Bill > HB3147

This bill reenacts the Invest in Kids Act and makes it permanent, extending a tax credit program that provides scholarships to low-income students to attend non-public schools in Illinois. The bill allows taxpayers to receive a 75% tax credit for contributions to scholarship granting organizations, with an annual statewide cap of $75 million. Scholarships are prioritized for students who previously received scholarships, students from low-income households, students in focus districts (schools with low performance), and siblings of current scholarship recipients. The scholarship amount varies based on the student's household income, ranging from 50% to 100% of the statewide average public school operational expense per student. The bill extends the tax credit for contributions to scholarship organizations through tax years beginning on or after January 1, 2025, and validates all previous actions taken under the Invest in Kids Act. The legislation also requires participating schools to administer standardized assessments and report student performance, and scholarship granting organizations must use at least 75% of their contributions for scholarships. By reauthorizing the program, the bill aims to continue providing educational opportunities for students from lower-income families by supporting their attendance at non-public schools.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3147&GAID=18&DocTypeID=HB&SessionID=114&GA=104