State Rep. Joe Sosnowski (R-Rockford) has filed House Bill 1257 to expand and make permanent the Invest in Kids Scholarship Tax Credit Program. Enacted in 2017, the Invest in Kids Act allows individual taxpayers and corporations to donate to designated scholarship granting organizations around the state in exchange for a 75% income tax credit, capped at $75 million. Under current law, Invest in Kids is scheduled to sunset on January 1, 2025.
House Bill 1257 would increase the amount of the tax credit from 75% to 100% and make the Invest in Kids Scholarship Tax Credit Program permanent. Rep. Sosnowski filed the legislation to make the scholarship program more widely available to qualifying families and students throughout Illinois. The bill currently has three co-sponsors including Representative Adam Niemerg (R-Dietrich), Representative Travis Weaver (R-Edwards), and Representative Amy Grant (R-Wheaton).
The Invest in Kids scholarship program gives Illinois students the opportunity to go to the school that best fits their learning needs. Rep. Sosnowski believes that every family deserves the chance to make that choice for their child’s success. Regardless of zip code and income, every child deserves the best education.
Invest in Kids has made school choice available to more Illinois families than ever before. The Invest in Kids scholarship program has awarded more than 37,000 grants to low-income families since it launched in 2018. The scholarships for K-12 students can cover up to 100% of private school tuition up to a maximum of the average Illinois cost to educate, which is roughly $16,000. Students with unique learning needs, including those who are gifted, English language learners, or those with special education qualifications, may be eligible to receive larger scholarships.
The Invest in Kids scholarship program is 100% need-based. K-12 students from low-income and working-class families are eligible to receive a tax credit scholarship.
To learn more, please visit the Invest in Kids webpage by clicking HERE.