School Choice

In June of 2023, Governor Stitt signed into law the Refundable School Choice Tax Credit. Many of the specific details will be released in August of 2023, but here is what we know at the moment:

• This is a refundable tax credit that can be applied for by the parent or legal guardian who pays tuition for a student
• The tax commission will directly distribute funds to the parent which will then be used to pay for private education
• The amount that each family can receive per student is income based according to the following household incomes:
  • $7500 per child for below $75,000
  • $7000 per child for $75,000 – $150,000
  • $6500 per child for $150,000 – $225,000
  • $6000 per child for $225,000 – $250,000
  • $5000 per child for over $250,000
• The refundable tax credit will begin in the 2024 tax year There is a cap to the total funds being dispersed as follows:
  • $150 million in 2024
  • $200 million in 2025
  • $250 million from 2026 onward

• Funds will eventually be dispersed in 2 installments at the beginning of each semester