Board adopts policy to participate in Oklahoma equal opportunity education tax credit program

The Broken Arrow Board of Education adopted a policy to permit district participation in Oklahoma's equal opportunity education tax credit program, which allows eligible individuals and businesses to receive tax credits for qualifying donations that support public education.

An administrator told the board the policy (drafted with OSSBA counsel) would: establish the board's authority to approve qualified organizations; outline eligibility and reporting requirements; and provide oversight for donations made through the program. Staff said the Broken Arrow Public Schools Foundation would be the first organization the district would approve under the policy and that the foundation must complete required tax paperwork before the board approves participating organizations by resolution.

The presenter summarized financial caps discussed by staff: a statewide cap of roughly $25,000,000 and a district cap in the neighborhood of $200,000; taxpayers could receive up to a 50% credit on qualifying contributions subject to statutory limits. The policy includes eligibility and reporting duties and requires ongoing transparency to state officials on a periodic basis.

A board member moved to adopt the policy, it was seconded, and the roll-call vote was unanimous.

Next steps identified: the foundation must complete internal board actions and tax filings; the board will later consider resolutions approving any organization to participate and will exercise oversight of which educational programs donations will support.