By Eden Laikin
Nassau County Executive Ed Mangano joined Governor Andrew Cuomo and Cardinal Timothy Dolan today, as the Governor announced new education tax credits for donations made to schools.
Under Governor Cuomo’s Education Investment Tax Credit act, people who make donations to private, public and charter? schools’ scholarship funds would receive a credit equal to 75% of their contributions. It’s designed to incentivize donations to educational institutions.
At least 50% of scholarship recipients would have to be students who qualify for free or reduced price lunch under the Governor’s proposal.
The Governor’s plan also includes a:
• $500 tax credit for families who send their children to private school; and a
• $200 tax credit for all teachers who purchase school supplies out of pocket.
The three gathered this morning at the Yes We Can Community Center in Westbury, in bi-partisan fashion, to announce tax credit relief.
“Every child deserves a quality education,” County Executive Mangano said. “That’s why it’s so important we invest in New York’s education system today. Whether it is children attending public schools, charter schools or nonpublic schools, everyone will benefit from additional private sector dollars made available for education.”
Mangano said the best part of the new initiative is that it builds upon the State’s Property Tax Cap by investing more dollars in education without raising local property taxes.
“It will also help protect art, music, tutoring and athletic programs which, are all too often, on the chopping block by some public schools,” he said.