SENATE AMENDED

THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE BILL

INTRODUCED BY BENNINGHOFF, AUMENT, BAKER, BOBACK, BRADFORD, CALTAGIRONE, CUTLER, DENLINGER, FLECK, GABLER, GILLEN, GINGRICH, GODSHALL, GROVE, HELM, HENNESSEY, HICKERNELL, KAMPF, KORTZ, MICOZZIE, MILLER, MILNE, QUINN, ROCK, SAYLOR, SCAVELLO, SWANGER, TALLMAN, WATSON AND FABRIZIO, SEPTEMBER 5, 2012

SENATOR BRUBAKER, FINANCE, IN SENATE, AS AMENDED, OCTOBER 15, 2012   

AN ACT

Establishing the Promoting Employment Across Pennsylvania

<--

Program; and providing for tax benefits to qualified

companies in the form of withholding tax relief.

Establishing the Promoting Employment Across Pennsylvania

<--

Program; and providing for tax benefits to qualified

companies in the form of withholding tax relief.

TABLE OF CONTENTS

Chapter 1.  Preliminary Provisions

Section 101.  Short title.

Section 102.  Scope of act.

Section 103.  Definitions.

Chapter 3.  Promoting Employment Across Pennsylvania

Section 301.  Qualification.

Section 302.  Benefits.

Section 303.  Application and review.

Section 304.  Agreement.

Section 305.  Optional remittance.

Section 306.  Recapture of withholding taxes.

Section 307.  Quarterly filing.

Section 308.  Prohibitions.

Section 309.  New job credit.

Section 310.  Administration and regulation.

Section 311.  Review.

Section 312.  Report to General Assembly.

Section 313.  Limitation.

Section 314.  Applicability.

Chapter 51.  Miscellaneous Provisions

Section 5101.  Effective date.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

TABLE OF CONTENTS

<--

Chapter 1.  Preliminary Provisions

Section 101.  Short title.

Section 102.  Scope of act.

Section 103.  Definitions.

Chapter 3.  Promoting Employment Across Pennsylvania

Section 301.  Qualification.

Section 302.  Benefits.

Section 303.  Application and review.

Section 304.  Agreement.

Section 305.  Optional remittance.

Section 306.  Recapture of withholding taxes.

Section 307.  Quarterly report.

Section 308.  Annual form.

Section 309.  Prohibitions.

Section 310.  New employee credit.

Section 311.  Administration and regulation.

Section 312.  Review.

Section 313.  Report to General Assembly.

Chapter 51.  Miscellaneous Provisions

Section 5101.  Effective date.

CHAPTER 1

PRELIMINARY PROVISIONS

Section 101.  Short title.

This act shall be known and may be cited as the Promoting

Employment Across Pennsylvania Act.

Section 102.  Scope of act.

This act relates to fostering economic development, creating

new jobs and opportunities for the citizens of this Commonwealth

and providing incentives to locate business facilities, other

operations and jobs in this Commonwealth.

Section 103.  Definitions.

The following words and phrases when used in this act shall

have the meanings given to them in this section unless the

context clearly indicates otherwise:

"Agreement."  An agreement entered into under section 304.

"County average wage."  The average annual wage paid to

employees, in the same occupation, located in the county where

the qualified company intends to employ new employees, as

reported by the Center for Workforce Information and Analysis.

"Department."  The Department of Community and Economic

Development of the Commonwealth.

"High-impact project."  A business development project in

which a qualified company agrees to hire at least 100 new

employees within five years from the date the agreement is

entered into under section 304.

"New employee."  Any of the following:

(1)  An employee who meets all of the following:

(i)  Has never been employed by the qualified company

in the qualified company's business operating in this

Commonwealth during the taxable year for which benefits

are sought under section 301.

(ii)  Performs duties in this Commonwealth in

connection with the business operating in this

Commonwealth on:

(A)  a regular, full-time basis; or

(B)  a part-time basis if the individual is

customarily performing the duties at least 20 hours

per week throughout the taxable year.

(2)  An individual who is acquired or relocated to this

Commonwealth from another state through an expansion or

relocation of a business operation, notwithstanding if the

individual was previously employed by the qualified company.

"Qualified company."  As follows:

(1)  A for-profit corporation, partnership or other

entity that makes available to its full-time employees health

insurance coverage, pays at least 50% of the premium for the

health insurance and meets the requirements of section 301.

