Are there guardrails around how the tax credits are used by parents? A family can’t claim more than its actual spending on tuition and fees, and uniforms purchased directly from the school. To reduce fraud, the Oklahoma Tax Commission will mail taxpayers’ payments to the school in two installments, half in the spring and half in the fall. Parents will need to go to the school in person and either sign the check over to the school or collect the check if tuition and fees have already been paid. The Tax Commission said it will audit questionable claims and recapture credits that were awarded on behalf of a student no longer attending a private school or enrolled in a public school. How does the funding for these tax credits affect local schools? As a tax credit, the program reduces overall tax collections to the state, but lawmakers capped that each year so it’s limited to $150 million in 2024, $200 million in 2025 and $250 million in 2026 and beyond. Funding for the tax credits does not come from educational appropriations or out of the school funding formula. If the state experiences a revenue failure, the credits will be reduced proportionately.
What about homeschool parents? Can they also qualify? Yes, homeschooling parents can claim up to $1,000 per student for curriculum, textbooks, tutoring, testing fees and other qualified expenses. Taxpayers may claim that credit on their income tax return starting in 2025. The Legislature capped this program at $5 million per year. What do parents need to know to apply? The application and more information are available at parentalchoice.ok.gov. Editor’s note: Oklahoma Watch is a nonprofit, tax- exempt, 501(c)3 corporation that produces in-depth and investigative journalism as a public service for the benefit of all Oklahomans. Jennifer Palmer covers education for Oklahoma Watch and has nearly 20 years of news reporting experience. Learn more about the organization at oklahomawatch.org, and sign up for Palmer’s weekly Education Watch updates at oklahomawatch.org/ newsletters.
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