Bill > S4314

This bill, the Retaining Educators Takes Added Investment Now (RETAIN) Act, aims to address the shortage of experienced, qualified early childhood educators, teachers, and school leaders in the education system. The key provisions of the bill include: 1. Creating a refundable tax credit for eligible early childhood educators, teachers, early childhood education program directors, school-based mental health services providers, and school leaders based on the number of years they have been continuously employed in these roles. The credit amount ranges from $5,800 for the first year of employment up to $11,600 for the tenth continuous year of employment. 2. Requiring states and local school districts to maintain their existing levels of compensation and assistance (such as loan forgiveness programs) for eligible educators, even after the tax credit is factored in. 3. Directing the Departments of Labor, Treasury, Education, and Health and Human Services to develop and publish an annual data series on the average base salaries of teachers and early childhood educators, disaggregated by factors like school poverty level and geographic region. The purpose of the bill is to incentivize retention and support for experienced, qualified educators, particularly in high-need areas, in order to improve academic outcomes and long-term success for students.