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PRINTER'S NO. 634
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
586
Session of
2021
INTRODUCED BY ARGALL, FONTANA, KANE, MASTRIANO, STEFANO,
YUDICHAK AND AUMENT, APRIL 20, 2021
REFERRED TO FINANCE, APRIL 20, 2021
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 historic preservation incentive tax credit,
further providing for definitions.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The definition of "qualified taxpayer" in section
1702-H of the act of March 4, 1971 (P.L.6, No.2), known as the
Tax Reform Code of 1971, is amended to read:
Section 1702-H. Definitions.
The following words and phrases when used in this article
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
* * *
"Qualified taxpayer." Any natural person, corporation,
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business trust, limited liability company, partnership, limited
liability partnership, association or any other form of legal
business entity that:
(1) Is subject to a tax imposed under Article III, IV,
VI, VII, VIII, IX, XI or XV, excluding any tax withheld by an
employer under Article III.
(2) Owns a qualified historic structure.
The term includes any entity that is exempt from Federal income
taxation under section 501(c)(3) of the Internal Revenue Code of
1986 (Public Law 99-514, 26 U.S.C. ยง 501(c)(3)) and owns a
qualified historic structure.
* * *
Section 2. This act shall take effect in 60 days.
20210SB0586PN0634 - 2 -
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