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PRINTER'S NO. 555
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
168
Session of
2019
INTRODUCED BY HUGHES, SCHWANK, HAYWOOD, FONTANA, FARNESE,
STREET, SANTARSIERO, LEACH, BREWSTER, COSTA AND TARTAGLIONE,
APRIL 5, 2019
REFERRED TO FINANCE, APRIL 5, 2019
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 manufacturing and investment tax credit,
further providing for business firms and for tax credit
certificates.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Sections 1828-G(c) and 1829-G(b)(3) of the act of
March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of
1971, are amended to read:
Section 1828-G. Business firms.
* * *
[(c) Limitation.--The department may not approve more than
$4,000,000 in credit-eligible capital contributions under this
part.]
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Section 1829-G. Tax credit certificates.
* * *
(b) Review, recommendation and approval.--
* * *
(3) In awarding tax credit certificates under this part,
the department:
(i) [Beginning with] for fiscal year 2017-2018, may
not award tax credit certificates that would result in
the utilization of more than $1,000,000 in tax credits in
[any] fiscal year 2017-2018, except for tax credits
carried forward;
[(ii) May not award more than $4,000,000 in tax
credit certificates, in the aggregate, under this part.]
(ii) for fiscal year 2018-2019, may not award tax
credit certificates that would result in the utilization
of more than $1,000,000 in tax credits in fiscal year
2018-2019, except for tax credits carried forward;
(iii) for fiscal year 2019-2020, may not award tax
credit certificates that would result in the utilization
of more than $5,000,000 in tax credits in fiscal year
2019-2020, except for tax credits carried forward;
(iv) for fiscal year 2020-2021, may not award tax
credit certificates that would result in the utilization
of more than $10,000,000 in tax credits in fiscal year
2020-2021, except for tax credits carried forward;
(v) for fiscal year 2021-2022 and for each fiscal
year thereafter, may not award tax credit certificates
that would result in the utilization of more than
$15,000,000 in tax credits in fiscal year 2021-2022,
except for tax credits carried forward; and
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(vi) for fiscal year 2022-2023 and for each fiscal
year thereafter, may not award tax credit certificates
that would result in the utilization of more than
$20,000,000 in tax credits in fiscal year 2022-2023 or
any fiscal year thereafter, except for tax credits
carried forward.
Section 2. This act shall take effect immediately.
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