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Do Private Schools in Florida Need a Surety Bond for the Tax Credit Scholarship Program?

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The State of Florida Department of Education regulates both public and private school institutions. They also are responsible for scholarship accountability and compliance related to private schools that participate in the program.

Florida Statutes 1002.421 further details the accountability of private schools participating in state school choice scholarship programs, tax scholarship programs and the requirements for participation.

1. Must be a registered Florida private school and comply with anti-discrimination provisions.
2. Notify the Department of Education of the schools intent to participate in the scholarship program and of any location (mailing or physical), school name or school director changes.
3. Complete student enrollment and attendance verification requirements.
4. Annually complete and submit a scholarship compliance statement.
5. Must demonstrate fiscal accountability by:
a. Schools must be in operation for at least three school years or a surety bond will be required for the amount equal to the scholarship funds for any quarter. Instead of a surety bond, a letter of credit of equal value can be filed with the state.
b. Require each parent of any scholarship student to personally endorse any scholarship checks.
6. Meet all state and local health, fire safety, building safety, welfare laws, codes and rules.
7. Require that all teachers have a minimum of a bachelor’s degree or higher, three years teaching experience or have special skills, expertise or knowledge to teach instruction in subject matters.
8. Any employee or contracted employee must submit fingerprints for a background check.

How Much Will This Bond Cost?

The premium that you pay for a Florida Private School Participating in the Florida Tax Credit Scholarship Program Surety Bond varies by the bond amount required.

Contact Our Surety Bond Specialists Today At:

Phone: 1‑844‑432‑6637
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday

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