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Iowa Alliance for Choice in Education
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The Iowa Alliance for Choice in Education (Iowa ACE) was formed in 2005 as an umbrella organization for non-public schools in Iowa. Among its priority issues was ensuring the creation and support of student tuition organizations (STOs). Through legislation passed in 2005, money donated to STOs makes donors eligible for a tax credit of 65% of the amount of their gift. In 2009, the cap for this tax credit is $7.5 million. Former Governor Tom Vilsack signed the Educational Opportunities Act into law in 2006. This legislation allows individual Iowa taxpayers to receive a tax credit equal to 65% of the total amount of voluntary cash contributions donated to an STO. STOs allocate those funds as tuition grants to Iowa students to assist them in attending an accredited nonpublic school. |
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