The We Believe In You Act mandates the State Board of Education to create a program that covers the fees for high school equivalency exams for low-income individuals, defined as those with household incomes at or below 150% of the federal poverty guidelines. The Board will outline the application process and the necessary documentation for income verification. Additionally, the bill establishes the We Believe In You Fund within the Department of Education, which will receive appropriations and donations to support the payment of these exam fees.

To incentivize contributions to the fund, the bill allows taxpayers to deduct the total amount of their donations from both gross income and corporation business taxes. This financial support aims to enhance access to high school diplomas for low-income individuals, thereby improving their employment opportunities and potential lifetime earnings. The bill emphasizes the importance of a high school diploma as a critical step toward economic security and reducing poverty and unemployment rates among those without a diploma.