Capitol - Your Illinois News Radar » $36 million pledged for new scholarship program on first day
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
To subscribe to Capitol Fax, click here.
$36 million pledged for new scholarship program on first day

Wednesday, Jan 3, 2018

* Peoria Journal Star

Jan. 1 may be the start of the new year, but Jan. 2 marks the start of a controversial new program that adds up to millions in tax breaks for Illinois residents and millions more in scholarships for private-school students.

If Illinois follows the history of other states, taxpayers will be up and online early Tuesday, snapping up a maximum of $75 million in tax credits available for making donations to the Invest in Kids Scholarship Tax Credit Program.

The tax credits, administered by the Illinois Department of Revenue, translate to as much as $100 million in scholarship donations to parochial and private schools throughout the state.

* Last week

“Many of my clients are very interested in it,” said Neil Kawashima, a tax attorney with McDermott, Will & Emery who counsels wealthy individuals and families. “Obviously [there’s] the philanthropic benefit of helping low-income children obtain scholarships for tuition to private schools and parochial schools, but also there are significant tax benefits as well.”

He expects all the tax credits the state has set aside could be claimed within “days” because there are annual online stampedes for the credits in other states with similar plans.

* Crain’s

And if other states are any indication, Illinois will want to brace for some serious interest: In Georgia, one of 17 others with a similar subsidy, all available tax credits have been snapped up by donors on New Year’s Day each year since 2015.

Illinois apparently ain’t Georgia.

* Governor’s office press release…

Illinois’ new Invest in Kids scholarship program — which gives low- to middle-income students opportunities to attend non-public schools that best meet their educational goals — attracted more than $36 million in pledged contributions on Tuesday, Jan. 2, the first day the state began accepting applications, Gov. Bruce Rauner announced today.

Taxpayers can contribute up to $1.3 million to eligible organizations and receive an income tax credit equal to 75 percent of their approved contributions. The state caps total yearly contributions at $100 million.

“When we unleash the power of private-sector investment incentives like Invest in Kids, great things are possible,” Rauner said. “Within its first hour of going live, more than one-third of all Invest in Kids contributions have been allocated for the 2018 tax year. This outpouring of generosity is truly a testament to the many Illinoisans who believe in offering students and their families a choice in their education.”

Taxpayers wishing to contribute to Invest in Kids may apply online through MyTax Illinois, the Illinois Department of Revenue’s free online account management program.

Individuals and businesses must apply to the Illinois Department of Revenue to obtain Contribution Authorization Certificates that permit them to make authorized contributions to one of the approved scholarship granting organizations. Those organizations, in turn, provide scholarships for eligible Illinois students to attend qualified non-public schools in Illinois. The application process ensures equal access to the $75 million in tax credits available each year.

- Posted by Rich Miller        

  1. - Oswego Willy - Wednesday, Jan 3, 18 @ 2:43 pm:

    When you misled a Catholic Cardinal, you’d hope to make it up somehow.

    Rauner wants that $100 million to offset HB40

    Raunerism has a price for everything.

  2. - wordslinger - Wednesday, Jan 3, 18 @ 2:44 pm:

    Looks like football and basketball recruiting in the Catholic League is off to a fast start.

  3. - Grand Avenue - Wednesday, Jan 3, 18 @ 2:46 pm:

    With the SALT capped and the standard deduction doubled, the federal tax advantages of charitable contributions are a lot less in 2018 than 2017, except for really big givers (because a lot fewer people will itemize and if you don’t itemize, no charitable deduction).

  4. - Piece of Work - Wednesday, Jan 3, 18 @ 2:53 pm:

    Grand, good people give to charities because it is the right thing to do. You don’t give $100 to save $10+, you do it to help people in need.

  5. - OK - Wednesday, Jan 3, 18 @ 3:01 pm:

    Pierce -

    Try give $100 to save $75.

    And maybe a federal tax benefit on top of that if they structure it the right way.

  6. - Texas Red - Wednesday, Jan 3, 18 @ 3:08 pm:

    This will open up educational choice to low/middle income families that happen to live in failing school districts.

  7. - Nick Name - Wednesday, Jan 3, 18 @ 3:23 pm:

    How many AFSCME families would be able to contribute if only Rauner had complied with the tolling agreement and paid step increases?

  8. - Huh? - Wednesday, Jan 3, 18 @ 3:27 pm:

    Anyway to find out who has made the donations?

  9. - Nick - Wednesday, Jan 3, 18 @ 3:34 pm:

    Any way to find out which schools?

