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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | May 20, 2016 09:37 AM |
|---|---|
| From: | Representative Mike Tobash |
| To: | All House members |
| Subject: | EITC and Career and Technical Education |
In the near future, I plan to introduce legislation to increase the amount of available tax credits under the Educational Improvement Tax Credit (EITC) program for career and technical schools. Connecting job creators and our educational system is critical for Pennsylvania’s success and it’s clear that we need more students learning skills in the trades. Under the current program, career and technical schools can receive EITC donations from businesses that contribute to educational improvement organizations (EIOs); however, no amount of credits is specifically allocated within the category of EIOs for businesses that contribute to these schools. To ensure that CTCs can further benefit from the EITC program, my legislation will set aside $10 million within the category of EIOs for businesses that make contributions to EIOs that provide grants to career and technical schools. My bill will increase the total amount of credits available for contributions to EIOs from $30 million to $40 million in order to accommodate this set-aside. Furthermore, my legislation will ensure that any credits not awarded under the set-aside for career and technical schools by October 1 of each year are reallocated to the general category of EIOs. I hope that you will join me in co-sponsoring this legislation. Thank you for your consideration. |
Memo Updated: May 20, 2016 09:38 AM