Nonprofits seek guarantee for scholarship donors
By SEANNA ADCOXAssociated Press
COLUMBIA, S.C. (AP) - Leaders of nonprofits whose purpose is handing out scholarships to special-needs students say they're holding off until the S.C. Department of Revenue can guarantee their donors will get the tax credit they expect.
A bill creating an application process for donors is heading to the Senate Finance Committee.
Legislators last year approved the state's first private school choice program, which took effect Jan. 1. It allows a dollar-for-dollar tax credit for donations toward tuition scholarships for special-needs students. But the credit maxes out at $8 million, on a first-come, first-served basis.
The nonprofits organized to accept donations and provide scholarships want a process assuring credits are still available.
One of the four approved groups has already distributed 56 scholarships. With some exceptions, the others are waiting to cash donors' checks.Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.