Businesses may get tax break for scholarships 4

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--> --> Businesses may get tax break for scholarships SALEM (AP) - Employers would be able to deduct half the cost of scholarships they provide to workers and their dependents from their state tax bills under a measure headed for the governor's desk. The bill, HB2521, won Senate approval Thursday with a 27-1 vote. Supporters have cited a report last fall by the National Center for Public Policy and Higher Education that gave Oregon a D-minus in financial help for students wanting to go to college. The report said Oregon families pay about 30 percent of their income, after financial aid, to cover college expenses at the state's public four-year universities compared to about 19 percent in states ranked highly for financial help for students. The center is funded by the Ford Foundation and other groups. Scholarships would be administered the state Student Assistance Commission, which manages government financed scholarships and grants as well as some funded by private individuals and companies. The commission says Oregon students borrowed about $300 million in the 1999-2000 school year, while state grants and private scholarships totaled just $21 million. The bill limits total tax credits to $1 million a year to make a relatively small impact on tax revenue during the state's current tight budget. Email your... Technical questions & comments to: WebMaster Daily Tidings editorial comments & questions to: Editor Visit our other Oregon Newspapers... | Albany Democrat-Herald | Ashland Daily Tidings | Corvallis Gazette-Times | | Lebanon Express | Newport News-Times | Springfield News | Cottage Grove Sentinel | Ashland Daily Tidings 1661 Siskiyou Blvd. Ashland, OR 97520 Telephone 541-482-3456 © Copyright 2001 Lee Northwest Publishing