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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StatePennsylvania
Reporting JurisdictionPennsylvania
Jurisdiction type: State
Fiscal year ending In2019
Program nameEducational Tax Credit (formerly Education Improvement Tax Credit)
Program purpose: Educational development
Statutory authority: Article XX-B of the Public School Code of 1949, 24 P.S. Section 20-2005-B
Abating jurisdiction(s): State of Pennsylvania
Applicable taxesCorporate Net Income Tax; Personal Income Tax; Bank and Trust Company Shares Tax; Insurance Premium Tax; Title Insurance Company Shares Tax; Mutual Thrift Institutions Tax; Malt Beverage Tax; Surplus Lines Tax for Retaliatory Fees
Method of abatement: Tax Credit
Provisions for recapture: For two-year aplications, if the second year contribution is not made, the prior year credit is reduced to 75%
Gross revenue loss: $150,900,000
Reimbursement / offset: $0
Net revenue loss: $150,900,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.budget.pa.gov/Publications%20and%20Reports/AnnualFinancialRe...