Families want options in schooling, businesses want a well-educated workforce. A tax credit proposal in Maryland nicely ties those two concerns together. 

According to the Maryland Public Policy Institute, “The BOAST tax credit proposal would provide up to $25 million in partial tax credits to Maryland businesses that make contributions to support education. Specifically, the bill would allow businesses to make up to $15 million in contributions to non-profit organizations that fund tuition scholarships to non-public schools. Businesses would also be allowed to contribute up to $10 million to organizations that fund initiatives to improve public education. Businesses participating in the BOAST tax credit program would be able to receive a partial tax credit (worth 75 percent of the donation) for qualifying contributions.” 

The Institute’s report, School Choice Options for Maryland (PDF), points out that tax credits for educational purposes exist in other states, including Arizona, Florida, Iowa, Pennsylvania, and Rhode Island. The report describes some of these other programs, and explains the benefits that could flow from implementing a similar program in Maryland.