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Gov. Fallin Signs HB 1693

Governor Fallin signed HB 1693 last week. It passed the House and Senate by large margins. HB 1693 was designed to improve the current legislation authorizing our OSF. The bill was carried  State Representative Kevin Calvey and State Senator Kyle Loveless. ENHANCED TAX CREDIT: The most universal improvement was the change of the benefits to multi-year donors. Effective January 1, 2016, donors committing to the same amount for TWO consecutive years will receive 75% tax credits for BOTH years. This an improvement…

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Isabella in Colorado

Published on Apr 25, 2013 (1+ minutes) Isabella's imaginary story shows how a K-12 scholarship tax credit program could work in Colorado. Everybody wins: Kids like Isabella, taxpayers who contribute to nonprofit scholarship organizations, and the public schools that have more money available per student.

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Virginia Scholarships

Published Sep 21, 2011 (6 minutes) This promotional video was made in 2011. Virginia's Education Improvement Scholarships Tax Credits Program was enacted in 2012 and launched in 2013. The text accompanying the video is below: All Virginia parents should have the right to pick the best school for their child. Learn about the proposed Education Improvement Scholarship Tax Credit, which will enable low income children to receive the same educational benefits as students from higher income families through scholarships. Find out what…

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Disability Discrimination Interpretation

The Law and the Opportunity Scholarship Fund agreement requires schools to state that they will not discriminate in admissions based upon disability. This has caused some concern among schools. It should not. Schools may be concerned that this requirement means they must admit any disabled student regardless of the severity of the disability or the additional resources a school would require to provide. It does not. The following is the position of the OSF Board of Directors. This provision applies…

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Florida’s Tax Credit Scholarships

The Florida program was launched in 2001. In the 2013-14 school year alone, the program awarded almost 60,000 scholarships at an average value of $4,663 each. The program is capped at $286 million in tax credits.  There is no personal income tax in Florida so all the generated scholarship money is from private business. Florida businesses receive generous dollar for dollar tax credits. It is estimated that 30% of Florida's students can qualify for the scholarships whereas 80% of Oklahoma…

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May 2014 Legislation Offers OSF Improvements

The enabling legislation was amended in May 2014. Two important elements were added. Three Year Donations: One was the 75% tax credit for Year One of a three-year commitment. But that benefit will not be effective until January 1, 2015.  Until then there is no additional benefit beyond the 50% tax credits. Pass Through Business Entities: The other was the treatment of subchapter S corporations and other “pass through business entities” as businesses entitled to the maximum $200,000 contribution. But that benefit will…

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