PENNSYLVANIA, January 19 - aggregate amount under this paragraph, whichever is

greater, shall be used to provide tax credits for

contributions from business firms to scholarship

organizations.

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,

AMENDED JUNE 30, 2021 (P.L.158, NO.26), IS AMENDED AND THE

SECTION IS AMENDED BY ADDING A SUBSECTION 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

$225,000,000 IN [A] FISCAL YEAR 2021-2022.

(I) NO LESS THAN $175,000,000 OR 78% OF THE TOTAL

AGGREGATE AMOUNT UNDER THIS PARAGRAPH, WHICHEVER IS

GREATER, SHALL BE USED TO PROVIDE TAX CREDITS FOR

CONTRIBUTIONS FROM BUSINESS FIRMS TO SCHOLARSHIP

ORGANIZATIONS.

(ii) No less than $37,500,000 or 20% 17% of the

total aggregate amount under this paragraph, whichever is

greater, shall be used to provide tax credits for

contributions from business firms to educational

improvement organizations.

(iii) The total aggregate amount of all tax credits

approved for contributions from business firms to pre-

kindergarten scholarship organizations shall not exceed

$12,500,000 or 7% 5% of the total aggregate amount under

this paragraph , whichever is greater, in a fiscal year.

20210SB0527PN1329 - 2 -

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