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PRIOR PRINTER'S NO. 888
PRINTER'S NO. 1473
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
752
Session of
2015
INTRODUCED BY CHRISTIANA, TURZAI, SAYLOR, QUIGLEY, BARRAR,
V. BROWN, DEASY, DRISCOLL, DUNBAR, GRELL, A. HARRIS,
KAUFFMAN, KILLION, LAWRENCE, MAJOR, McGINNIS, MILLARD, RAPP,
READSHAW, TAYLOR, BLOOM, CUTLER, ZIMMERMAN, MARSICO, DIAMOND,
MENTZER, KORTZ, GABLER, PICKETT, MACKENZIE, MURT, WARD, COX,
VEREB, HELM, STAATS, HICKERNELL, GIBBONS, KNOWLES, GREINER,
TRUITT, PHILLIPS-HILL, MUSTIO, HEFFLEY, WATSON, FARRY, BOYLE,
RADER, MULLERY, REGAN, ORTITAY, SONNEY, EVERETT, BURNS AND
MICCARELLI, MARCH 9, 2015
AS AMENDED ON SECOND CONSIDERATION, HOUSE OF REPRESENTATIVES,
MAY 6, 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 EDUCATIONAL TAX CREDITS, further providing for
TAX CREDITS AND FOR limitations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1706-F(a) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, amended
October 31, 2014 (P.L.2929, No.194), is amended to read:
SECTION 1. SECTIONS 1705-F(J) AND 1706-F(A) OF THE ACT OF
MARCH 4, 1971 (P.L.6, NO.2), KNOWN AS THE TAX REFORM CODE OF
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1971, AMENDED OCTOBER 31, 2014 (P.L.2929, NO.194), ARE AMENDED
TO READ:
SECTION 1705-F. TAX CREDITS.
* * *
(J) REALLOCATION OF TAX CREDITS.--
(1) BEGINNING ON JANUARY 1 OF ANY FISCAL YEAR, IF ANY
TAX CREDITS AUTHORIZED UNDER THIS ARTICLE FOR CONTRIBUTIONS
TO ANY OF THE CATEGORIES OF SCHOLARSHIP ORGANIZATIONS,
OPPORTUNITY SCHOLARSHIP ORGANIZATIONS OR PRE-KINDERGARTEN
SCHOLARSHIP ORGANIZATIONS REMAIN UNAWARDED, SUCH UNAWARDED
TAX CREDITS MAY BE REALLOCATED TO ANY OF THE CATEGORIES OF
SCHOLARSHIP ORGANIZATIONS, OPPORTUNITY SCHOLARSHIP
ORGANIZATIONS OR PRE-KINDERGARTEN SCHOLARSHIP ORGANIZATIONS
FOR WHICH ALL AVAILABLE TAX CREDITS HAVE BEEN AWARDED. THE
DEPARTMENT SHALL, WITHIN TEN BUSINESS DAYS, INFORM EACH
BUSINESS FIRM ON THE WAITING LIST MAINTAINED BY THE
DEPARTMENT UNDER SUBSECTION (H) THAT TAX CREDITS REMAIN
AVAILABLE UNDER ANOTHER CATEGORY FOR WHICH THE BUSINESS FIRM
HAS NOT YET APPLIED. IF A BUSINESS FIRM NOTIFIED UNDER THIS
PARAGRAPH ELECTS, THE DEPARTMENT SHALL REALLOCATE AVAILABLE
TAX CREDITS FOR AWARD TO THE BUSINESS FIRM IN THE BUSINESS
FIRM'S PREFERRED TAX CREDIT CATEGORY, NOTWITHSTANDING THE
LIMITATIONS CONTAINED IN SECTION 1706-F(A). THE AMOUNT OF TAX
CREDITS TO BE AWARDED TO A BUSINESS FIRM UNDER THIS PARAGRAPH
SHALL NOT EXCEED THE AMOUNT OF TAX CREDITS AVAILABLE FOR
REALLOCATION OR THE MAXIMUM AMOUNT OF TAX CREDITS FOR WHICH A
BUSINESS FIRM IS ELIGIBLE UNDER SUBSECTIONS (A), (A.1), (C)
AND (D). EACH BUSINESS FIRM SHALL HAVE TEN BUSINESS DAYS FROM
THE DATE OF THE DEPARTMENT'S NOTICE TO ELECT A REALLOCATION
OF TAX CREDITS UNDER THIS PARAGRAPH. THE DEPARTMENT SHALL
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AWARD TAX CREDITS ON A FIRST-COME, FIRST-SERVED BASIS.
