The Educational Opportunities Act, signed into law on June 2, 2006, allows Iowa taxpayers contributing to School Tuition Organizations within the state to claim a 65% direct tax credit against Iowa income taxes.The new law received strong bi-partisan support in both houses of the Iowa legislature, where it passed the Iowa Senate by a vote of 49-1, and the Iowa House by a vote of 75-19.
Under the new law, two or more accredited non-public schools join together to form a school tuition organization, receiving contributions that provide tuition assistance to students living in families with income of less than three times the federal poverty level.
The five Scott County K-12 Catholic schools (All Saints Catholic, Assumption High School, John F. Kennedy, Our Lady of Lourdes, and St. Paul the Apostle) have combined to make up the Mississippi Valley School Tuition Organization.
Passage of the Educational Opportunities Act provides a great opportunity to fund the tuition assistance needs of local Catholic school students. With broad based support, the five year objectives of Embracing Our Future have now become far more sustainable.
Click to see a copy of the Iowa bill.
PDF version - Word version
Click here to learn more about school choice and school tuition organizations from the Friedman Foundation, a national school-choice advocacy organization.