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PRINTER'S NO. 1858
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1278
Session of
2015
INTRODUCED BY FONTANA, WOZNIAK, COSTA, VOGEL, WARD, TARTAGLIONE
AND STEFANO, JUNE 2, 2016
REFERRED TO FINANCE, JUNE 2, 2016
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 research and development tax credit, further
providing for time limitations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1707-B of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, amended
July 12, 2006 (P.L.1137, No.116), is amended to read:
Section 1707-B. [Time Limitations.--A taxpayer is not
entitled to a research and development tax credit for
Pennsylvania qualified research and development expenses
incurred in taxable years ending after December 31, 2015. The
termination date in section 41(h) of the Internal Revenue Code
of 1986 (Public Law 99-514, 26 U.S.C. ยง 41(h)) does not apply to
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a taxpayer who is eligible for the research and development tax
credit under this article for the taxable year in which the
Pennsylvania qualified research and development expense is
incurred.] (Reserved).
Section 2. This act shall take effect immediately.
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