Pennsylvania SB 706: 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 limitations.

Bill Text

PRINTER'S NO. 743
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 706
Session of
2025
INTRODUCED BY BROOKS AND STEFANO, MAY 5, 2025
REFERRED TO EDUCATION, MAY 5, 2025
AN ACT
Amending the act of March 10, 1949 (P.L.30, No.14), entitled "An
act relating to the public school system, including certain
provisions applicable as well to private and parochial
schools; amending, revising, consolidating and changing the
laws relating thereto," in educational tax credits, further
providing for limitations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 2006-B(a) of the act of March 10, 1949
(P.L.30, No.14), known as the Public School Code of 1949, is
amended by adding a paragraph to read:
Section 2006-B. Limitations.
(a) Amount.--
* * *
(3) The department shall ensure that tax credits under
this article are approved in an equitable manner for
contributions from business firms headquartered in each
region of this Commonwealth, including the northcentral
region, northeast region, northwest region, southcentral
region, southeast region and southwest region of this
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Commonwealth. Tax credits approved for contributions from
business firms headquartered in a region of this Commonwealth
that are unclaimed shall be promptly reallocated to business
firms in other regions of this Commonwealth. The department
may develop guidelines to implement this paragraph.
* * *
Section 2. This act shall take effect in 60 days.
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