HB 2328 Updates Lexie's Law Eligibility
On May 5, 2014, Governor Brewer signed into law HB 2328, which makes significant changes to the disabled/displaced corporate tax credit program (Lexie's Law). Despite the $5,000,000 annual cap on corporate tax credits through this program, over half of the allotted money was being left unused, mainly due to the strict requirement that a student could only be eligible for a scholarship from the funds if they are a "switcher" from public to private school or qualified for a scholarship when originally switching and has continued to attend a qualified school. To ensure that all students that are disabled or displaced can be eligible for these funds, the new law removed the "switcher" requirement. The law took effect on July 1, 2014.
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ADOR Releases Updated STO Manual
The Arizona Department of Revenue released an updated version of the STO Manual on July 7, 2014. The update includes the compliance questionnaire for the year ended June 30, 2014. It also clarifies for organizations that the STO is responsible for verifying a student's eligibility for switcher or corporate scholarships through the school or other STOs, provides updates from the Lexie's Law change, and updates contact information for ADOR. |
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ADOR Releases 2013 Summary
ADOR also released the FY 2013 Summary of STO Credits in Arizona. The report outlines trends and totals for all Arizona school tuition organizations taken from the fiscal year 2013 reports. The report is a great resource for comparing your organization's performance with other STOs. |
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