The ceiling of the tax credit reached for donations to scholarship organizations | 406 Politics

“There is tremendous interest in these credits and for taxpayers who donate to public school districts and scholarship organizations,” Zammit said Tuesday.

In a Jan. 21 memo, Zammit said seven scholarship organizations had registered and been approved through the department’s donation portal. Organizations include ACE Scholarships, Big Sky Scholarships, Holy Spirit Catholic School, Intermountain Children’s Services, Missoula Catholic Schools Foundation, St. Mart Catholic School, St. Matthew Catholic School and the The Way Christian School.

There were 64 donors who made 69 contributions with an average amount of just under $14,500. Of these donations, 55 were made by individuals and nine were from businesses.

On the public side, Zammit told lawmakers there were requests for pre-approval of donations totaling more than $1.5 million, showing that the request exceeded the cap. It’s also likely a low estimate of what was attempted to be donated, Zammit said.

“As we move forward into 2023 and 2024, it’s very likely that we’ll hit that 80% threshold,” Zammit said. “Where it ends up plateauing is a little hard to try to decipher or discern.”

Zammit said that on the technical side of the process, things went well from a revenue department perspective, even with the crushing of demand from the public side.

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