1Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2act relating to tax reform and State taxation by codifying
3and enumerating certain subjects of taxation and imposing
4taxes thereon; providing procedures for the payment,
5collection, administration and enforcement thereof; providing
6for tax credits in certain cases; conferring powers and
7imposing duties upon the Department of Revenue, certain
8employers, fiduciaries, individuals, persons, corporations
9and other entities; prescribing crimes, offenses and
10penalties," providing for reissuance of film production tax
11credits.

12The General Assembly of the Commonwealth of Pennsylvania
13hereby enacts as follows:

14Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
15the Tax Reform Code of 1971, is amended by adding a section to
16read:

17Section 1704.1-D. Reissuance of film production tax credits.

18(a) Reissuance.--In any fiscal year, the department may
19reissue a tax credit which meets all of the following:

20(1) The tax credit was approved under section 1703-D(b).

1(2) The contract was signed under section 1703-D(c).

2(3) The tax credit was awarded and a certificate was
3issued under section 1703-D(d).

4(b) Amount.--The amount of a tax credit to be reissued shall
5be calculated as the difference between the amounts in
6subsection (a)(1) and (3). A tax credit reissued under this
7section shall be subject to each provision of this article,
8except for the limitation under section 1707-D(a).

<-9(c) Applicability.--This section shall apply to a tax credit
10awarded under this article in any fiscal year.

11Section 2. This act shall take effect immediately.