  10. - Sue - Wednesday, Jan 3, 18 @ 3:44 pm:

    Nick Name- I am sure that’s just what your Union breatheren would be using the step increases for

  11. - Nick - Wednesday, Jan 3, 18 @ 3:47 pm:


    I bet they’d be more apt to make more charitable gifts whether it be to the scholarship program or other worthy causes

  12. - Demoralized - Wednesday, Jan 3, 18 @ 4:00 pm:

    ==This will open up educational choice to low/middle income families that happen to live in failing school districts.==

    Only if you live in an area where there are choices. And only if you get picked - because, you know, private schools get to pick who they want to come in.

  13. - Demoralized - Wednesday, Jan 3, 18 @ 4:00 pm:

    ==Union breatheren==

    Sigh. New year. Same union hate.

  14. - Lucky Pierre - Wednesday, Jan 3, 18 @ 4:00 pm:

    This could not have passed without good Irish Catholics Mike Madigan and John Cullerton also wanting to make it up to the Cardinal OW.

  15. - Texas Red - Wednesday, Jan 3, 18 @ 4:08 pm:

    “Any way to find out which schools?”

  16. - illini - Wednesday, Jan 3, 18 @ 4:13 pm:

    Unfortunately, as I understand it, the new tax laws will potentially have a negative impact on monies that many private, and public, Universities have come to expect for their endowments. Higher Ed could take a real hit that will impact the financial aid they can offer prospective students.

  17. - Anonymous - Wednesday, Jan 3, 18 @ 4:43 pm:

    What happens to the money I’ve donated if my kid doesn’t get into a private school?

  18. - SAP - Wednesday, Jan 3, 18 @ 4:55 pm:

    ==Looks like football and basketball recruiting in the Catholic League is off to a fast start.== I’d like to make an early nomination for comment of the year.

  19. - Sue - Wednesday, Jan 3, 18 @ 6:08 pm:

    Demoralized- considering what public sector unions have done to Illinois- I have a lot of company. Perhaps you don’t mind seeing our State destroyed and people leaving by the bus load

  20. - Demoralized - Wednesday, Jan 3, 18 @ 7:05 pm:

    ==Perhaps you don’t mind seeing our State destroyed==

    Perhaps I don’t blame unions for all of the ills in the state. But then again I’m not a hater looking for a single scapegoat for everything.

  21. - Lucky Pierre - Wednesday, Jan 3, 18 @ 8:04 pm:

    I think we know who would win the majority vote to be the single scapegoat for all of Illinois problems

  22. - Ariel - Wednesday, Jan 3, 18 @ 8:35 pm:

    You get the best Web advertising and marketing options.

  23. - wordslinger - Wednesday, Jan 3, 18 @ 10:32 pm:

    –This could not have passed without good Irish Catholics Mike Madigan and John Cullerton also wanting to make it up to the Cardinal OW.–

    LOL, it was a chi-chi bean face-saving out for Rauner to get the schools open.

    The man made a fool of himself in front of the cameras claiming that his veto of the “Chicago bailout bill” could be sustained by a “simple majority.” He demonstrated that he literally did not have a clue about his job.

    His deer-in-the-headlight flop-sweat when he was called on it marked the end of the media’s kid-glove treatment.

    As a white male, I believe that was BTIA’s(TM) signature moment.

  24. - Oswego Willy - Wednesday, Jan 3, 18 @ 10:41 pm:

    ===This could not have passed without good Irish Catholics Mike Madigan and John Cullerton also wanting to make it up to the Cardinal OW.===

    Did Cullerton or Madigan lie to the Cardinal?

    Blase Cardinal Cupich only listed Rauner fibbing to him.

    Good try, thou.

  25. - - Thursday, Jan 4, 18 @ 5:27 am:

    Amazon Web Providers is an Equal Alternative Employer.

  26. - Whatever - Thursday, Jan 4, 18 @ 8:31 am:

    OK and Grand Avenue — the credit is allowed for these contributions only if the contributor does NOT claim a federal income tax deduction for the contribution.

TrackBack URI

Post your comment... And please take a half second to come up with a nickname. It makes following the posts easier for everyone... Thanks

In other words, do your best to be civilized and smart.

