Pennsylvania EITC Credits Benefits Venture Grants
Act 4 of 2001 amended the Public School Code to provide for the use of the Educational Investment Tax Credits to be administered by the Dept. of Community and Economic Development. It allows businesses to significantly reduce their PA tax liability (Corporate Net Income, Capital Stock/Franchise, Bank Trust Company Shares Tax, etc.) by making a contribution to a state-approved educational improvement organization. For the purposes of EITC, the contribution can be cash, personal property, or services.
The
LFEE is approved as an organization that qualifies to receive EITC credits.
Thanks to a number of local businesses, the Venture Grant program has more
than tripled the amount of dollars that will be made available to School
District of Lancaster classrooms. EITC credits will support additional projects
and activities in Math, Science, the Arts, Social Studies, World Language
and Communication Arts. Possibilities for creativity and innovation are
enormous!
For more information about this valuable partnership, go to www.inventpa.com or call the LFEE office at 717-391-8660. EITC is a great way for business to help education!