Illinois Latest to Embrace Tax Credits for Independent School Tuition

(from the Chicago Tribune) Illinois private schools could benefit from at least half a billion dollars in tax credit-based scholarships over the five years beginning in 2018 under a new state education funding law targeting low- to moderate-income families. Students could receive annual awards as high as $13,000, though most scholarships are expected to benefit parochial schools, where tuition is generally lower. An advocate for the program has been the Chicago archdiocese, whose current enrollment of 78,000 students is less than half of what it was in 1980.

Illinois is among nearly 20 states that now have a tax-credit scholarship program. The Illinois program will be funded largely by contributions from corporate and individual donors, who then get a 75 percent state tax credit, up to $1 million.

Read the full article at the Chicago Tribune.

See all news items on NetAssets.org.