Tax Credits for Educators and School Staff Retention
This act introduces a refundable tax credit for teachers, school leaders, and other education professionals to encourage their retention, especially in high-need areas. The goal is to improve education quality and staff stability, potentially leading to better student outcomes and support for families.
Key points
Teachers, school leaders, and other education staff can receive a refundable tax credit that increases with years of continuous service, up to 20 years.
The credit amount ranges from $5,800 to $11,600 annually, depending on years of service, and will be adjusted for inflation.
The act aims to retain experienced professionals in schools and early childhood programs, particularly in high-poverty areas where staffing shortages are most acute.
Educational agencies are prohibited from reducing compensation or loan forgiveness programs due to an employee receiving this credit.
The act mandates the collection of data on average salaries of teachers and early childhood educators to better monitor the sector.
Expired
Additional Information
Print number: 118_HR_3265
Sponsor: Rep. Schneider, Bradley Scott [D-IL-10]
Process start date: 2023-05-11