PRINTER'S NO. 293
No. 279 Session of 1987
INTRODUCED BY RHOADES, LINCOLN, HELFRICK, SHUMAKER, O'PAKE,
CORMAN, AFFLERBACH, ANDREZESKI, STAPLETON, PECORA, HOPPER,
SHAFFER, LEMMOND AND SALVATORE, FEBRUARY 5, 1987
REFERRED TO FINANCE, FEBRUARY 5, 1987
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 corporate net income tax by
11 creating a credit for coal use.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
15 the Tax Reform Code of 1971, is amended by adding a section to
16 read:
17 Section 402.1. Allowable Credits.--For the tax year
18 beginning January 1, 1988 and for all subsequent years, a credit
19 shall be allowed against taxable corporate income in an amount
20 equal to twenty-five per cent of the amount expended by the
21 corporation to install a coal-burning heating or cooling system
22 in a place of business. The coal-burning system shall include
1 boilers, furnaces, stokers and stoves fueled by coal, coal-based
2 derivatives and coal slurry mixtures. Equipment and facilities
3 which are integral parts of the unit for fuel handling and
4 storage shall also be included.
5 Section 2. This act shall take effect immediately.
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