* Reader comments closed for the weekend
* Rauner issues executive order barring legislators from representing clients at PTAB
* Kennedy: Limit top progressive income tax rate to less than 6 percent
* Question of the day
* Next week's House session cancelled
* *** UPDATED x2 - Pritzker "Did Chris Kennedy Just Endorse Bruce Rauner?" - Kennedy campaign tries to explain *** Kennedy says Rauner "should be applauded" for "trying to do what he thinks is best for the state of Illinois"
* Sen. Donne Trotter retires
* Illinois payrolls were up just 0.5 percent last year
* Vitriol continues in Durkin's primary race
* *** UPDATED x1 *** Judge clears courtroom in Rauner lawsuit hearing
* You can't "fully inform" voters without money
* State agrees to a $400 million consent decree
* Rate Prizker's new online ad
* Rauner gets another property tax press pop
* Emanuel pokes Rauner over Amazon comments
* Rauner's new Pritzker ad cost just $11,900
* Kennedy unveils health care plan
* Gov. Rauner gets his own blog
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's stories

Visit our advertisers...






* New session will bring new efforts at Illinois .....
* Republican Primary Challenger Jeanne Ives Stops.....
* Democratic Candidate for Attorney General Nancy.....
* Democratic Attorney General Candidate Kwame Rao.....
* The Sunday Spin: Politics with Rick Pearson Ful.....
* WBBM’s At Issue: Bob Fioretti, Candidate for Co.....
* Ives discusses marijuana, DACA as she looks to .....
* Rauner order bars lawmakers from property-tax a.....

* Sangamon County Jail increases inmate mental health services
* Truck driver charged in fatal accident in West Virginia
* U of I's capital plan will focus on facilities
* Bald eagle takes flight at Litchfield lake after rehab
* Bill would give rural Illinois schools high-speed internet
* Northern Illinois utility says customers can get assistance
* EXCHANGE: Basketball bookends Vietnam veteran's story
* EXCHANGE: Brown's Chicken murders changed business forever
* Thousands protest Trump at Illinois women's marches
* $1.9M in Mellon Foundation grants aid UIC humanities studies

* Rauner order bars lawmakers from property-tax appeals
* Outdoor sports participants hoping for larger cut in farm bill
* U of I trustees approve 4th-straight tuition freeze
* Rauner to air extended ad of Pritzker, Blagojevich on wiretap
* Mendoza to keynote Women's March Saturday in Springfield
* Chicago mayor vows to step up Amazon second headquarters bid
* Under the Dome Podcast: More Blago-Pritzker talk, Rauner confirms Duke is racist
* U of I withdrew 35 job offers after background checks
* Frerichs: Can't get tax break for using college savings plan on private K-12 tuition
* Illinois governor to air extended ad of rival, Blagojevich on wiretap

* How important is job flexibility? Our survey wants to know.
* Like our roundup? Share it around.
* What you need to know about the L.A. Times 'frat-boy executive' scandal
* Law firms' 2018 resolution: Less paper
* Could this company become Chicago's own Salesforce?

* Judge facing trial doesn’t want jurors to hear ‘Englewood,’ ‘South Side’
* Amazon to debut cashier-less store in downtown Seattle
* Patriots will return to Super Bowl after rallying to beat Jaguars
* Anti-Trump protesters rally downtown
* 2 ‘Dreamers’ in Chicago wait for word on program’s future — and their own
* At comedy festival touched by harassment, panel of women looks for solutions
* Fred Hoiberg, Bulls players aren’t about to apologize for ruining tank job
* Senate moderates to pitch leaders on plan to end shutdown
* UIC student goes on ‘Shark Tank’ to pitch his idea for a better weight clip
* What Matt Nagy’s coordinator search tells us about the Bears head coach’s style

* Moderate senators race to strike a deal to end government shutdown
* Moran: Waukegan joins the list of communities swinging and missing at Amazon's HQ2
* Patriots storm back to knock off Jaguars 24-20, advance to 8th Super Bowl in 17 seasons
* One year after Trump inauguration, protesters march in Loop
* Billionaire couple from Toronto were murdered by multiple people, private investigators believe
* Actions will speak louder than words for Blackhawks
* A year of Trump's 'America First' agenda has radically changed the U.S. role in the world
* Larry Nassar case shows courage of victims, shamefulness of enablers
* Shut down this shutdown habit
* J.J. Watt, Greg Olsen and Benjamin Watson finalists for NFL's Walter Payton Man of the Year award

» Chicago Schools Chief: Cost A Driver In Special Ed Overhaul
» One Year Later, Women’s March Demands More Than Attendance
» State Week: Education Funding, Pritzker-Blagojevich, Rauner-Duke
» Sheriff Offers To Help Review Police Shootings In Suburban Cook County
» A Prescription For Fruits And Veggies: One Solution To Food Insecurity in Illinois
» A Call For Transparency
» 2 Illinois Governor Candidates Spend $26M In Last 3 Months
» State Board of Education: Double School Funding Now
» Lawmakers Demand Fast Internet For Rural Schools
» 2 Dreamers Discuss Helping Other Immigrants Amid Uncertainty

