Illinois Tax Credit

Illinois Tax Credit Scholarship Program

Illinois Tax Credit 
Scholarship Program Overview

Invest in Kids Act

In August 2017, the House and Senate passed an education funding bill that was signed into law by the governor. The law includes a provision for tax credit scholarships, which provide strong incentives for donors to support non-public school scholarships for low-income students in the State of Illinois students from low-income families may use these new scholarships to attend a non-public school of their choice.

This new legislation represents a major step forward that will help create more equity in school funding throughout Illinois, and for the first time provide real school choice for students and their families.

What is a tax credit scholarship program?
A Tax Credit Scholarship Program allows taxpayers – individuals, corporations, partnerships or trusts – to donate to Scholarship Granting Organizations (SGO) and receive a credit on their state taxes in return. Peru Catholic School will utilize the SGO entitled Empower Illinois.  Empower Illinois will then use the donations to grant scholarships to qualifying students to attend a qualifying non-public school. However, we are asking individual donors to designate Peru Catholic School when submitting your application for donation to the state of Illinois. This ensures that your tax credit donation will provide a scholarship to a Peru Catholic School student.

Who is eligible to receive a scholarship?
Current Peru Catholic and incoming students, grade K-8, are eligible to receive a tax credit scholarship. Please click on the “Tax Credit Information for Applicants” below for more specific information on eligibility.

  2017 Federal Poverty Line

Family Size

185% Federal Poverty Line

250% Federal Poverty Line

300% Federal Poverty Line

$12,060

1

$22,311

$30,150

$36,180

$16,240

2

$30,044

$40,600

$48,720

$20,420

3

$37,777

$51,050

$61,260

$24,600

4

$45,510

$61,500

$73,800

$28,780

5

$53,243

$71,950

$86,340

$32,960

6

$60,976

$82,400

$98,880

$37,140

7

$68,709

$92,850

$111,420

$41,320

8

$76,442

$103,300

$123,960

$45,500

9

$84,175

$113,750

$136,500

$49,680

10

$91,908

$124,200

$149,040

Scholarship Amount:

 

100% Scholarship

75% Scholarship

50% Scholarship

Who can support the Tax Credit Scholarship Program?
Corporate and individual Peru Catholic School donors as well as incoming and current families are eligible to participate in this new program from the State of Illinois and support our school by selecting the proper designations on their applications.

– Corporate donors will need to designate Region III, of which Peru Catholic School is a member, on their application form.

– Individual donors will need to designate Peru Catholic School/Region III on their application form.

Please click on the specific link below to learn more about this program and how to either make a donation or the requirements for participating in this program as a student/family. If you have additional questions, please feel free to contact:

Mrs. Amy Perona, Principal   815-224-1914  aperona@perucatholic.org

Mr. Russ Courter, Director of Diocesan School Finance, 309-671-1550  rcourter@cdop.org 

Mrs. Susan Stolt, Associate Superintendent of Diocesan Schools 309-671-1550  sstolt@cdop.org 

 

If you have not already, please take a moment to familiarize yourself with the program

by visiting  tax.illinois.gov/InvestInKids.