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U.S. Treasury Issues Final Regulations on Charitable Contributions and State and Local Tax Credits

TULSA, OKLAHOMA (June 12, 2019) – Yesterday, the U.S. Treasury Department issued final regulations addressing the treatment of charitable contributions to programs that allow for state income tax credits. Under the Tax Cuts and Jobs Act, state and local tax deductions were capped at $10,000. These updated regulations clarify that individuals and businesses cannot get a charitable contribution deduction resulting in state tax credits. However, to protect long-standing tax credit scholarship programs, the Treasury Department offered relief for businesses and…

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Mount Olive Lutheran School and WovenLife Joins the Opportunity Scholarship Fund

TULSA, OKLAHOMA (May 7, 2019) – The Opportunity Scholarship Fund is excited to welcome two new member schools to its program - Mount Olive Lutheran School in Miami, Oklahoma and WovenLife in Oklahoma City.  These schools, along with our 64 other member schools, join the growing number of private schools that help lower-income families to provide an affordable education option for their children. Started in 1976, Mt. Olive Lutheran School is led by Dan Douglas, a parent of three young…

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Statement Regarding Failure of SB 407

Over 5,000 students won’t have access to much needed scholarships OKLAHOMA CITY (April 25, 2019) – Rob Sellers, executive director of the Opportunity Scholarship Fund, released the following statement regarding the failure of the House of Representatives to hear SB 407 after the third reading deadline Thursday. This legislation, in part, would have raised the cap on tax credit scholarships for families in Oklahoma. “We appreciate all the representatives who supported this bill, but we are disappointed that more of…

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