The term includes a company whose headquarters or

administrative offices, located in this Commonwealth, serve

an international or multistate territory and the company

meets the requirements of section 301.

(2)  The term shall not include any corporation,

partnership or other entity which meets any of the following: 

(i)  Is identified by any of the following North

American Industry Classification System code groups,

sectors or subsectors:

(A)  Industry group 7132 or 8131.

(B)  Sectors 44, 45, 61, 92 or 221, including

water and sewer services.

(C)  Subsector 722.

(ii)  Is delinquent in the payment of any taxes or

any other amounts to the Federal Government, the

Commonwealth or any political subdivision.

(iii)  Has filed for or has publicly announced its

intention to file for bankruptcy protection.

"Third party."  A third party as described under section 301. 

"Withholding tax."  The tax required to be withheld under

section 316 of the act of March 4, 1971 (P.L.6, No.2), known as

the Tax Reform Code of 1971.

CHAPTER 3

PROMOTING EMPLOYMENT ACROSS PENNSYLVANIA

Section 301.  Qualification.

In order to qualify for benefits under this act a qualified

company must be located in this Commonwealth and meet the

requirements under section 302(a). A qualified company may meet

the requirements of this section by contracting with an

unrelated third party to perform services as follows:

(1)  the third party serves as the legal employer of the

new employees providing services to the qualified company;

(2)  the services are performed in this Commonwealth; and

(3)  the third party and the new employees are subject to

withholding tax.

Section 302.  Benefits.

(a)  Requirement.--A qualified company that enters into an

agreement must meet one of the following:

(1)  The business operations of the qualified company

must be located in a first, second or second class A county

and at least 15 new employees must be hired within two years

of the date the qualified company enters into the agreement.

(2)  The business operations of the qualified company

must be located in a third, fourth or fifth class county and

at least ten new employees must be hired within two years

from the date the qualified company enters into the

agreement.

(3)  The business operations of the qualified company

must be located in a sixth, seventh or eighth class county

and at least five new employees must be hired within two

years from the date the qualified company enters into the

agreement.

(b)  Normal retention.--A qualified company that meets the

requirements of subsection (a) shall be eligible to retain 95%

of the qualified company's withholding taxes for the new

employees for one of the following periods:

(1)  Five years, if the new employees are compensated at

a rate equal to at least 100% of the county average wage.

(2)  Six years, if the new employees are compensated at a

rate equal to at least 110% of the county average wage.

(3)  Seven years, if the new employees are compensated at

a rate equal to at least 120% of the county average wage.

(c)  High-impact project retention.--A qualified company that

meets the requirements of subsection (a) and engages in a high-

impact project shall be eligible to retain 95% of the qualified

company's withholding taxes for new employees for one of the

following periods:

(1)  Seven years, if the new employees are compensated at

a rate equal to at least 100% of the county average wage.

(2)  Eight years, if the new employees are compensated at

a rate equal to at least 110% of the county average wage.

(3)  Nine years, if the new employees are compensated at

a rate equal to at least 120% of the county average wage.

(4)  Ten years, if the new employees are compensated at a

rate equal to at least 140% of the county average wage.

(d)  Third party.--If a qualified company contracts with a

third party, the third party shall remit payments equal to the

amount of withholding taxes the qualified company is eligible to

retain under this section to the qualified company and shall

report the amount to the Department of Revenue as required under

section 304.

(e)  Employee Notification.--A qualified company or third

party contracted by the qualified company shall provide a notice

to each employee that the qualified company is receiving

benefits under this act that explains the benefits received by

the qualified company under section 302 in the same time frame

and manner by which the employee receives his paycheck or pay

period deductions. The information provided to the employees

must be easily understandable and at the minimum explain that

the employee's withholding tax or taxes are being retained by

the qualified company pursuant to this act.

Section 303.  Application and review.

(a)  Application.--A qualified company that meets the

requirements of section 301 may apply to the department for

benefits under this act. The application shall be on a form

required by the department and shall include all of the

following:

(1)  The name and address of the applicant.

(2)  Documentation that the applicant is a qualified

company.

(3)  Documentation that the applicant meets the

requirements of section 301.

(4)  Documentation that the applicant does not owe any

delinquent taxes or any other amounts to the Federal

Government, this Commonwealth or any political subdivision.

