A private-school tax credit bill to families whose children don’t attend public schools and to increase funding for public school needs as well as to raise salaries for all Oklahoma teachers will resume to the state Senate after the House approved it on Wednesday.
Private School Tax Credit And Teacher Pay Raise Proposal Passes House (PHOTO: Oklahoman)
The Private School Tax Credit Bill And Teacher Pay Raise Proposal
House Bill 2775, which passed in a 78-20 vote, would increase salaries for all Oklahoma teachers by $2,500 and pump an extra $300 million into public school funding to support additional school staff raises and classroom needs, suggested by Speaker Charles McCall, R-Atoka. The $300 million investment would apply to every pupil basis, and no district could receive more than $2 million in added funds. Oklahoma families could receive $5,000 in private-school tax credit r each child they send to private schools under House Bill 1935, which passed in a 75-25 vote. Students who are educated by other means beyond public schools, such as home-schooling, would count toward up to $2,500 in refundable private-school tax credits.
Here’s How To Qualify For The Private School Tax Credit
Eligible recipients would have to submit receipts showing they spent money on eligible expenses, such as private-school tuition, tutoring, and instructional materials. Moreover, the bill also would put another $50 million into Redbud grants for school facilities. Families would have to show itemized receipts of educational costs to receive the tax refund. HB 2775 does not contain a household income limit to qualify.
Low-income families with limited state tax liability could receive checks for most, if not all, of their tax credit amounts. Higher-earning Oklahomans could accept the tax credits off the top of their adjusted earnings. Furthermore, about 37,000 students attend private schools in Oklahoma, according to Private School Review. McCall evaluated the private-school tax credits would cost the state $300 million if every student already homeschooled or attending a private school applied.
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