The proposed bill amends the Public School Code of 1949 by introducing ARTICLE XX-N, which establishes the Career and Technical Education Investment Incentive Program. This initiative aims to encourage private investment in career and technical education (CTE) by allowing business firms and nonprofit organizations to financially contribute to CTE programs in participating schools. The bill defines key terms such as "career and technical education partnership organization," "eligible student," and "program-related costs" to clarify the program's scope. Participating schools are required to notify the Department of Community and Economic Development of their intent to participate and the associated costs, while partnership organizations must certify their eligibility and report on student participation metrics.

Additionally, the bill outlines a framework for supporting career and technical education through tax credits and contributions from businesses. It mandates the Department to provide forms and a list of qualified organizations on its website, and specifies certification requirements for participation. Contributions can be directed towards enrollment expansion programs or program-related costs, with tax credits available on a first-come, first-served basis, capped at $15 million per fiscal year. The bill also requires the development of implementation guidelines within 45 days of its effective date and an annual report to the General Assembly on the program's impact, including tax credits claimed and contributions made. The provisions will apply to taxable years starting after December 31, 2025, with some sections taking immediate effect upon publication.

Statutes/Laws affected:
Printer's No. 1721 (May 14, 2025): P.L.30, No.14