PRINTER'S NO. 2624
No. 1998 Session of 2001
INTRODUCED BY CALTAGIRONE, GEORGE, CAPPELLI, DeWEESE, FREEMAN,
LAUGHLIN, PISTELLA, CORRIGAN, CREIGHTON, FEESE, GEIST,
HERMAN, HERSHEY, SAYLOR, SCHULER, BELFANTI, CLARK, DALEY,
GRUCELA, HORSEY, JOSEPHS, TRELLO, TRICH, SCRIMENTI, SHANER,
DeLUCA, McCALL, WASHINGTON, HARHAI AND PALLONE,
OCTOBER 5, 2001
REFERRED TO COMMITTEE ON FINANCE, OCTOBER 5, 2001
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," providing credits against the corporate net
11 income tax.
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 a section to
16 read:
17 Section 402.1. Credits Against Tax.--(a) Each corporation
18 owning a refinery located in this Commonwealth which produces
19 gasohol from agricultural products raised within this
20 Commonwealth shall annually receive a credit against the tax
1 imposed by this article equal to fifteen per cent of the total
2 wholesale value of gasohol produced by such refinery.
3 (b) Each corporation eligible to receive the tax credit
4 provided for in subsection (a) shall in addition to such credit
5 receive an annual credit against the tax imposed by this article
6 equal to ten per cent of the total wholesale value of gasohol
7 produced by its refinery if such corporation uses coal mined and
8 processed in this Commonwealth as a processing energy source in
9 such refinery.
10 Section 2. For purposes of this act, the term "gasohol"
11 shall mean a mixture of not less than 7% and not more than 10%
12 ethanol alcohol and gasoline which is used as a substitute for
13 unleaded gas.
14 Section 3. This act shall take effect January 1, 2002, and
15 shall expire January 1, 2011.
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