Indiana’s popular scholarship tax credit program reached its $7.5 million cap this week, generating $15 million for students. The 50% tax credit is awarded to donors who contribute to scholarship granting organizations. The money is then distributed to low-income students attending private schools. Thankfully, the Indiana General Assembly, with the encouragement of Governor Pence, increased the tax credit cap by $1 million for each of the next two fiscal years. The new fiscal year begins July 1st.