PRINTER'S NO. 1610
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1205
Session of
2022
INTRODUCED BY ROBINSON, COSTA, KANE, FONTANA, LAUGHLIN, PITTMAN,
BARTOLOTTA, MENSCH, ARGALL, SCHWANK, YUDICHAK, BREWSTER,
TOMLINSON, VOGEL, BROWNE, SCAVELLO, YAW AND REGAN,
APRIL 22, 2022
REFERRED TO FINANCE, APRIL 22, 2022
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 waterfront development tax credit, further
providing for limitations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1708-K(4) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
to read:
Section 1708-K. Limitations.
The following limitations shall apply to the tax credits:
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(4) The total amount of all tax credits shall not exceed
[$1,500,000] $10,000,000 in any one fiscal year.
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Section 2. This act shall take effect in 60 days.
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