HB 2623
An Act amending the act of March 10, 1949 (P.L.30, No.14), known as the Public School Code of 1949, in educational tax credits, further providing for tax credits and for limitations, providing for Pennsylvania Learning Investment Tax Credit, for displaced student scholarship program, establishing the Displaced Student Scholarship Fund and providing for compliance with Federal tax credit; and making an editorial change.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill amends existing Pennsylvania law to create new tax credit programs aimed at supporting educational opportunities for students. It establishes the Pennsylvania Learning Investment Tax Credit, a Displaced Student Scholarship Program, and the Displaced Student Scholarship Fund. These programs provide tax credits to businesses contributing to scholarship organizations and educational improvement organizations, as well as a direct scholarship credit for eligible families. The bill also includes provisions for compliance with federal tax credit regulations and establishes guidelines for the administration of these new programs.
Key provisions
- Creates the Pennsylvania Learning Investment Tax Credit, allowing businesses to claim tax credits for contributions to scholarship organizations.
- Establishes the Displaced Student Scholarship Program, providing scholarships to eligible students attending participating nonpublic schools.
- Creates the Displaced Student Scholarship Fund to administer the scholarship program.
- Provides a tax credit of up to $8,000 per child per year for qualified education expenses.
- Establishes criteria for scholarship organizations to qualify for inclusion in the federal tax credit program.
- Requires school districts to notify parents of the program and displaced student scholarship opportunities.
- Creates a process for participating nonpublic schools to apply and receive scholarship funds.
- Authorizes the Auditor General to conduct audits of scholarship organizations.
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