* Rauner goes after Madigan's other job
* Madeleine Doubek: May we better value journalism and the journalists
* Our View: Springfield needs more than a cautious plan for Y block
* Statehouse Insider: Rauner goes after Madigan's other job
* UIS Perspectives: Public affairs internships lead to success
* Petty, Davidsmeyer both decry anti-Petty calls
* Ed Rogers: High stakes for Trump at the World Economic Forum
* Scott Reeder: Formula for political success is to listen to voters
* Rauner order bars lawmakers from property-tax appeals
* Outdoor sports participants hoping for larger cut in farm bill

* 5 juveniles struck by car in St. Louis; 1 in critical condition
* UI Women's Tennis vs Florida State
* Tazewell, Woodford marriages, divorces: Jan. 21, 2018
* Random Acts of Kindness: Stranger rescues dog in rush hour
* Missing 10-year-old from Missouri found safe
* Followup file: Overlook senior housing taking shape in Moline
* Car flipped on its roof in Decatur accident
* Dense fog advisory remains for northern counties
* Calendar: See Macon County government meetings for Jan. 22-26
* Big story: At Joe's, 50 years of haircuts and life lessons

* The Latest: Fight breaks out in Eagles parking lot
* Brady leads Patriots back to Super Bowl, top Jaguars 24-20
* Depay scores winner as Lyon beats league leader PSG 2-1
* Mount Prospect adds free textile recycling to refuse collection
* Bids to start at $1.2 million for Lake in the Hills shopping center

* Our view: End patronage at Algonquin Towns...
* Letters to the editor: Election commission...
* Teacher raised in Yorkville running agains...
* Subcommittee on Financial Institutions and...
* Lawmakers back renaming Warrenville post o...
* This RSS feed URL is deprecated
* Congressman Randy Hultgren Disagrees with ...
* Bipartisan Illinois criticism follows Trum...
* Shutdown Stalemate As Immigration Negotiat...
* Time Magazine's Powerful New Cover Feature...

* This RSS feed URL is deprecated...
* Tom Cotton flip-flops, confirms Trump's pr......
* Open ine: Tom Cotton flip flops, confirms ......
* BND readers sound off on child porn priest......

* This RSS feed URL is deprecated...
* Senator who lost her legs in Iraq calls Tr......
* Senator who lost her legs in Iraq calls Tr......
* Duckworth calls on Congress to reclaim war......

* Patti Blagojevich slams Rauner's campaign ad using Blagojevich FBI wiretap, and other Chicago news
* Women's March: The Sequel, or this time we have a destination
* Sketchbook.
* From Bev Johns: The ISBE and legislators turned a blind eye to CPS special education mess.
* Hearing aids print money and executives steal it.
* Sketchbook.
* Observing Epiphany With A Plunge In The Lake
* Michael Pfeiffer, Former Crew Server, Missing
* Don't Get Conned By The Armani Jacket Scam
* Sketchbook.

* Illinois Awarded Funds to Offer Advanced Training on Detecting Impaired Driving
* Illinois EPA Announces Upcoming Household Hazardous Waste Collection Events
* IEMA Highlights Emergency Preparedness for People with Access and Functional Needs in May - Ready Illinois website offers preparedness tips for people, caregivers
* First Lady Launches Illinois Family Connects
* Governor and Lt. Governor Unveil 2016 Journal of Local Government Shared Service Best Practices

* New Nokia flagship leaks with five camera lenses and Snapdragon 845
* Android 8.0 Oreo will roll out to Sprint HTC U11 on Monday
* Apple's New iPhone X Video Focuses on Selfies Taken With Portrait Lighting
* Samsung Galaxy S9 internal change, Razer Project Linda dates & more – Pocketnow Daily
* Women’s March embraces collaborative social app Crunchet
* Portrait Camera App 'Focos' Gains Real Lens Optical Effects and Improved Shooting Mode
* Shell wants to turn smartwatches into smartphones on a wing (or two)

* Advocating for retired non-numbers
* Getting ready for Soxfest 2018
* White Sox seeking new flagship radio home
* Engel working to steady barrel in Year 2
* WLS parent company looking to end White Sox radio deal
* Inbox: Who replaces Rodon in the rotation?
* 2018 South Side Sox Hall of Fame Ballot

Main Menu
Pundit rankings
Subscriber Content
Blagojevich Trial
Updated Posts

January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005


RSS Feed 2.0
Comments RSS 2.0

Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller