The Illinois Department of Revenue adopted the Invest in Kids Act (effective October 31, 2018), which grants parents income tax credits for contributions to approved Scholarship Granting Organizations (SGOs) (i.e. 501(c)3 corporations) for scholarships to students attending non-public schools recognized by the State Board of Education. Tax credits of up to 75% of the taxpayer’s total qualified SGO contributions can be claimed.
November 2018
