PRINTER'S NO. 3244
No. 2418 Session of 2000
INTRODUCED BY CARN, BISHOP, WILLIAMS, SAINATO, MANDERINO,
PETRONE, DeWEESE, GEORGE, BROWNE, JOSEPHS, YOUNGBLOOD,
SEYFERT, PRESTON, BEBKO-JONES, CAPPABIANCA, WASHINGTON,
TRELLO, THOMAS, ROBINSON, READSHAW, STURLA, M. COHEN, COSTA,
DALEY, ROEBUCK, MYERS AND RAMOS, MARCH 22, 2000
REFERRED TO COMMITTEE ON FINANCE, MARCH 22, 2000
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," providing for teacher development tax credit.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
14 the Tax Reform Code of 1971, is amended by adding a section to
15 read:
16 Section 314.1. Teacher Development Tax Credit.--(a) There
17 shall be allowed as a credit against the tax imposed by this
18 section the amount the nonreimbursed expenses paid or incurred
19 for academic activities that satisfy the requirement of section
20 1205.2 of the act of March 10, 1949 (P.L.30, No.14), known as
1 the "Public School Code of 1949."
2 (b) The amount of the credit shall be one hundred dollars
3 ($100) per college credit hour and not to exceed five hundred
4 dollars ($500) in a taxable year.
5 (c) If the credit provided by this section exceeds the
6 qualified tax liability for the taxable year for which the
7 credit is first claimed, the excess may be carried over to
8 succeeding taxable years and used as a credit against the
9 qualified tax liability otherwise due and payable by the
10 taxpayer during those taxable years; Provided, That the total
11 amount of credit used in any tax year may not exceed the
12 qualified tax liability for that taxable year. Each time that
13 the credit is carried over to a succeeding taxable year, it is
14 to be reduced by the amount which was used as a credit during
15 the immediately preceding taxable year. The credit provided by
16 this section may be carried forward and applied to succeeding
17 taxable years for not more than five taxable years following the
18 unused credit year.
19 (d) This credit shall apply to all taxable years beginning
20 after December 31, 1999.
21 Section 2. This act shall take effect immediately.
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