Oklahoma Parental Choice Tax Credit Act

All Oklahoma students are eligible for a refundable tax credit under the Oklahoma Parental Choice Tax Credit program, provided they have education expenses at an accredited private school or are “educated by other means” (e.g. homeschooling). _(Last updated July 15, 2024)_

Qualifying expenses for students attending an accredited private school include tuition and fees. Taxpayers are instructed to keep their receipts. Students “educated by other means” or homeschooled are eligible to participate in the program. Qualifying expenses for students educated at home include tuition and fees for nonpublic online learning programs; academic tutoring services provided by an individual or a private academic tutoring facility; textbooks, curriculum, or other instructional materials including, but not limited to, supplemental materials or associated online instruction required by an education service provider; and fees for nationally norm-referenced testing including, but not limited to, assessments used to determine college admission and advanced placement examinations; as well as tuition and fees for tutoring or preparatory courses for the assessments. An education service provider can include unbundled courses and services at a public school (district or charter). The program is stackable with Oklahoma’s other private choice programs: Oklahoma Equal Opportunity Education Scholarships (tax-credit scholarship) and Lindsey Nicole Henry Scholarships for Students with Disabilities (voucher). _(Last updated July 15, 2024)_

Parents may receive a refundable tax credit to cover the cost of private school tuition and fees at an accredited private school. Tax credits are tiered based on the household income two-year priors to the application. Payments are disbursed in two equal installments and mailed directly to participating schools to be restrictively endorsed. Family Adjusted Gross Income (AGI) | | Maximum Tax Credit Amount (per child in private school) ---|---|--- | | | | $74,999 and below | | $7,500 $75,000.01 – $150,000 | | $7,000 $150,000.01 – $225,000 | | $6,500 $225,000.01 – $275,000 | | $6,000 $275,000.01 and above | | $5,000 Alternatively, parents may receive a refundable tax credit of $1,000 per child to cover the cost of home education expenses. Initial scholarship amount will range from $5,000 to $7,500 for recipients attending private schools. For tax year 2024, the tax credit program was limited by the $150 million appropriation for families sending students to accredited private schools. The program shifted from a calendar year to a fiscal year on July 1, 2024, with a program cap of an additional $100 million for spring 2025. Fiscal year 2026 will be capped at $250 million in provided credits for private school participants. Families claiming a credit for homeschool are limited to $5 million annual, beginning with tax year 2024. _(Last updated July 15, 2024)_

No legal challenges have been filed against the program. _(Last updated July 15, 2024)_