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Senator Says bill Closes Loophole in Oklahoma Law (Jan 13, 2012)

OKLAHOMA CITY (AP) - A state senator has filed legislation he says will give more Oklahoma students access to higher education.

Sen. Jim Wilson of Tahlequah says his bill changes the amount of tax credit under the Equal Opportunity Education Scholarship Act and closes a loophole to ensure funds are used only for low-income children.

Wilson says he wants to stop potential abuse of the program that is supposed to help low-income students attend better schools. He says that under current rules families who make over $100,000 a year can still qualify for the program.

Wilson says the law also allows a contributing taxpayer to claim a tax credit for donating to a scholarship fund with virtually no cost. Wilson says the bill would lower the tax credit for scholarship donations to 10 percent.

 



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