In Albany, we are getting closer to passing the Education Investment Tax Credit act, a bill that will substantially increase investment in New York State education and benefit all children and families. I am very hopeful that this bill will make it through. For years, offsetting the high cost of educating children has remained highest on my list of priorities.

The value of a tax credit to parents sending their children to private or religious schools was something that I saw the value in for many years. As far back as 15 years ago, I began sponsoring bills to this effect and fighting hard for them knowing that persistence was the key to this battle. I remember working hard with Timothy Mulhearn of United New Yorkers for Choice in Education hoping to move the ball because it was patently unfair that NY State residents pay taxes towards schools they didn’t use and not receive credit for lowering the costs of operating those schools by choosing to send their children elsewhere.

The new legislation that we are now considering is different. In essence, it will aid families through scholarships. Low-income and middle-class families would have more scholarship opportunities than before.

As a tax proposal, the bill will not impact the amount of state aid for public schools. Instead, it would spur added investment in education and also help defray the costs of public schools.

The Education Investment Tax Credit was sponsored in the NY State Senate by my colleagues Senators Simcha Felder and Marty Golden, and in the Assembly by my colleague Michael Cusick of Staten Island. Among other things, this bill would provide a dollar-for-dollar tax credit against income for donations to education-related entities. If, for example, someone has a $10K or $20K tax bill, they can donate that amount instead to a scholarship fund. The ultimate goal would be to increase charitable donations from individuals and businesses for education by up to $300 million.

Under the provisions of this bill, parents will not receive money directly. Neither will they receive a voucher. But the new law would substantially generate increased funding for education by enhancing existing tax benefits for charitable donations. While the precise amount is being negotiated, the numbers in discussion are about $5,000 per student. That’s significant.

While many of my colleagues and I have pushed for these and similar measures for many years, we believe we’re getting closer to a resolution. We have over 100 sponsors now. If passed, this new legislation will be a win-win for both public and private schools, and it will put New York State in the forefront of education.

Best of all, it will help the many families who face the dilemma of providing the types of education they want for their children with relief that’s both fair and substantial.

Laws take time. Getting to this point has been long and laborious, and it’s not over yet. But my goal, which I share with many of my colleagues, is to open the door for equitable benefits to families who send their children to private and religious schools. I look forward to keeping you informed of our progress.

Assemblyman Dov Hikind

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