IL HB5461

Expands the Invest in Kids Act to include non-public pre-kindergarten schools as qualified schools eligible to receive scholarship students

Increases the tax credit for contributions to scholarship granting organizations from 75% to 100% of the contribution amount, and raises the maximum credit per taxpayer from $1,000,000 to $1,333,333

Allows individuals, corporations, partnerships, and trusts to direct contributions to a particular subset of schools or a particular school (previously only individuals could do this)

Establishes new scholarship priority system: first priority goes to students who received scholarships the previous year, second priority goes to students from households at or below 185% federal poverty level, those in focus districts, and siblings of current scholarship recipients

Removes the January 1, 2025 repeal date for the Act and eliminates the provision preventing taxpayers from claiming the credit for tax years beginning on or after January 1, 2024, effectively making the program permanent