Image

5:44 PM / Tuesday February 18, 2025

16 Apr 2015

Councilwoman Introduces School District Sponsorship Tax Credit

  • Facebook
  • Twitter
April 16, 2015 Category: Local Posted by:

Councilwoman Blondell Reynolds Brown introduced the School District Sponsorship Credit Bill, a tax credit aimed at generating private sector funding for the School District of Philadelphia.

The bill offers a one dollar credit off of the Business Income and Receipts Tax (BIRT) for every five donated to the School District of Philadelphia through a “contribution agreement.” The business must agree to contribute a set amount of money to the District. For budget planning purposes, the tax credit would be initially capped at five million dollars per fiscal year, beginning with FY 16, (July 1, 2015-June 30 2016) with contributions taken on a “first come-first served” basis.

“In our ongoing effort to generate new innovative school funding solutions, we offer this exciting opportunity for businesses to lower their tax burden by contributing to our public schools. Simply put, if you donate one million dollars to the School District of Philadelphia, you will see a $200,000 reduction on your business taxes” said Councilwoman Blondell Reynolds Brown. “This bill allows us to turn five million General Fund dollars into twenty five million School District dollars with the help of our business community.

She continued, “We consistently hear the plea from business leaders that education is the number one challenge facing our City. Philadelphia businesses men and women want a pipeline of trained and capable graduates who are ready and equipped to join the workforce and ultimately grow our tax base. Finally, it is my hope that we max out the one million dollar tax credit, and would then look toward raising the cap.”

  • Facebook
  • Twitter

Leave a Comment

Recent News

Color Of Money

Pennsylvania governor seeks more money for schools and transit, but relies heavily on surplus cash

February 10, 2025

Share Tweet Email Governor Josh Shapiro presents his 2025-26 budget proposal to the Pa. General Assembly, as...

Seniors

How Type 2 inflammation contributes to asthma, COPD, and allergic conditions

February 3, 2025

Share Tweet Email BPT Do you live with persistent, moderate-to-severe asthma, COPD, allergies, eczema or hives? Inflammation...

SUNrise

cj speaks…Celebrating in forgiveness for Black History Month

February 10, 2025

Share Tweet Email By cj “This is the day the Lord has made; we will rejoice and...

Week In Review

NFL- Super Bowl LIX pop-up shops showcase fashion for Philadelphia Eagles fans and highlight Black designers in New Orleans

February 18, 2025

Share Tweet Email Origins: An NFL Collection – Retail Pop-up for Super Bowl LIXPhoto credit: Shara Talia...

Commentary

Guest Commentary: The ball’s in our court — who will lead?

February 16, 2025

Share Tweet Email Community advocates and Black Lives Matter advocates gather for a news conference outside Target...

Health

What you need to know about glaucoma

February 10, 2025

Share Tweet Email FAMILY FEATURES More than 4.2 million Americans live with glaucoma, a leading cause of...

The Philadelphia Sunday Sun Staff