(5)  An affidavit that the applicant has not filed for or

publicly announced its intention to file for bankruptcy

protection.

(6)  Any other information required by the department.

(b)  Review.--Within 30 days of receipt of the application,

the department, in conjunction with the Department of Revenue,

shall review the application and determine if the applicant is a

qualified company and that the requirements of section 301 have

been met.

(c)  Approval.--Upon approval of an application, the

department shall notify the applicant in writing and, under

section 304, enter into an agreement with the qualified company

for benefits under this act. The department may enter into an

agreement with a third party, or the third party may be a party

to the agreement between the qualified company and the

department.

(d)  Additional benefits.--A qualified company that is

receiving benefits under this act may apply to the department

for additional benefits if the qualified company meets the

requirements of section 301.

Section 304.  Agreement.

The agreement between the qualified company and the

department shall be entered into before any benefits may be

provided under this act. The agreement shall do all of the

following:

(1)  Specify the terms and conditions the qualified

company must comply with in order to receive benefits under

this act.

(2)  State that the department must certify all of the

following to the Department of Revenue every taxable year:

(i)  That the qualified company is eligible to

receive benefits under this act.

(ii)  The number of new employees hired by the

company during the taxable year.

(iii)  The amount of gross wages being paid to each

new employee.

(3)  Include any other information deemed necessary by

the department.

Section 305.  Optional remittance.

(a)  Remittance.--The Department of Revenue may allow

qualified companies who are approved to receive benefits under

this act to remit 100% of employee withholding tax to the

Commonwealth and receive a rebate equivalent to the amount

authorized to be retained under section 302(b) and (c).

(b)  Fee.--The Department of Revenue may assess a fee of not

more than $15 per new employee of the qualified company whose

withholding tax is subject to this act.

(c)  Election.--A qualified company must elect the option

under subsection (a), if offered by the Department of Revenue,

prior to entering into the agreement established under section

304.

Section 306.  Recapture of withholding taxes.

(a)  Compliance with terms and conditions.--If the qualified

company fails to comply with the terms and conditions set forth

in the agreement or fails to comply with this act, the

department shall immediately terminate the agreement. The

qualified company shall not be entitled to any further benefits

provided for under this act and shall be required to remit to

the Commonwealth an amount equal to the aggregate withholding

taxes retained by the qualified company or remitted to the

qualified company by a third party under this act as of the date

the agreement is terminated.

(b)  Relocation.--If a qualified company relocates outside of

this Commonwealth within the five-year period immediately

following the last year the company received benefits under this

act, the following apply:

(1)  If a qualified company relocates within three years

from the last year the company received benefits under this

act, an amount equal to 66% of the aggregate withholding

taxes retained by the qualified company or remitted to the

qualifying company by a third party under this act shall be

refunded to the Commonwealth.

(2)  If a qualified company relocates within three to

five years from the last year the company received benefits

under this act, an amount equal to 33% of the aggregate

withholding taxes retained by the qualified company or

remitted to the qualifying company by a third party under

this act shall be refunded to the Commonwealth.

(c)  Waiver.--The department may waive or modify recapture

requirements under subsection (b) if the department determines

that the qualified company's relocation was due to circumstances

beyond the control of the company, including, but not limited

to:

(1)  natural disaster; or

(2)  loss of a major supplier or market.

Section 307.  Quarterly report.

(a)  Filing.--Within 30 days from the end of each calendar

quarter for the duration of the agreement, a qualified company

shall file a quarterly report with the Department of Revenue on

a form prescribed by the Department of Revenue, in conjunction

with the department.

(b)  Contents.--The form under subsection (a) shall request

the following information:

(1)  The name and Employer Identification Number of the

qualified company.

(2)  The effective date of the agreement.

(3)  The reporting period end date.

(4)  All information relating to each new employee of the

qualified company, including:

(i)  The name of the new employee.

(ii)  The last four digits of the new employee's

Social Security number.

(iii)  The employee's start or hire date.

(iv)  The employee's termination date.

(v)  The wages paid for the quarter and the total

withholding taxes for each new employee.

(5)  The amount retained by the qualified company.

(6)  The amount remitted to the Department of Revenue.

(7)  Any other information required by the department.

Section 308.  Annual form.

(a)  Development.--The Department of Revenue, in conjunction

with the department, shall develop a form which must be

completed annually by any qualified company or third party that

is subject to an agreement under section 304.

