax credit equal to 85 percent of their donations.
The money would be funneled through "scholarship organizations," which would provide scholarships averaging below a $2,500 limit to start but would be adjusted annually. Home-schooled children could receive one-fourth of that limit for educational expenses.
The bill regulates the scholarships to low- and middle-income students, unlike a similar bill in the House.
Opponents questioned the proposal's constitutionality and cost, but sponsor Jim Forsythe, a Strafford Republican, contended similar programs were working well in eight other states.
The bill now heads to the Finance Committee.