PRINTER'S NO. 959
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
848
Session of
2015
INTRODUCED BY TEPLITZ, SCHWANK, RAFFERTY, COSTA AND STEFANO,
MAY 20, 2015
REFERRED TO FINANCE, MAY 20, 2015
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in resource enhancement and protection tax
credit, further providing for Resource Enhancement and
Protection Tax Credit Program.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1703-E(b)(1) and (2) of the act of March
4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971,
added July 25, 2007 (P.L.373, No.55), are amended to read:
Section 1703-E. Resource Enhancement and Protection Tax Credit
Program.
* * *
(b) Limits.--The following limits shall apply:
(1) Except as set forth in paragraph (5), an eligible
applicant may be granted a maximum of [$150,000] $225,000 in
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tax credits under this program.
(2) No more than [$150,000] $225,000 in tax credits
shall be granted toward projects for an agricultural
operation.
* * *
Section 2. This act shall take effect in 60 days.
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