As the Alliance for School Choice press release explains:
In a major victory for Arizona families, Governor Jan Brewer today signed “Lexie’s Law,” a $5 million corporate scholarship tax credit initiative designed to enhance educational opportunities for children with special needs and foster care students.
Under the new initiative, corporations can receive a dollar-for-dollar tax credit for making donations to organizations that provide scholarships so that children with special needs and foster children can attend private schools. The bill also allows insurance companies—which do not pay state income tax—to receive credits based on the insurance premium taxes they pay. This addition introduces a broad new category of businesses to the Arizona school choice equation and will aid participating children in the both the new program and the Corporate School Tuition Organization Tax Credit.
Today’s action by Governor Brewer will provide a continued avenue to educational opportunity for students who faced uncertain futures as a result of the recent State Supreme Court decision invalidating two voucher programs. In addition, a new category of children with physical or mental impairments—those with “504 plans”—will also be eligible to participate in the new program.