New law brings hope to scholarship recipients

Gov. Jan Brewer has signed into law SB 1047 that will essentially double the amount people can contribute in the Arizona school tax credit program.
The law expands the tuition tax credit limits of $500 for individuals and $1,000 for married couples to $1,000 and $2,000, respectively. The new donations are targeted toward students switching from public to private schools.
SB 1047 is designed this way to not only help many more children, but also to save the state money as the average tax credit scholarship is far less than the cost it would be to educate them in public school.
In response, Arizona’s Catholic Tuition Support Organization (CTSO) has begun gathering information from parents who are interested in sending their children to one of the Diocese of Tucson’s 26 Catholic schools.
“The financial component is especially hard,” said Gracie Quiroz, executive director of CTSO. “More than 48 percent of the families enrolling in our schools need financial assistance.”
CTSO has already brought in $5.8 million in new contributions, she said, “but we have already estimated that it will take more than $11.5 million to fund 100 percent of these families’ financial need.”
With the extended deadline until April 15 for tax credit contributions, CTSO hopes that Arizona taxpayers take advantage of this opportunity.
“CTSO has high expectations that the newly enacted SB 1047 will help close that gap,” Quiroz said.
For the 2012 tax year, individuals can contribute up to $503 for the individual income tax credit and an additional $500 to the second individual tax credit program. Taxpayers must maximize the first credit before making a donation toward the second individual tax credit.
“It will double the amount for couples filing jointly up to a total of $2,006,” Quiroz said.
The new bill is designed to not only help many more children, but also to save the state money as the average tax credit scholarship is far less than the cost of public school education.
“I encourage all taxpayers who have not yet made a tax credit contribution to please consider supporting Catholic education,” Quiroz said. “Any questions, please call me at (520) 838-2572.”