Updated March 15, 2019

Governor  Bill Lee says his school voucher plan will now cost $125 million over the next five years in his pursuit to allow more parents to use state funds to pay for their children's private education.

According to the proposal provided Thursday, parents of students in certain low-income school districts could receive $7,300 to pay for approved expenses.

The governor announced the initial investment in the program would be $25 million in 2019. However, the plan calls for an additional $25 million until the program launches in 2021. This means the program will have accrued $75 million by its first year. The plan will then invest an additional $25 million each year the program exists.

Enrollment would be limited to 5,000 students in its initial year, but the cap would increase by 2,500 students if the enrollment maximum is met in the following year.

People with the governor's administration say they don't expect to reach the 5,000 student cap in the first year.

If that cap is reached and the program expanded, the program has language that would allow it to add more money to the yearly investment.