House Bill 3705 from Speaker Kyle Hilbert, R-Bristow, raises the program’s cap from $250 million to $275 million. The program provides a $5,000 to $7,000 tax credit for parents whose children attend eligible private schools.
According to the Oklahoma Tax Commission, $248.4 million was spent on the program last year.
Stitt originally called for the cap to be eliminated. Instead, the final version of the bill stipulates the cap cannot exceed $275 million for future years.
Though the program was billed as a way to help lower-income families afford private school, data from the Oklahoma Tax Commission show more than $56 million was awarded to families with incomes of over $225,000. Families with incomes of $75,000 or less received $55 million.
According to data from Private School Review, tuition at Oklahoma private schools has increased 61% since the 2023-24 school year.
The passage of the bill was also the stipulation for the enactment of another bill: a $2,000 pay raise for public school teachers. Senate Bill 201 by Sen. Adam Pugh, R-Edmond, was sent to the governor’s desk Monday.
Rep. Chad Caldwell, R-Enid, praised the passage of the bill in a news release and pointed to the program’s popularity. According to the OTC, nearly 27,000 applications were submitted on the first day the application window opened for the upcoming school year.
“Parents, not the government, should have the power to decide the best educational path for their child,” Caldwell said. “I’m glad the Legislature and the governor responded to the growing demand by expanding the cap for this vital program, so more parents have the flexibility to choose the education their children deserve.”
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