On May 15th early renewals of existing donors begin for Pennsylvania EITC and OSTC tax credits. The new legislation in effect in house bill 91 allow EITC applicants to automatically opt into OSTC tax credits before any other donors. If a May 15 3rd year application for scholarships or education improvement tax credit is wait listed then the applicant can opt instead for OSTC tax credits. Our organization CPSF can assist donors who opt into OSTC tax credits by finding ways to still help their EIO or SO charities while using the OSTC funds for students in Pennsylvania.
Act 91 also allows Pre-K tax credit donors to make two year commitments beginning July 1, 2015. There will certainly be a lot of donors that take advantage of this opportunity and this could lock up most of the Pre K tax credits in future years as existing donors will get to apply early for their Pre K tax credits in the future so do not delay in applying for Pre K tax credits in 2015 while new donors have the same chance as old donors.
See below for more details about the new legislation passed in the Fall 2014 in House Bill 91.
http://www.legis.state.pa.us/WU01/LI/BI/FN/2013/0/HB0091P4310.pdf
Act 91 also allows Pre-K tax credit donors to make two year commitments beginning July 1, 2015. There will certainly be a lot of donors that take advantage of this opportunity and this could lock up most of the Pre K tax credits in future years as existing donors will get to apply early for their Pre K tax credits in the future so do not delay in applying for Pre K tax credits in 2015 while new donors have the same chance as old donors.
See below for more details about the new legislation passed in the Fall 2014 in House Bill 91.
http://www.legis.state.pa.us/WU01/LI/BI/FN/2013/0/HB0091P4310.pdf
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