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Education Tax Credit in Gov. Cuomo's State of the State Address
Posted on 01/13/2016
From the NYS Catholic Conference:
Governor Cuomo continues the fight for Education Tax Credits!
Governor Andrew Cuomo today issued his annual State of the State message and 2016-17 Executive Budget proposal. The $145.9 billion proposed state budget includes a record $25 billion in spending for public schools which represents an increase of $1.14 billion (4.9%).
The Governor also included his Education Tax Credit (ETC) proposal in the Executive Budget following the passage of the Senate version (S.1976-a by Golden, et al) on Monday. The Governor’s proposal provides $150 million in credits for the following:
· $50 million for donations to Education Scholarship Organizations;
· $20 million for donations to the public school sector;
· $70 million in tuition tax credits worth up to $500 for low-income families; and
· $10 million for tax credits worth up to $200 for teachers’ out-of-pocket classroom expenses.