09/22/2022
America's classrooms are a hot political battleground. That's nothing new, though experts agree that the political debate around education has reached a fever
Oklahomans want to find the best schools for their children. Equal opportunity scholarships help hundreds of families every year.
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Oklahoma’s Equal Opportunity Education Scholarship Act allows taxpayers — individuals and businesses — to receive state income tax credits when they donate to designated scholarship granting organizations (SGOs) and education improvement grant organizations (EIGOs).
These organizations, which are registered as 501(c)(3) nonprofits approved by the secretary of state, Internal Revenue Service and Oklahoma Tax Commission, provide funds to accredited schools, which then distribute scholarships to deserving low-income families and innovative curriculum grants to rural public schools.
SGOs and EIGOs are required to report on their activities every four years, along with typical annual tax reporting required of all organizations.
Individuals, couples and businesses who donate to these organizations are eligible to receive state tax credits of up to 75%, along with other potential tax benefits. However, because donors in recent years have met the cap the Legislature put on tax credits, some donors’ credits are reduced with the remaining credit suspended until the next year. This leads to fewer donations and, more concerningly, fewer children being able to afford the right schools for their educational needs.