(b)  Contents.--The form shall request:

(1)  The amount of withholding tax being retained by the

qualified company or remitted by a third party to the

qualified company.

(2)  The number of new employees hired.

(3)  The wages of the new employees.

(4)  Any other information as required by the Department

of Revenue and the department.

(c)  Filing.--The qualified company or third party completing

the form shall file the form with the Department of Revenue as

prescribed by the Department of Revenue.

(d)  Confidentiality.--The contents of the completed form

shall be confidential except as provided under the act of March

4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, and

the act of February 14, 2008 (P.L.6, No.3), known as the Right-

to-Know Law.

Section 309.  Prohibitions.

A qualified company claiming benefits under this act may not

do any of the following:

(1)  Participate in any program in which any portion of

the qualified company's new employees withholding taxes have

been pledged to finance indebtedness or transferred to or for

the benefit of the qualified company.

(2)  Claim any grants or credits authorized by the

General Assembly or any other program established by the

Commonwealth, if the payments or credits would be earned for

the hiring of new employees.

Section 310.  New employee credit.

A new employee whose withholding tax is subject to this act

shall be credited 100% of the withholding tax withheld from the

new employee's paycheck as if the qualified company remitted

100% of the withholding tax to the Commonwealth.

Section 311.  Administration and regulation.

The department, in conjunction with the Department of

Revenue, shall adopt guidelines necessary to implement and

administer this act.

Section 312.  Review.

(a)  Duty.--The department shall conduct an annual review of

the activities undertaken by a qualified company under this act

to ensure that the qualified company is in compliance with this

act, any guidelines adopted under section 311 and any agreement.

(b)  Inspection.--The books and records concerning employment

and wages of any employees for which the qualified company or

third party has retained any withholding taxes shall be

available for inspection by the department at all times during

business hours. The department may request the Department of

Revenue to audit the qualified company or third party for

compliance with this act.

Section 313.  Report to General Assembly.

(a)  Duty.--The department shall submit an annual report to

the General Assembly indicating the effectiveness of the tax

benefits provided by this act no later than March 15 following

the year in which the benefits were approved. The report shall

include the following information:

(1)  The names of all qualified companies and taxpayers

utilizing the benefit as of the date of the report.

(2)  The types of qualified companies utilizing this act.

(3)  The location of the qualified companies and the

location of the qualified companies' business operations in

this Commonwealth.

(4)  The number of new employees hired.

(5)  The wages paid for the new employees.

(6)  The annual amount of benefits provided under this

act.

(7)  The estimated net Commonwealth fiscal impact,

including the direct and indirect new Commonwealth taxes

derived from the new employees hired.

(8)  An estimate of the multiplier effect on the

Commonwealth's economy of the benefits received under this

act.

(b)  Confidentiality.--Notwithstanding any law providing for

the confidentiality of tax records, the information contained in

the report shall be public information. The report shall include

any recommendations for changes in the calculation or

administration of the benefit.

CHAPTER 51

MISCELLANEOUS PROVISIONS

Section 5101.  Effective date.

This act shall take effect in 60 days.

CHAPTER 1

<--

PRELIMINARY PROVISIONS

Section 101.  Short title.

This act shall be known and may be cited as the Promoting

Employment Across Pennsylvania Act.

Section 102.  Scope of act.

This act relates to fostering economic development, creating

new jobs and opportunities for the citizens of this Commonwealth

and providing incentives to locate business facilities, other

operations and jobs in this Commonwealth.

Section 103.  Definitions.

The following words and phrases when used in this act shall

have the meanings given to them in this section unless the

context clearly indicates otherwise:

"Agreement."  An agreement entered into under section 304.

"County average wage."  The average annual wage paid to

employees located in the county where the qualified company

intends to employ new employees, as reported by the Center for

Workforce Information and Analysis.

"Department."  The Department of Community and Economic

Development of the Commonwealth.

"Qualified company."  As follows:

(1)  A for-profit corporation, partnership or other

entity that:

(i)  agrees to create at least 250 new jobs in this

Commonwealth within five years from the date the

agreement is entered into under section 304; and

(ii)  makes available to its full-time employees

health insurance coverage, pays at least 50% of the

premium for the health insurance and meets the

requirements of section 301.

