Bill would raise cap on private school scholarships funded by insurance companies

A bill beginning its journey through the Legislature would create more private school scholarships funded by insurance companies in exchange for tax relief. The legislation would raise the annual tax-credit cap for insurance companies from $3.5 million to $5 million. The companies get state tax credits in exchange for donations to a private-school scholarship program for low-income students, which legislators authorized in 2016. “It’s an attempt to give parents a choice in how their kids are educated,” said Sen. Jim Stalzer, R-Sioux Falls. “We’re at a point where we need to raise the amount or create a waiting list.” The bill passed the Senate Taxation Committee 6-1 on Friday, as the fi

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