Lee’s school voucher bill could cost $335M over next five years
Governor Bill Lee’s latest proposal to increase the amount of public dollars that can pay for private tuition and other expenses will cost Tennessee 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.