Pennsylvania 2023-2024 Regular Session

Pennsylvania Senate Bill SB661

Introduced
5/3/23  

Caption

In educational tax credits, further providing for limitations.

Impact

This bill has the potential to reform how educational tax credits function within the state, specifically affecting how businesses engage with the educational funding landscape. By ensuring that contributions are properly allocated across various regions, SB661 intends to foster a more even distribution of resources and encourage businesses in less active areas to participate more significantly. This could lead to improved financial support for schools and educational programs that address regional disparities in funding.

Summary

Senate Bill 661 seeks to amend the Public School Code of 1949 by introducing limitations on educational tax credits. The proposed changes highlight a particular focus on ensuring that tax credits are equitably allocated for contributions from business firms situated in different regions across Pennsylvania. The bill mandates that any unclaimed tax credits should be redistributed to firms in other regions, aiming to enhance participation from businesses in areas that may have previously been underrepresented in state-funded education contributions.

Sentiment

The sentiment around SB661 is mixed, reflecting a blend of support and concern. Proponents of the bill view it as a necessary step towards equitable educational funding that encourages greater participation from private sector contributions. They believe that by focusing on regional allocations, the bill will help to uplift underfunded areas and create a more balanced educational environment. Conversely, some critics argue that the reallocation of unclaimed credits may deter businesses from making contributions, fearing that their efforts may not yield local benefits.

Contention

Notable points of contention surrounding SB661 include concerns over the potential complexities of implementation and the effectiveness of the reallocation process. Critics of the bill highlight worries that unintended consequences may arise if businesses perceive the new guidelines as burdensome or if the distribution fails to meet the unique needs of individual regions. The discussions emphasize the challenges of ensuring that equitable measures do not inadvertently disadvantage certain areas or create administrative hurdles for businesses aiming to contribute to educational funding.

Companion Bills

No companion bills found.

Previously Filed As

PA SB706

In educational tax credits, further providing for limitations.

PA HB1513

In educational tax credits, further providing for definitions, for qualification and application by organizations, for limitations and for opportunity scholarships and providing for economically disadvantaged school scholarships.

PA SB334

In research and development tax credit, further providing for limitation on credits; and providing for Angel Investment Tax Credit.

PA SB191

In tax credit and tax benefit administration, further providing for definitions; in research and development tax credit, further providing for limitation on credits; and providing for Angel Investment Tax Credit.

PA SB757

In Treasury Department, establishing the Pennsylvania Award for Student Success Scholarship Program and the Pennsylvania Award for Student Success Scholarship Fund; in bonus and tax reports and returns and reports and records relating to tax collections, further providing for confidential information; in tax credits, further providing for Department of Community and Economic Development; in 2022-2023 budget implementation, further providing for Department of Education; and making a repeal.

PA SB554

In educational tax credits, further providing for school participation in program.

PA HB1046

In educational tax credits, further providing for school participation in program.

PA SB496

In educational tax credits, further providing for school participation in program.

PA HB2063

In educational tax credits, further providing for definitions and for qualification and application by organizations.

PA HB1219

In personal income tax, further providing for classes of income and for special tax provisions for poverty and providing for alternative special tax provisions for poverty; in corporate net income tax, further providing for definitions, for imposition of tax, for reports and payment of tax, for consolidated reports and for manufacturing innovation and reinvestment deduction; in realty transfer tax, further providing for transfer of tax; in tax credit and tax benefit administration, further providing for definitions; in entertainment production tax credit, further providing for definitions, for credit for qualified film production expenses, for carryover, carryback and assignment of credit and for limitations; in Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits, providing for biotechnology; in neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit; providing for expanded neighborhood improvement zones; in Pennsylvania Child and Dependent Care Enhancement Tax Credit Program, further providing for credit for child and dependent care employment-related expenses; providing for Public Transportation Trust Fund; and, in general provisions, further providing for underpayment of estimated tax, for method of filing and for allocation of tax credits.

Similar Bills

No similar bills found.