PRINTER'S NO. 128
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
219
Session of
2015
INTRODUCED BY FONTANA, STACK, BREWSTER, BLAKE, YUDICHAK, COSTA,
SCHWANK, WILEY, BOSCOLA, SMITH, FARNESE, HUGHES AND LEACH,
JANUARY 15, 2015
REFERRED TO FINANCE, JANUARY 15, 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," providing for reissuance of film production tax
credits.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
the Tax Reform Code of 1971, is amended by adding a section to
read:
Section 1704.1-D. Reissuance of film production tax credits.
(a) Reissuance.--In any fiscal year, the department may
reissue a tax credit which meets all of the following:
(1) The tax credit was approved under section 1703-D(b).
(2) The contract was signed under section 1703-D(c).
(3) The tax credit was awarded and a certificate was
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issued under section 1703-D(d).
(b) Amount.--The amount of a tax credit to be reissued shall
be calculated as the difference between the amounts in
subsection (a)(1) and (3). A tax credit reissued under this
section shall be subject to each provision of this article,
except for the limitation under section 1707-D(a).
(c) Applicability.--This section shall apply to a tax credit
awarded under this article in any fiscal year.
Section 2. This act shall take effect immediately.
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