(2) AFTER THE DEPARTMENT HAS AWARDED TAX CREDITS UNDER
PARAGRAPH (1), THE DEPARTMENT SHALL ACCEPT NEW APPLICATIONS
FOR REALLOCATION OF TAX CREDITS FROM ANY OF THE CATEGORIES OF
SCHOLARSHIP ORGANIZATIONS, OPPORTUNITY SCHOLARSHIP
ORGANIZATIONS OR PRE-KINDERGARTEN SCHOLARSHIP ORGANIZATIONS
FOR WHICH TAX CREDITS REMAIN AVAILABLE TO THE APPLICANT'S
PREFERRED CATEGORY OF SCHOLARSHIP ORGANIZATIONS, OPPORTUNITY
SCHOLARSHIP ORGANIZATIONS OR PRE-KINDERGARTEN SCHOLARSHIP
ORGANIZATIONS FOR WHICH ALL AVAILABLE TAX CREDITS HAVE BEEN
AWARDED, NOTWITHSTANDING ANY LIMITATIONS CONTAINED IN SECTION
1706-F(A). THE AMOUNT OF TAX CREDITS TO BE AWARDED TO A
BUSINESS FIRM UNDER THIS PARAGRAPH SHALL NOT EXCEED THE
AMOUNT OF TAX CREDITS AVAILABLE FOR REALLOCATION OR THE
MAXIMUM AMOUNT OF TAX CREDITS FOR WHICH A BUSINESS FIRM IS
ELIGIBLE UNDER SUBSECTIONS (A), (A.1), (C) AND (D). THE
DEPARTMENT SHALL AWARD TAX CREDITS ON A FIRST-COME, FIRST-
SERVED BASIS.
(2.1) IN ANY FISCAL YEAR, THE FIRST $10,000,000 IN TAX
CREDITS AVAILABLE FOR REALLOCATION UNDER PARAGRAPHS (1) AND
(2) SHALL BE SET ASIDE FOR CONTRIBUTIONS TO PRE-KINDERGARTEN
SCHOLARSHIP ORGANIZATIONS. IF $10,000,000 IN TAX CREDITS HAVE
NOT BEEN AWARDED TO PRE-KINDERGARTEN SCHOLARSHIP
ORGANIZATIONS UNDER PARAGRAPHS (1) AND (2) PRIOR TO MARCH 1
OF ANY FISCAL YEAR, THE REMAINING TAX CREDITS AVAILABLE FOR
REALLOCATION UNDER PARAGRAPHS (1) AND (2) SHALL BE MADE
AVAILABLE FOR CONTRIBUTIONS TO ANY OF THE CATEGORIES OF
SCHOLARSHIP ORGANIZATIONS, OPPORTUNITY SCHOLARSHIP
ORGANIZATIONS OR PRE-KINDERGARTEN SCHOLARSHIP ORGANIZATIONS.
(3) NO TAX CREDITS SHALL BE AWARDED UNDER THIS
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SUBSECTION UNTIL THE DEPARTMENT HAS COMPLETED THE AWARD OF
TAX CREDITS FOR APPLICATIONS MADE UNDER SUBSECTION (I).
(4) THE DEPARTMENT SHALL NOT REALLOCATE TAX CREDITS FROM
ANY OF THE CATEGORIES OF SCHOLARSHIP ORGANIZATIONS,
OPPORTUNITY SCHOLARSHIP ORGANIZATIONS OR PRE-KINDERGARTEN
SCHOLARSHIP ORGANIZATIONS TO THE CATEGORY OF EDUCATIONAL
IMPROVEMENT ORGANIZATIONS.
(5) SUBSECTIONS (B) AND (G) SHALL NOT APPLY TO AN
APPLICATION FOR REALLOCATION OF TAX CREDITS UNDER THIS
SUBSECTION.
Section 1706-F. Limitations.
(a) Amount.--
(1) The total aggregate amount of all tax credits
approved for contributions from business firms to scholarship
organizations, educational improvement organizations and pre-
kindergarten scholarship organizations shall not exceed
[$100,000,000] $170,000,000 in a fiscal year.
(i) No less than [$60,000,000] $102,000,000 of the
total aggregate amount shall be used to provide tax
credits for contributions from business firms to
scholarship organizations.
(ii) No less than [$30,000,000] $51,000,000 of the
total aggregate amount shall be used to provide tax
credits for contributions from business firms to
educational improvement organizations.
(iii) The total aggregate amount of all tax credits
approved for contributions from business firms to pre-
kindergarten scholarship organizations shall not exceed
[$10,000,000] $17,000,000 in a fiscal year.
(2) The total aggregate amount of all tax credits
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approved for contributions from business firms to opportunity
scholarship organizations shall not exceed [$50,000,000]
$80,000,000 in a fiscal year.
* * *
Section 2. This act shall take effect in 60 days.
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