SB0668 Summary: Opportunity Scholarship Act

• Establishes the Opportunity Scholarship Program allowing custodians of qualifying pupils in Cook County to receive scholarships for tuition at participating nonpublic elementary schools; eligible students must attend low-performing or overcrowded public schools.

• Creates the Opportunity Scholarship Fund as a special state treasury fund with money used by the State Board of Education to administer the program; scholarship amounts equal the lesser of state funding per pupil or actual education expenses.

• Provides scholarship amounts are not considered base income for Illinois income tax purposes, making them non-taxable to recipients.

• Allows taxpayers to claim a tax credit equal to 100% of contributions made to the Opportunity Scholarship Fund, with a maximum credit of $250,000 or 50% of prior year tax liability (whichever is greater), and allows unused credits to carry forward up to 5 years.

• Requires participating nonpublic schools to report student attendance data and participate in the state longitudinal education data system; establishes penalties as Class 3 felonies for misuse or fraudulent applications.