PRIOR PRINTER'S NO. 1621
PRINTER'S NO. 1816
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1161
Session of
2015
INTRODUCED BY RESCHENTHALER, AUMENT, BARTOLOTTA, EICHELBERGER,
TEPLITZ, GREENLEAF, WHITE, FOLMER, GORDNER, VULAKOVICH,
SCARNATI, RAFFERTY, DINNIMAN, YUDICHAK, VOGEL, ARGALL,
BREWSTER, HUTCHINSON, McILHINNEY, MENSCH, BROWNE, STEFANO,
CORMAN AND WARD, MARCH 18, 2016
SENATOR EICHELBERGER, FINANCE, AS AMENDED, MAY 17, 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 educational tax credits, further providing for
TAX CREDITS AND FOR limitations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1706-F of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, amended
October 31, 2014 (P.L.2929, No.194), is amended to read:
SECTION 1. SECTION 1705-F OF THE ACT OF MARCH 4, 1971
(P.L.6, NO.2), KNOWN AS THE TAX REFORM CODE OF 1971, IS AMENDED
BY ADDING A SUBSECTION TO READ:
SECTION 1705-F. TAX CREDITS.
* * *
<--
<--
<--
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
(G.1) APPROVAL OF TAX CREDITS.--UNLESS REQUESTED BY THE
BUSINESS FIRM AND AGREED TO BY BOTH THE BUSINESS FIRM AND THE
DEPARTMENT AND UNLESS ALL AUTHORIZED CREDITS HAVE ALREADY BEEN
AWARDED:
(1) FOR FISCAL YEAR 2015-2016, NO LATER THAN 10 DAYS
AFTER THE EFFECTIVE DATE OF THIS SUBSECTION, THE DEPARTMENT
SHALL PROVIDE WRITTEN NOTICE OF ITS APPROVAL TO EACH BUSINESS
FIRM THAT SUBMITTED A COMPLETED APPLICATION UNDER SUBSECTION
(G).
(2) FOR FISCAL YEARS 2016-2017 AND THEREAFTER, THE
DEPARTMENT SHALL PROVIDE WRITTEN NOTICE UPON ITS APPROVAL TO
EACH BUSINESS FIRM THAT SUBMITTED A COMPLETED APPLICATION
UNDER SUBSECTION (G) BY AUGUST 15, OR 30 DAYS FOLLOWING THE
RECEIPT OF THE COMPLETED APPLICATION, WHICHEVER IS LATER.
(3) FOR FISCAL YEARS 2015-2016 AND THEREAFTER, THE
DEPARTMENT SHALL GIVE WRITTEN NOTICE OF ITS APPROVAL TO EACH
BUSINESS FIRM THAT SUBMITTED A COMPLETED APPLICATION UNDER
SUBSECTION (J)(2) WITHIN 30 DAYS FOLLOWING RECEIPT OF THE
COMPLETED APPLICATION.
* * *
SECTION 2. SECTION 1706-F(D) OF THE ACT, AMENDED OCTOBER 31,
2014 (P.L.2929, NO.194), IS AMENDED TO READ:
Section 1706-F. Limitations.
* * *
(d) Use.--[A]
(1) Except as provided in paragraph (2), a tax credit
not used by the [applicant] business firm in the taxable year
the contribution was made or in the year designated by the
shareholder, member or partner to whom the credit was
transferred under section 1705-F(e) may not be carried
20160SB1161PN1816 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
forward or carried back and is not refundable or
transferable.
(2) A tax credit awarded in fiscal year 2015-2016 to a
business firm making an approved contribution to a
scholarship organization, prekindergarten scholarship
organization, opportunity scholarship organization or
educational improvement organization may be used in the
taxable year in which a completed application was submitted
by the business firm or the taxable year in which the
contribution was made by the business firm, as determined by
the business firm.
* * *
Section 2. This act shall take effect immediately.
20160SB1161PN1816 - 3 -
1
2
3
4
5
6
7
8
9
10
11
12
13