Tag: EFTC
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Gov. McKee (D) signs bill to require governor, legislature agreement before opting into Education Freedom Tax Credit
On June 18, Rhode Island Governor Dan McKee (D) signed H 7163 which requires the Rhode Island General Assembly and the governor to approve any effort to opt into the Education Freedom Tax Credit (EFTC). It specified that the state may only participate if the legislature passes a bill that the governor signs, but does…
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U.S. Treasury previews guidance for federal Education Freedom Tax Credit scholarship program
On June 10, the U.S. Department of the Treasury issued a preview of the forthcoming guidance implementing the Education Freedom Tax Credit (EFTC) scholarship program, which is set to take effect on Jan. 1, 2027. President Donald Trump (R) enacted the tax credit as part of the One Big Beautiful Bill Act (OBBBA). The statute…