Parental Choice Tax Credit

Nov. 29 Update from Principal Suzanne Nelson

Dear Saint Mary Families,

As the December 1^st opening of the tax credit application portal approaches, I wanted to send some updated information.

The Parental Choice Tax Credit Zoom Webinar from before Thanksgiving has been rescheduled for Wednesday, November 29^th from 4:00-5:00 PM. There will not be a recording of this webinar.

Please click the link below to join the webinar: https://us02web.zoom.us/j/86180395838

Or One tap mobile (by entering the meeting by phone): +16699006833,,86180395838#

Enrollment Verification Forms – These are needed for application and will be emailed directly to participating families from Merit International, Inc. Merit is the company the Oklahoma Tax Commission has partnered with to administer this program. The School of Saint Mary has submitted all the required information so watch for an email from Merit.

Sign Up Help – Saint Mary will not be partnering with Bishop Kelley for sign up fairs as previously announced. Since the dates for those are a full week after the application portal is scheduled to open, we feel it is better to offer help earlier. We will be setting up a station in the office starting Friday, December 1^st for any Saint Mary patron who would like help with the application process. Anyone wishing to utilize this will need to make an appointment by sending an email to [email protected] and come with all the required information and documents ready to upload.

Things Needed to Apply

An Enrollment Verification Form
A copy of your 2022 Oklahoma Income Tax Return
The name, address, and social security number or individual taxpayer identification number (ITIN) of the taxpayer
The name, address, date of birth, and social security number or individual taxpayer identification number (ITIN) for each eligible student
The name and address of the eligible student’s parent(s) or legal guardian(s) if different from the taxpayer

Letter from Suzanne Nelson

My Dear School of Saint Mary Families,

The passage of Oklahoma HB 1934 is an exciting opportunity for families to redirect tax dollars to tuition at the School of Saint Mary. The Oklahoma Parental Choice Tax Credit gives families a fully refundable tax credit based on family income.

Tax Credit Details: Every School of Saint Mary family is eligible for this tax credit. The credit amount for which each child is eligible is determined by the total federal Adjusted Gross Income of the student’s household during the second preceding tax year (i.e., a tax credit received in 2024 is based on family AGI in the tax year 2022), ranging from a credit of $5,000 – $7,500. To apply, there will be a multi-step process involving the family and the school and will include an online application. More details can be found directly on the Oklahoma Tax Commission Parental Choice Tax Credit Website.

The window to apply opens December 1, 2023 and will remain open through February 1, 2024. Students must be enrolled in a private school PreK-12th grade. To apply for 2024, families will submit two year preceding tax documents (2022 tax return) and schools will submit an enrollment verification form. All information will be submitted online through an application portal. Families earning less than $150,000 will be given priority. All other applications will be processed on a first come first served basis until the funds are depleted. Because of this, it is important that families apply as soon as possible once the portal opens on December 1st.

I am including links to two landing pages, one provided by Bishop Kelley and the other by the Diocese of Tulsa. Both are excellent resources as we all work to understand what the passage of HB 1934 will look like for our schools.

Sign Up Fair: Bishop Kelley is planning to host a two day sign up fair which will be available to School of Saint Mary families. More information is available on the BK page linked above.

We, at Saint Mary and in conjunction with Catholic school leaders across the diocese, are working to develop a tax credit operations plan that will facilitate families in applying for the credit. At this time, it seems as if there are still more questions than answers, but we have a good basic plan which we continue to refine as more information becomes available. Please check regularly the websites linked in this letter for updated information regarding the tax credit, and I will continue to provide updates as well as information about how all of this relates specifically to our school.

In Christ,

Suzanne Nelson, principal

Tax Credit Amount and Priority Status

For this year’s applications, families are eligible for tax credits based on their Adjusted Gross Income (AGI) on
their 2022 federal income tax return.

All families are eligible to apply for tax credits, but those families with an AGI of $150,000 or less will be
considered priority and be given access to funds first.

Family Income Tax Credit Availability Priority or Not
$0-$75,000 $7,500 per child per year Priority Group
$75,001-$150,000 $7,000 per child per year Priority Group
$150,001-$225,000 $6,500 per child per year Not a Priority Group
$225,001-$250,000 $6,000 per child per year Not a Priority Group
Over $250,000 $5,000 per child per year Not a Priority Group

Things You Will Need Ready to Apply

An Enrollment Verification Form from the School of Saint Mary
A copy of your 2022 Oklahoma Income Tax Return
The name, address, and social security or individual taxpayer identification number (ITIN) of the taxpayer
The name, address, date of birth, and social security number or individual taxpayer identification number
(ITIN) of the eligible student(s)
The name and address of the eligible student’s parent(s) or legal guardians(s), if different from the taxpayer

Frequently Asked Questions:

I don’t fit in the Priority category, should I even apply?

Yes. While the tax credit will be given first to families in the priority groups, it is possible that there will be
remaining funds for those outside of the priority groups. It is important for families outside of the priority groups to apply as soon as the portal opens as the applications from families not in the priority groups will be
processed on a first come first served basis.

When and how will the checks come from the Oklahoma Tax Commission?

The tax credit checks will be delivered to the school, and the school will contact families at that time with
information on what process to follow. The OTC has not yet provided us with a timeline for these checks.

Can I change my Facts billing schedule in anticipation of receiving the tax credit check?

Unfortunately, no. The billing schedule will remain the same. Any payments due for the spring semester will
continue to be due on their original dates.

Enrollment Timeline

With the passage of Oklahoma HB 1934 , Oklahoma families will be able to receive tax credits to help cover the cost of private school tuition and fees, starting in 2024. Because the tax credit will be applicable to a calendar year rather than an academic year, the credit will stretch across two academic years. A credit received for 2024 will apply to the Spring 2024 semester and the Fall 2024 semester. To be eligible to apply for the tax credit for 2024, applicants must have proof of enrollment both for the current academic year and for the next. A family wishing to apply for the tax credit when the application portal opens on December 1, 2023 will need to be enrolled for the 2024-25 school year to receive the full amount of the tax credit. The School of Saint Mary will provide early enrollment in November for those families wanting to apply for the tax credit, and regular enrollment in January for families not applying for the tax credit.

Currently Enrolled Kindergarten through 7th Grade Students

Applying for State Tax Credit
● November 6, 2023 – Pick up a re-enrollment packet from the school office
● November 17, 2023 or earlier – Return completed re-enrollment packet and $150 per child re-enrollment fee to the school office
● The School of Saint Mary will provide an enrollment verification form upon completion of re-enrollment
● December 1, 2023 – Parents may begin to submit all other required documents through the portal
● Completed applications will be placed in the queue for processing based on a family’s AGI and the order in which the application is received

Not Applying for State Tax Credit

● January 5, 2024 – A re-enrollment packet will be sent home
● January 26, 2024 – Re-enrollment packet and $150 re-enrollment fee due in the school office

Incoming Kindergarten Students

Applying for State Tax Credit

● November 6, 2023 – Pick up an application from the school office
● November 10, 2023 – Last day to return completed application, $150 registration fee, and $30 testing fee to the school office
● Schedule a testing appointment for November 13,14, or 17, 2023
● November 20, 2023 – Letters of acceptance will be sent out
● Families new to the K-8 (Big School) must submit the first month’s tuition for their student before enrollment is complete
● The School of Saint Mary will provide an enrollment verification form upon completion of re-enrollment
● December 1, 2023 – parents may begin to submit all other required documents through the portal
● Completed applications will be placed in the queue for processing based on priority status and the order in which the application is received