Senate Bill 221 Printer's Number 192
PENNSYLVANIA, February 11 - Educational Scholarship Program Fund.
(b) Deposits.--The agency shall deposit moneys contributed
to the program under section 2604-L into the fund.
(c) Use of moneys.--In addition to any other moneys
allocated for the program, the agency shall use the moneys
deposited into the fund under subsection (b) to award grants to
students in the program.
Section 2604-L. Tax credit.
(a) Participating industries.--
(1) The Department of Revenue shall grant a tax credit
against any tax due under Article III, IV, VII, VIII, IX or
XV of the Tax Reform Code of 1971 to a health-related
industry if the health-related industry provides proof of a
contribution to the fund.
(2) The tax credit shall apply to the taxable year in
which the contribution is made which shall not exceed 75% of
the total amount contributed to the fund during the taxable
year by the health-related industry.
(b) Additional amount.--
(1) The Department of Revenue shall grant a tax credit
of up to 90% against any tax due under Article III, IV, VII,
VIII, IX or XV of the Tax Reform Code of 1971 to a health-
related industry if the health-related industry provides
proof of all of the following:
(i) Making a contribution to the fund.
(ii) Hiring a resident of this Commonwealth who
received a grant under the program during the taxable
year in which the contribution was made to the fund.
(2) The tax credit shall apply to the taxable year in
which the contribution is made to the fund.
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