Parental Choice Tax Credit at All Saints
Beginning in January 2024, All Saints Catholic School is excited to offer families an incredible opportunity to benefit from the Oklahoma Parental Choice Tax Credit, which allows parents and guardians to redirect their tax dollars towards tuition at our school. This initiative, also known as House Bill 1934, was signed into law on May 25, 2023, by Oklahoma Governor Kevin Stitt and will become effective starting with the tax year 2024. The Oklahoma Tax Commission is currently working on finalizing the details, and we anticipate having more information available by the end of October.
Here are the key details regarding the Tax Credit:
Households with an annual income of $150,000 or less will receive priority access on a first-come, first-served basis to the allocated $150 million for the Oklahoma Parental Choice Tax Credit in tax year 2024. The credit amount for each child is determined by the total federal adjusted gross income (AGI) of the student's household during the second preceding tax year (e.g., a tax credit for 2024 will be based on the family's AGI in the tax year 2022), ranging from $5,000 to $7,500 per child. The application process will involve multiple steps, including an online application. The application window is expected to be open from December 1, 2023, to February 1, 2024. For more details, please visit the Oklahoma Tax Commission Parental Choice Tax Credit Website.
All Saints Catholic School's Response: We are committed to helping as many families as possible take advantage of this opportunity to make a Catholic education more accessible. All Saints Catholic School is collaborating with the Diocese and other Catholic school leaders in the Tulsa area to develop a tax credit operations plan. Our aim is to provide families with a unified and seamless application process, especially if they have children attending both All Saints Catholic School and other Catholic schools in Tulsa, whether diocesan or private.
Save the Date – Tax-Credit Sign-up Fair at All Saints! While we await more information from the Oklahoma Tax Commission, we encourage you to mark your calendars for a Tax-Credit Signup Fair at All Saints. This event will be held on Saturday, December 9, 2023, 9-11am, to assist families in applying for the Oklahoma Parental Choice Tax Credit. We are currently in the planning stages of this event, and detailed information will be shared in the latter part of November.
Please check this page regularly for updates. If you have any questions, feel free to email us at lking@allsaintsba.org, and one of our administrators will be happy to assist you.
In closing, we ask for your prayers for the success of this initiative. We believe that with the guidance of the Holy Spirit, we can navigate the complexity of transforming this tax credit concept into a manageable operational reality. Your prayers and support are greatly appreciated.
SAVE THE DATE:
Parental Choice Tax Credit Sign-Up Fair at ALL SAINTS CATHOLIC SCHOOL
Tentative Details
All Saints is still in the planning stages of this event, so details are subject to change.
However, we anticipate the fair will look something like this:
Hosted by ALL SAINTS, join us
Saturday, December 9, 2023 from 9:00 AM - 11:00 AM
All Saints Catholic School
299 S Ninth St, Broken Arrow, OK 74012
Who can come to the Sign-Up Fair?
Families attending All Saints Catholic School
What to expect at the Sign-Up Fair:
Computer kiosks for families to register online
Access to digital or hard copies of needed paperwork
Visit the Oklahoma Tax Commission Parental Choice Tax Credit Website