Concerns: This bill amends the Parental Choice Tax Credit passed two years ago to remove the monetary cap on funding this tax credit.
As the current Parental Choice Tax Credit stands, there is a money cap to prevent too many people from receiving the tax credit. If SB229 is passed, it would amend the bill as such, “For fiscal year 2027 and subsequent fiscal years, there shall be no limit to the amount of credits authorized by paragraph 1 of subsection C of this section.”
This bill removes the monetary cap that the original tax bill has. We should be concerned about the unlimited amount of funds this could potentially take from the state.
This could cause taxpayers to pressure politicians to regulate where that money is going and what it is spent.
As usual, HSOK recommends NOT taking the parental choice tax credit.
