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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | December 18, 2014 09:45 AM |
|---|---|
| From: | Representative Thomas P. Murt |
| To: | All House members |
| Subject: | Tax Credit for Equipment Donation to Vocational-Technical Schools in PA (Prior HB 1238) |
| As you are all aware, Pennsylvania is home to many area vocational-technical institutes which provide thousands of high school aged students with valuable vocational knowledge and skills. As a result of the skills a student receives from a vocational-technical institute, they are better prepared for the future whether it be attending college or entering the workforce. Unfortunately, the operating costs associated with vocational-technical institutes are high due to the need for specialized equipment for vocational fields. In order to assist vocational-technical institutes with these costs, I will be re-introducing legislation which will encourage the donation of relevant equipment. If enacted, my legislation will provide businesses, that choose to donate equipment to vocational-technical institutes located in Pennsylvania, with a tax credit. The tax credit will be equal to the value of the donated item, limit $10,000 per fiscal year. This credit may be applied towards personal income tax liabilities, corporate net income tax liabilities, and/or capital stock and foreign franchise tax liabilities. The total amount of tax credits available to businesses will not exceed $5 million. My district is home to the Eastern Center for Arts and Technology, which is one of the preeminent area vocational-technical institutes in Pennsylvania. As a result of this, I’ve seen first hand the positive impact the skills learned at an area vocational-technical institute can have on high school students. With this in mind, I encourage you to join me in my efforts to assist area vocational-technical institutes by encouraging the donation of much needed equipment. |
Introduced as HB666