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VOL. 43 | NO. 17 | Friday, April 26, 2019

New voucher bill to cost $335M in 5 years

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NASHVILLE (AP) — The Latest on Tennessee's voucher-like legislation moving through the General Assembly (all times local):

12:25 p.m.

Gov. Bill Lee's latest proposal to increase the amount of public dollars that can pay for private tuition and other expenses will cost taxpayers more than $335 million over the next five years.

Lee's bill was originally estimated to cost $125 million to fund the so-called education savings account bill. However, after various amendments and changes, the latest fiscal analysis has the bill's funding total much higher.

The first year would cost the state $771,000, but then quickly escalate over the next five years with year four costing the state $110.6 million and then another $147.5 million by the fifth year.

Under the proposal, families who meet income requirements in certain schools districts could receive up to $7,300 in state funds to spend on private tuition.

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