(2)  The term shall not include any corporation,

partnership or other entity which meets any of the following: 

(i)  Is identified by any of the following North

American Industry Classification System code groups,

sectors or subsectors:

(A)  Industry group 7132 or 8131.

(B)  Sectors 44, 45, 61, 92 or 221, including

water and sewer services.

(C)  Subsector 722.

(ii)  Is delinquent in the payment of any taxes or

any other amounts to the Federal Government, the

Commonwealth or any political subdivision.

(iii)  Has filed for or has publicly announced its

intention to file for bankruptcy protection.

"Withholding tax."  The tax required to be withheld under

section 316 of the act of March 4, 1971 (P.L.6, No.2), known as

the Tax Reform Code of 1971.

CHAPTER 3

PROMOTING EMPLOYMENT ACROSS PENNSYLVANIA

Section 301.  Qualification.

In order to qualify for benefits under this act a qualified

company must be located in this Commonwealth and meet the

requirements under section 302(a).

Section 302.  Benefits.

(a)  Requirement.--A qualified company that enters into an

agreement must create 100 of the required new jobs in this

Commonwealth within two years of entering into the agreement

under section 304.

(b)  Retention.--A qualified company that meets the

requirements of subsection (a) shall be eligible to retain 95%

of the qualified company's withholding taxes for individuals

employed in the new jobs for one of the following periods:

(1)  Seven years, if the individuals are compensated at a

rate equal to at least 100% of the county average wage.

(2)  Eight years, if the individuals are compensated at a

rate equal to at least 110% of the county average wage.

(3)  Nine years, if the individuals are compensated at a

rate equal to at least 120% of the county average wage.

(4)  Ten years, if the individuals are compensated at a

rate equal to at least 140% of the county average wage.

(c)  Information statement.--A qualified company shall comply

with section 317 of the act of March 4, 1971 (P.L.6, No.2),

known as the Tax Reform Code of 1971, without regard to the

benefits received under this act.

(d)  Notice.--The qualified company shall provide to each

individual employed in a new job notice of the benefits the

qualified company is receiving under this act at the time the

individual is hired. The information must be easily

understandable and must state that the employee's withholding

tax is being retained by the qualified company under this act.

Section 303.  Application and review.

(a)  Application.--A qualified company that meets the

requirements of section 301 may apply to the department for

benefits under this act. The application shall be on a form

required by the department and shall include all of the

following:

(1)  The name and address of the applicant.

(2)  Documentation that the applicant is a qualified

company.

(3)  Documentation that the applicant meets the

requirements of section 301.

(4)  Documentation that the applicant does not owe any

delinquent taxes or any other amounts to the Federal

Government, this Commonwealth or any political subdivision.

(5)  An affidavit that the applicant has not filed for or

publicly announced its intention to file for bankruptcy

protection.

(6)  Any other information required by the department.

(b)  Review.--Within 30 days of receipt of the application,

the department, in conjunction with the Department of Revenue,

shall review the application and determine if the applicant is a

qualified company and that the requirements of section 301 have

been met.

(c)  Approval.--The department may approve or deny the

application. Upon approval of an application, the department

shall notify the applicant in writing and enter into an

agreement with the qualified company for benefits under this

act.

Section 304.  Agreement.

The agreement between the qualified company and the

department shall be entered into before any benefits may be

provided under this act. The agreement shall do all of the

following:

(1)  Specify the terms and conditions the qualified

company must comply with in order to receive benefits under

this act.

(2)  Require the department to certify all of the

following to the Department of Revenue every taxable year:

(i)  That the qualified company is eligible to

receive benefits under this act.

(ii)  The number of new jobs created by the company

during each taxable year.

(iii)  The amount of gross wages being paid to each

individual employed in a new job.

(3)  Include any other information deemed necessary by

the department.

Section 305.  Optional remittance.

(a)  Remittance.--The Department of Revenue may allow

qualified companies who are approved to receive benefits under

this act to remit 100% of employee withholding tax to the

Commonwealth and receive a rebate equivalent to the amount

authorized to be retained under section 302(b).

(b)  Fee.--The Department of Revenue may assess a fee of not

more than $15 per individual employed in a new job of the

qualified company whose withholding tax is subject to this act.

(c)  Election.--A qualified company must elect the option

under subsection (a), if offered by the Department of Revenue,

prior to entering into the agreement established under section

304.

