Iowa schools to get more than $60 million in Microsoft settlement

Iowa public schools will get more than $60 million for the purchase of new technology as a result of a class-action lawsuit settlement with Microsoft Corporation, Gov. Chet Culver announced Tuesday.

The money is part of a $179.95 million settlement in a class-action suit against Microsoft Corporation alleging that Microsoft overcharged Iowa consumers and businesses for certain products. The Iowa School Microsoft Settlement program was established under the settlement so that Iowa schools would receive approximately half of the funds not claimed by consumers.

Approximately 75 percent of Iowa schools, or more than 1,000 schools, will be eligible to take part in the program. The funds will be distributed to schools through vouchers for software and hardware product purchases.

Eligible schools will receive vouchers ranging in value from $1,000 to $450,000.

Vouchers will be distributed in January 2010. Schools will have until August 16, 2013 to redeem their vouchers.