New Hampshire’s Education Tax Credits survive Senate Committee, unanimously.
The New Hampshire Senate Ways & Means Committee held a hearing this morning on the Education Tax Credits. Well, they heard a bill to alter the program, that is.
All five members of the Committee voted to ITL (kill) the bill. They are: Majority Leader Dan Feltes (D), Bob Guida (R), Lou D’Allensandro (D) , Minority Leader Chuck Morse (R), and Jeanne Dietsch (D).
Senator Kahn (D), the prime sponsor, appears to be the only person to testify in favor of altering the program. After that, students, parents, and other interested parties spoke in favor of the current system of Education Tax Credits and gave testimony powerful enough to kill a bill. I’ve been told some of the testimony brought Senators to tears.
If you had asked me before this hearing, I’d have assumed it would come out with a 3-2 vote in favor of passing the repeal. It is great to see that the three Democrats on the Committee voted the right way. Thank you.
The Tax Credit Program
The Education Tax Credit program allows businesses in New Hampshire and individuals to make donations to 501(c)3 charities that are approved by the Board of Education. The donations can then be deducted from their BET/BPT taxes or I&D taxes. These groups use the funds to help underprivileged or underperforming students attain an education that suits them better via scholarships. It is the only program in the country that allows home-schooled children to be eligible.
There were 413 participants in 2018-2019, who received an average scholarship of $2,300. The Children’s Scholarship Fund of New Hampshire has awarded over $3,700,000 since its inception.