HB 2288 passed the House of Representatives on March 10, 2009. It now must be considered in the Senate.

HB 2288 sponsored by Representative Yarbrough (R - Chandler) eliminates the sunset date (June 30, 2011) for the corporate income tax credit for donations to a student tuition organization (STO). Corporate income tax credits for contributions to school tuition organizations (STOs) are capped at $10 million a year with a 20% annual increase in the cap beginning in 2007.
 
Public school budgets are limited to 2% growth per year. But this program grows each year by 20% until 2011 when it is scheduled to sunset. These are misplaced priorities in a state that ranks 51st in per pupil funding for K-12 public schools.

Currently the limit on total corporate tuition tax credits is $14.4 million Next year the limit will grow to $17.3 million.  If this bill passes the limit will be allowed to grow to $20.7 million in 2011 and increase ever year thereafter by 20%. By the time this year’s kindergarten student graduates from high school, the limit would grow to $184.9 million.

HB 2288 Talking Points
Legislators Voting Records on HB 2288