HB 5101 - Education Funding Summary

• Modifies scholarship programs (McKay, Florida Tax Credit, Hope, Gardiner, and Reading) by revising eligibility requirements, award calculations, and administrative expense limitations.

• Expands Florida Tax Credit Scholarship Program eligibility to include students with household income up to 260% of federal poverty level (previously 185%) and adds foster care status as a qualifying condition.

• Reforms district education funding formulas including changes to district cost differentials, virtual education contribution calculations, and eliminates the funding compression allocation effective July 1, 2019.

• Renames and revises teacher and principal scholarship programs (Best and Brightest) as allocations, adjusting award amounts and classroom teacher eligibility criteria based on performance evaluations.

• Requires district school boards to report how categorical funds transferred for school safety are expended and allows up to 5% of tax credit scholarship contributions to be carried forward to the following fiscal year.