PRIOR PRINTER'S NO. 1337 PRINTER'S NO. 2077
No. 1173 Session of 1991
INTRODUCED BY McCALL, CAPPABIANCA, STISH, MELIO, NOYE,
ARMSTRONG, FAIRCHILD, VEON, HALUSKA, KRUSZEWSKI, BILLOW,
MARKOSEK, BELFANTI, DALEY, BATTISTO, TRELLO, GEIST, STEELMAN,
ITKIN AND JAMES, APRIL 17, 1991
AS REPORTED FROM COMMITTEE ON FINANCE, HOUSE OF REPRESENTATIVES,
AS AMENDED, JUNE 24, 1991
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," and establishing the State Right-of-Way Donation <--
11 Tax Credit Law.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
15 the Tax Reform Code of 1971, is amended by adding an article to
16 read:
17 ARTICLE XIX-A
18 STATE RIGHT-OF-WAY DONATION TAX CREDIT
19 Section 1901-A. Short Title.--This article shall be known as
20 the State Right-of-Way Donation Tax Credit Law.
21 Section 1902-A. Definitions.--The following words, terms and
1 phrases, when used in this article, shall have the meanings
2 ascribed to them in this section, except where the context
3 clearly indicates a different meaning:
4 "Department" means the Department of Revenue of the
5 Commonwealth.
6 "Right-of-way donation" means any donation of land or money
7 in lieu of land accepted by the Department of Transportation
8 under section 2003(e)(1) of the act of April 9, 1929 (P.L.177,
9 No.175), known as "The Administrative Code of 1929," which is
10 used for the purpose of constructing, rebuilding, relocating,
11 widening and reconstructing or repairing any State designated
12 highway.
13 Section 1903-A. Authorization of Tax Credit.--A corporation
14 shall be entitled to tax credits against the taxes imposed under
15 Articles II, IV and VI III, IV, VI, VII, VIII, IX AND XV for any <--
16 right-of-way donation to the Department of Transportation.
17 Section 1904-A. Rate and Use of Tax Credits.--(a) The rate <--
18 of such tax credits for each tax shall be in an amount AMOUNT OF <--
19 THE TAX CREDIT SHALL BE equal to fifty per cent of the fair
20 market value of the real estate in the right-of-way donation or
21 fifty per cent of the monetary donation.
22 (b) The tax credits prescribed under this article may SHALL <--
23 be utilized as follows:
24 (1) Ten TWENTY per cent for the tax year during which the <--
25 qualifying donation was made.
26 (2) To the extent not utilized, ten per cent per year may be <--
27 carried over for a period not to exceed four consecutive tax
28 years by the taxpayer.
29 (2) TWENTY PER CENT FOR EACH SUCCEEDING YEAR SHALL BE USED <--
30 BY THE TAXPAYER, BUT UNDER NO CIRCUMSTANCES SHALL THE CARRYOVER
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1 PERIOD EXCEED FOUR CONSECUTIVE TAX YEARS.
2 Section 1905-A. Powers and Duties.--In addition to those
3 created by any other act of the General Assembly, the Secretary
4 of Revenue and the Secretary of Transportation shall have the
5 power and it shall be their duty to:
6 (1) Publish any rules and regulations which may be required
7 to implement this article.
8 (2) Publish as a notice in the Pennsylvania Bulletin, no
9 later than sixty days following the effective date of this
10 article, forms upon which taxpayers may apply for the tax
11 credits authorized by this article.
12 (3) Within five months after the close of any calendar year
13 during which tax credits granted pursuant to this article were
14 used, furnish to members of the General Assembly an annual
15 report providing, as to each corporation which utilized tax
16 credits during the preceding year pursuant to this article, the
17 corporation's name, address and the amount of the tax credit
18 granted.
19 Section 1906-A. Procedures.--(a) Applications for tax
20 credits shall be filed by corporations no later than January 31,
21 1992, and each January 31 thereafter for credits due during the
22 immediately previous calendar year.
23 (b) No later than June 1, 1992, and each June 1 thereafter,
24 each corporation which has filed a complete application for
25 credits pursuant to this article shall be notified regarding the
26 amount of credits awarded to each corporation. An application
27 shall be deemed complete and processible only if it is signed
28 and contains the taxpayer's name, address, identifying numbers
29 and sufficient other information and documentation necessary to
30 determine the amount of credit.
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1 (c) Appeals of determination made pursuant to this article
2 shall be made pursuant to the administrative provisions of
3 Article IV, except that the approval of the Office of the
4 Auditor General shall not be required.
5 Section 2. This act shall take effect immediately.
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