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                                                         PRINTER'S NO. 5

THE GENERAL ASSEMBLY OF PENNSYLVANIA


SENATE BILL

No. 4 Special Session No. 1 of 2007-2008


        INTRODUCED BY BROWNE, RAFFERTY, SCARNATI, ERICKSON, ORIE,
           ARMSTRONG, PIPPY, WONDERLING, BAKER, WAUGH, O'PAKE AND
           WASHINGTON, OCTOBER 4, 2007

        REFERRED TO ENERGY POLICIES, OCTOBER 4, 2007

                                     AN ACT

     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," further providing for limitation on research and
    11     development tax credits.

    12     The General Assembly of the Commonwealth of Pennsylvania
    13  hereby enacts as follows:
    14     Section 1.  Section 1709-B(a) of the act of March 4, 1971
    15  (P.L.6, No.2), known as the Tax Reform Code of 1971, amended
    16  July 12, 2006 (P.L.1137, No.116), is amended to read:
    17     Section 1709-B.  Limitation on Credits.--(a)  The total
    18  amount of credits approved by the department shall not exceed
    19  [forty million dollars ($40,000,000)] sixty million dollars
    20  ($60,000,000) in any fiscal year. Of that amount, eight million
    21  dollars ($8,000,000) shall be allocated exclusively for small
    22  businesses and twenty million dollars ($20,000,000) shall be

     1  allocated exclusively for alternative energy research and
     2  development. However, if the total amounts allocated to either
     3  the group of applicants exclusive of small businesses or the
     4  group of small business applicants is not approved in any fiscal
     5  year, the unused portion will become available for use by the
     6  other group of qualifying taxpayers.
     7     * * *
     8     Section 2.  This act shall take effect immediately.















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