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Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20150&cosponId=16169
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House of Representatives
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: December 23, 2014 11:29 AM
From: Representative Warren Kampf
To: All House members
Subject: Research and Development Tax Credit - Prior Session HB 2078
 




Colleagues, I ask for your co-sponsorship of a piece of legislation I am about to re-introduce. Many of you co-sponsored this legislation last session.

Currently, Pennsylvania offers a tax credit to private sector companies that invest in, and increase their spending on, operations that conduct research in the areas of science and technology. Known as the Research and Development Tax Credit, this program encourages economic growth and job creation in the Commonwealth by providing these entities with a tax credit to lower their costs associated with research and development. Many businesses, small and large, have benefitted from this program as currently constructed, which in turn, has benefited residents across Pennsylvania.

Current law places an annual cap of $55 million on the Research and Development tax credit program. Based on the success of this program, I plan to introduce legislation that will increase the current tax credit to $100 million in the next fiscal year. Included in the current law is a provision that sets aside $11 million exclusively for small businesses, and my legislation will expand that set-aside for small business to $15 million.

Increasing the total available credits to $100 million will increase opportunities for the private sector to invest in these areas, making the Pennsylvania economy stronger and fostering additional job growth.

I ask you to join me in co-sponsoring this beneficial legislation, please contact Joni Mitchell in my office at 717 260-6166 or via email at jmitchel@pahousegop.com should you have any questions. Thank you in advance for your consideration.

Prior Session Co-sponsors: KOTIK, SAYLOR, SCAVELLO, O'BRIEN, FLYNN, GODSHALL, THOMAS, CLYMER, GROVE, GINGRICH, GIBBONS, GILLEN, READSHAW, HARHART, MURT, STEVENSON, EVANKOVICH, ROSS, KILLION, KAUFFMAN, REED AND HARPER