Protect and expand the Invest in Kids Act

Summary

This bill to preserve Illinois’ tax credit scholarship program does the following:

1) Gets rid of the 2023 sunset provision and makes the program permanent

2) Provides “superpriority” status for kids who are currently in the program so they have greater assurance of being able to continue in their current schools

3) Provides 100% credit for donations against state income taxes, increased from current 75% credit

4) Allows businesses to designate particular schools as the recipients of their donations, as individuals can do under current law

5) Expands the program to include pre-K students, in addition to kids in K-12, who are currently eligible

6) Gives schools flexibility to offer more partial scholarships, rather than limiting them to current scholarship levels set by statute

Last Action

Assigned to Revenue & Finance Committee