Oklahoma Gov. Mary Fallin today signed into law the Oklahoma Equal Opportunity Education Scholarship Act, which will provide tax credits to individuals and businesses which will donate to nonprofit organizations that distribute private-school scholarships to eligible families.

Under the Oklahoma Equal Opportunity Education Scholarship Act, children in families with incomes up to 300 percent of the amount needed to qualify for the federal Free and Reduced-Price Lunch program will be eligible to receive scholarships. The scholarship-granting nonprofits will also spend a portion of their expenditures for low-income students in an amount equal to or greater than the percentage of low-income students in the state.

“This legislation is another victory in a year of nationwide progress toward the goal of giving families access to effective educational options for their children,” Robert Enlow, president and CEO of the Foundation for Educational Choice, said. “More parents now will have the power to choose the best education for their children. Most importantly, more children will have the chance to receive an education that prepares them for success in life.”

Suitable students will receive scholarships worth up to $5,000 or 80 percent of the average per-pupil expenditures in the school districts where they reside and will not exceed the tuition fees and transportation costs of attending a private school.