It took less than six minutes on 2022’s first working day to max out an annual $1 million cap on Montana’s controversial new state income-tax credit for education donations – but, for public schools, rather than private-school students.
The tax credit of up to $200,000 per taxpayer, passed by the 2021 Montana Legislature’s Republican majority, garnered unified opposition from Democrats because it benefited donors to private-school scholarships.
HELENA — It took less than six minutes on 2022’s first working day to max out an annual $1 million cap on Montana’s controversial new state income-tax credit for education donations – but, for public schools, rather than private-school students.
The tax credit of up to $200,000 per taxpayer, passed by the 2021 Montana Legislature’s Republican majority, garnered unified opposition from Democrats because it benefited donors to private-school scholarships.
But the bill also grants credits for those who give money to public schools for “innovative educational programs” – and, on Monday, 23 donors and the benefitting public schools took only five minutes and 35 seconds to sign up for the entirety of allowable $1 million in tax breaks, for the 2022 tax year.The state Revenue Department said the donations are benefiting 10 schools in nine Montana cities and towns – including a $694,000 donation to Big Sky public schools.
That donor, or donors, will get the maximum $200,000 credit, the agency said – but their identify, like all individual tax information, is confidential.
Private-school students didn’t miss out on the first-day rush for the tax credits, either, although scholarship organization serving them have received far less, so far.
