Pennsylvania HB 2623: An Act amending the act of December 3, 1959 (P.L.1688, No.621), known as the Housing Finance Agency Law, in homeowner's emergency assistance, providing for COVID-19 disaster emergency mortgage assistance.

Bill Text

PRINTER'S NO. 3584
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2623
Session of
2026
INTRODUCED BY WHITE, M. MACKENZIE, OLSOMMER, CUTLER, COOPER,
KAUFFMAN, STAATS, VEROBISH, BERNSTINE, MENTZER AND ROWE,
JUNE 10, 2026
REFERRED TO COMMITTEE ON EDUCATION, JUNE 10, 2026
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 tax credits and for limitations, providing for
Pennsylvania Learning Investment Tax Credit, for displaced
student scholarship program, establishing the Displaced
Student Scholarship Fund and providing for compliance with
Federal tax credit; and making an editorial change.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Article XX-B 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 subarticle heading immediately preceding
section 2001-B to read:
SUBARTICLE A
EDUCATIONAL IMPROVEMENT AND OPPORTUNITY
SCHOLARSHIP TAX CREDIT PROGRAMS
Section 2. Section 2005-B(a)(1), (a.1)(1), (b) and (c)(1) of
the act, amended July 11, 2024 (P.L.618, No.55), are amended to
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read:
Section 2005-B. Tax credits.
(a) Scholarship or educational improvement organizations.--
In accordance with section 2006-B, the Department of Revenue
shall grant a tax credit against any applicable tax to a
business firm providing proof of a contribution to a scholarship
organization or educational improvement organization in the
taxable year in which the contribution is made in accordance
with the following:
(1) The tax credit shall not exceed [75% or, in the case
of a contribution to the scholarship organization for
economically disadvantaged schools, 85%] 99% of the total
amount contributed during the taxable year by the business
firm.
* * *
(a.1) Opportunity scholarship organizations.--In accordance
with section 2006-B, the Department of Revenue shall grant a tax
credit against any applicable tax to a business firm providing
proof of a contribution to an opportunity scholarship
organization in the taxable year in which the contribution is
made in accordance with the following:
(1) The tax credit shall not exceed [75%] 99% of the
total amount contributed during the taxable year by the
business firm.
* * *
(b) Additional amount.--Notwithstanding subsections (a)(1)
and (a.1)(1), in accordance with section 2006-B, the Department
of Revenue shall grant a tax credit of up to [90% or, in the
case of a contribution to the scholarship organization for
economically disadvantaged schools,] 99% of the total amount
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contributed during the taxable year if the business firm
provides a written commitment to provide the scholarship
organization, educational improvement organization or
opportunity scholarship organization with the same amount of
contribution for two consecutive tax years. The business firm
must provide the written commitment under this subsection to the
department at the time of application.
(c) Pre-kindergarten scholarship organizations.--In
accordance with section 2006-B, the Department of Revenue shall
grant a tax credit against any applicable tax to a business firm
providing proof of a contribution to a pre-kindergarten
scholarship organization in the taxable year in which the
contribution is made in accordance with the following:
(1) The tax credit shall be equal to 100% of the first
$10,000 contributed during the taxable year by the business
firm and shall not exceed [90%] 99% of the remaining amount
contributed during the taxable year by the business firm. At
the time of application, a business firm may provide a
written commitment to the department to provide the pre-
kindergarten scholarship organization with at least the same
amount of contribution for two consecutive years.
* * *
Section 3. Section 2006-B(a)(1) of the act, amended November
12, 2025 (P.L.244, No.47), is amended to read:
Section 2006-B. Limitations.
(a) Amount.--
(1) The total aggregate amount of all tax credits
approved for contributions from business firms to scholarship
organizations, educational improvement organizations and pre-
kindergarten scholarship organizations shall not exceed
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[$590,000,000] $790,000,000 in a fiscal year. The following
shall apply:
(i) No less than [$375,000,000] $525,000,000 of the
total aggregate amount shall be used to provide tax
credits for contributions from business firms to
scholarship organizations.
(ii) No less than $74,500,000 of the total aggregate
amount shall be used to provide tax cred