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A bill that would expand Pennsylvania’s Educational Improvement Tax Credit program (H.B. 1330) passed the House today by an overwhelming margin.

Established in 2001, the EITC program enables businesses to help families and organizations provide a better education for Pennsylvania students. Businesses receive tax credits for donations made to organizations that help families offset the cost of enrolling their children in schools requiring tuition payments, as well as organizations that provide innovative educational programs to public schools.

The bill would increase funding for the program from $75 million to $100 million in fiscal year 2011-12 and $200 million in fiscal year 2012-13. Additionally, income limits of families who can quality for the program would increase gradually to $75,000 and would ultimately be based on upward changes in the Consumer Price Index.

Businesses participating in the EITC program could receive up to a 75 percent tax credit for making donations to educational improvement organizations. If a business commits to this cause for two consecutive years, the tax credit amount would increase to 90 percent of their donation.

The PA Chamber supported passage of the legislation because it falls in line with its member-driven Education Policy. The EITC program improves a student’s opportunities for achievement in the classroom and increases competition among public and nonpublic schools, while allowing job creators to foster a quality education system in Pennsylvania.  Job creators have widely agreed that increasing educational options is a winning formula for Pennsylvania students and businesses.

Having received final approval in the House, H.B.1330 moves to the Senate Education Committee for consideration.

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The Pennsylvania Chamber of Business and Industry is the state’s largest broad-based business association, with thousands of statewide members representing businesses of all sizes and all industry sectors. The PA Chamber is The Statewide Voice of Business™. More information is available on the Chamber’s website at www.pachamber.org.