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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| HOUSE BILL |
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| INTRODUCED BY STURLA, BARRAR, BOYD, BRIGGS, CALTAGIRONE, D. COSTA, CUTLER, DAVIS, DeLUCA, DENLINGER, FLECK, FRANKEL, GROVE, HORNAMAN, JOSEPHS, KAVULICH, KILLION, KIRKLAND, KORTZ, KOTIK, KULA, MANN, MURPHY, MURT, PASHINSKI, PAYTON, PYLE, SANTARSIERO, K. SMITH, STABACK, SWANGER AND WAGNER, MARCH 29, 2011 |
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| REFERRED TO COMMITTEE ON APPROPRIATIONS, MARCH 29, 2011 |
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| AN ACT |
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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," in educational improvement tax credit, further |
11 | providing for tax credit. |
12 | The General Assembly of the Commonwealth of Pennsylvania |
13 | hereby enacts as follows: |
14 | Section 1. Section 1705-F(g) of the act of March 4, 1971 |
15 | (P.L.6, No.2), known as the Tax Reform Code of 1971, added |
16 | October 9, 2009 (P.L.451, No.48), is amended to read: |
17 | Section 1705-F. Tax credit. |
18 | * * * |
19 | (g) Time of application for credits.-- |
20 | (1) Except as provided in [paragraphs (2) and (3)] |
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1 | paragraph (2), the department may accept applications for tax |
2 | credits available during a fiscal year no earlier than July 1 |
3 | of each fiscal year. |
4 | (2) The application of any business firm for tax credits |
5 | available during a fiscal year as part of the second year of |
6 | a two-year commitment may be accepted no earlier than May 15 |
7 | preceding the fiscal year. |
8 | [(3) The application under subsection (a) of any pass- |
9 | through entity for approval of single-year tax credits |
10 | available during a fiscal year against the taxes imposed |
11 | under Article III or under subsection (b) for approval of |
12 | credits against such taxes for the first year of a two-year |
13 | commitment may be accepted by the department no earlier than |
14 | the first business day following July 7 of the fiscal year.] |
15 | Section 2. This act shall take effect in 60 days. |
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