|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