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home : news : state news free January 16, 2018

   
1/4/2018 12:40:00 PM
Taxpayers give $36M to scholarships on 1st day of new credit

CHICAGO (AP) — Illinois Gov. Bruce Rauner says taxpayers pledged more than $36 million for private school scholarships on the first day donors became eligible for a new state tax credit.

Lawmakers approved the controversial $75 million tax credit program last year as part of a school funding overhaul.

Tuesday was the first day individuals and corporations could pledge money and apply for the tax credit, which is worth 75 percent of their donation, up to $1 million. The state caps eligible annual donations at $100 million.

Rauner said in a statement Wednesday the “outpouring of generosity” shows many in Illinois believe families should have a choice in where their children attend school. Critics of the tax credit argue it takes money away from often cash-strapped public schools to benefit the wealthy.





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