More Florida Vehicle Buyers Can Support Student Scholarships This Labor Day Weekend
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New Law Expands Eligibility for Tax Credit Election
Labor Day weekend has traditionally been a popular time to purchase a new or used
vehicle, with dealerships offering financing incentives, cash-back offers and discounts.
This year, Florida car buyers have another reason to pay attention when making their
purchase. Legislation approved by Florida lawmakers in July expands the number of vehicles
eligible to participate in the Florida Tax Credit Scholarship Program. HB 7031E increases the
allowable net vehicle weight from 5,000 pounds to 8,000 pounds for qualifying vehicles.
The change means more Floridians purchasing or registering vehicles, including larger
family SUVs, electric vehicles and certain vehicles commonly used for business purposes, can
elect to redirect up to $105 of the state sales tax they already owe to Step Up For Students, a
state-approved scholarship funding organization serving Florida students and families. There is
no additional cost to the vehicle buyer or registrant.
For Floridians planning to take advantage of Labor Day vehicle promotions, preparation
can help make the most of their purchase. Shoppers may want to research models and local
inventory in advance, compare financing options from banks, credit unions and dealerships, and
understand the value of a vehicle they plan to trade in.
More Florida Vehicle Buyers Can Support Student Scholarships This Labor Day Weekend
But finding value in a vehicle purchase can extend beyond the final price. When
purchasing or registering an eligible vehicle in Florida, buyers can elect to redirect up to $105 of
their required state sales tax to the Florida Tax Credit Scholarship Program. The election does
not increase the amount of tax owed. Instead, it directs a portion of the tax already being paid
toward scholarships that help Florida students access educational options that best meet their
individual needs. That means a transaction Floridians are already making can also become an opportunity
to support student success.
When purchasing or registering an eligible vehicle, Floridians should ask the dealership
finance manager or tax collector representative for the Motor Vehicle Sales Tax Credit Election
form (Form DR-HS1), and designate Step Up For Students as your Scholarship Funding
Organization of choice. By making the election, vehicle buyers can help support educational
opportunities for Florida students at no additional cost.
About Step Up For Students
Step Up For Students is the state-approved nonprofit Scholarship Funding Organization (SFO)
that administers several scholarships for Florida schoolchildren, including the Florida Tax Credit
Scholarship Program (FTC). This year, more than 500,000 students are utilizing the state’s Pre-
K-12 scholarship programs to access learning options of their choice. These scholarship
opportunities are made possible by people in our community who continually step up for Florida
students. Through tax credit programs, individual donations, workplace giving, planned giving,
and more, they enable our students to thrive from pre-school through high school and beyond.
For more information, visit www.StepUpForStudents.org.