Section 306.  Recapture of withholding taxes.

(a)  Compliance with terms and conditions.--If the qualified

company fails to comply with the terms and conditions set forth

in the agreement or fails to comply with this act, the

department shall immediately terminate the agreement. The

qualified company shall not be entitled to any further benefits

provided for under this act and shall be required to remit to

the Commonwealth an amount equal to the aggregate withholding

taxes retained by the qualified company under this act as of the

date the agreement is terminated.

(b)  Relocation.--If a qualified company relocates outside of

this Commonwealth within the five-year period immediately

following the last year the company received benefits under this

act, the following apply:

(1)  If a qualified company relocates within three years

from the last year the company received benefits under this

act, an amount equal to 66% of the aggregate withholding

taxes retained by the qualified company under this act shall

be refunded to the Commonwealth.

(2)  If a qualified company relocates within three to

five years from the last year the company received benefits

under this act, an amount equal to 33% of the aggregate

withholding taxes retained by the qualified company under

this act shall be refunded to the Commonwealth.

(c)  Waiver.--The department may waive or modify recapture

requirements under subsection (b) if the department determines

that the qualified company's relocation was due to circumstances

beyond the control of the company, including, but not limited

to:

(1)  natural disaster; or

(2)  loss of a major supplier or market.

Section 307.  Quarterly filing.

(a)  Filing.--Within 30 days from the end of each calendar

quarter for the duration of the agreement, a qualified company

shall file quarterly with the Department of Revenue on a form

prescribed by the Department of Revenue.

(b)  Contents.--The form under subsection (a) shall request

the following information:

(1)  The name and Employer Identification Number of the

qualified company.

(2)  The effective date of the agreement.

(3)  The reporting period end date.

(4)  Information relating to each individual employed in

a new job as required by the Department of Revenue.

(5)  Information on amounts retained or remitted.

(6)  Any other information required by the department.

(c)  Confidentiality.--The contents of the completed form

shall be confidential except as provided under the act of March

4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971.

Section 308.  Prohibitions.

A qualified company claiming benefits under this act may not

participate in any program in which any portion of the qualified

company's withholding taxes attributable to new jobs have been

pledged to finance indebtedness or transferred to or for the

benefit of the qualified company.

Section 309.  New job credit.

An individual employed in a new job whose withholding tax is

subject to this act shall be credited 100% of the withholding

tax withheld from the individual's paycheck as if the qualified

company remitted 100% of the withholding tax to the

Commonwealth.

Section 310.  Administration and regulation.

The department, in conjunction with the Department of

Revenue, shall adopt guidelines necessary to implement and

administer this act.

Section 311.  Review.

(a)  Duty.--The department shall conduct an annual review of

the activities undertaken by a qualified company to ensure that

the qualified company is in compliance with this act, the

agreements and any regulations or guidelines adopted under this

act.

(b)  Inspection.--The books and records concerning employment

and wages of any employees for which the qualified company has

retained any withholding taxes shall be available for inspection

by the department during regular business hours. The department

may request the Department of Revenue to audit the qualified

company for compliance with this act.

Section 312.  Report to General Assembly.

(a)  Duty.--The department shall submit an annual report to

the General Assembly indicating the effectiveness of the tax

benefits provided by this act no later than March 15 following

the year in which the benefits were approved. The report shall

include the following information:

(1)  The name of each qualified company participating as

of the date of the report.

(2)  The types of qualified companies utilizing this act.

(3)  The location of the qualified company and any of its

business operations in this Commonwealth.

(4)  The number of new jobs created.

(5)  The wages paid to individuals employed in the new

jobs.

(6)  The annual amount of benefits provided under this

act.

(7)  The estimated net Commonwealth fiscal impact,

including the direct and indirect new Commonwealth taxes

derived from the new jobs created.

(8)  An estimate of the multiplier effect of the benefits

received under this act.

(b)  Confidentiality.--Notwithstanding any law providing for

the confidentiality of tax records, the information contained in

the report shall be public information.

Section 313.  Limitation.

The aggregate annual amount of benefits retained under this

act may not exceed $5,000,000.

Section 314.  Applicability.

No agreement under this act may be entered into after January

1, 2018.

CHAPTER 51

MISCELLANEOUS PROVISIONS

Section 5101.  Effective date.

This act shall take effect immediately.