Cardinal Dolan TV Ad on Education Tax Credit

The Bill

Education Investment Tax Credit Legislation

New York State Assembly Bill 1826-D and Senate Bill 4099-A

In 2012, the State Senate passed the Education Investment Tax Credit legislation by a bipartisan vote of 55-to-4.  This year, the Assembly version has more than 100 co-sponsors (more than two-thirds of the Assembly members).

The Education Investment Tax Credit would provide a state tax credit for:

1. Classroom Supplies

Reimburse teachers up to $100 for their out-of-pocket expenses for classroom supplies.

2. Classroom Projects

Increase donations for teacher-selected classroom projects through DonorsChoose and similar nonprofit organizations.

3. Arts, Music, and Sports

Increase donations to nonprofits to provide arts, music, history, athletics, and other instruction in classrooms.

4. Scholarships

Increase donations for nonprofit scholarship organizations to provide scholarships to students attending pre-K through 12th grade, including public and private schools.

Of the proposed $300 million in tax credits, at least half would be set aside to increase donations to public schools and their teachers.

The Education Investment Tax Credit would increase the investment in education by encouraging more charitable donations – donations that benefit all students regardless of what type of school they attend.