SB0081 Summary: Opportunity Scholarships

• Establishes the Opportunity Scholarship Program allowing custodians of qualifying pupils in Cook County to receive scholarships for tuition at participating nonpublic elementary schools, with scholarships limited to the lesser of per-pupil state funding or actual tuition costs.

• Creates the Opportunity Scholarship Fund as a special fund in the State treasury to be used by the State Board of Education to issue scholarships to eligible students from low-performing or overcrowded public schools.

• Provides that scholarship amounts received are not considered base income for Illinois income tax purposes and exempts recipients from taxation on scholarship funds.

• Establishes a tax credit allowing taxpayers to claim 100% of contributions made to the Opportunity Scholarship Fund, with a maximum annual credit of $250,000 or 50% of the taxpayer's prior year liability (whichever is greater), with unused credits carryable forward for 5 years.

• Requires participating nonpublic schools to meet non-discrimination standards, participate in the state's longitudinal data system, report attendance data, and allow scholarship students to take state assessments.