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Study
Appendix I: A Model of School Finance
By
Patrick L. Anderson
,
Richard D. McLellan
,
Joseph P. Overton
, and
Dr. Gary L. Wolfram
, published on Nov. 13, 1997
Contents
Private and Public Financing of Schools
Private School Costs vs. Public School Costs
A Model of State and Local Finance: Assumptions
State Foundation Grant & Local Property Tax Support
Student Count Projections
Private, Public, and Alternative Schools
Universal Tuition Tax Credit Structure
Universal Tuition Tax Credit Dynamics
The Education Market
Price Elasticity of Demand
Price Elasticity of Demand for Michigan Alternative Schools
Predicting Consumer Behavior
Calculating Demand
Applying Constraints to the Model
Likely Migration to Alternative Schools
Limits on Migration
The Fiscal Impact of the Universal Tuition Tax Credit
Effects on Revenue and Expenses
Utilization of the Credit
Fiscal Impact of the UTTC Plan
Tax Savings from the Tuition Tax Credit
Total Spending on Education
A Note on Refundable Versus Non-Refundable Credits
Notes on Data Sources
The Universal Tuition Tax Credit: A Proposal to Advance Parental Choice in Education
Executive Summary
I. The Promise of Parental Choice in Education
II. Michigan Constitutional Restraints on Parental Choice
III. Expanding Parental Choice with a Universal Tuition Tax Credit
IV. Impact of the UTTC on State and Local Finances
Appendix I: A Model of School Finance
Private and Public Financing of Schools
A Model of State and Local Finance: Assumptions
Universal Tuition Tax Credit Dynamics
The Fiscal Impact of the Universal Tuition Tax Credit
Appendix II. Questions and Answers Regarding the Universal Tuition Tax Credit
Endnotes
ADDENDUM
More by Patrick L. Anderson
Time for Another State Tax Cut: It's the Law
Tax Cut Plan Avoids Mistakes of the Past
More by Richard D. McLellan
Adopting a “Lean Government” Model for Michigan
Keeping the Engler Revolution on Track
More by Joseph P. Overton
An Inside Look at the Government-School Mentality
Right-to-Work Laws Accelerate Economic Development, New Study Finds Michigan Losing Ground to Right-to-Work States
More by Dr. Gary L. Wolfram
Commentary: Michigan Stands Out on High Cost of Car Insurance
Reforming Michigan’s Auto Insurance Industry
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