PRINTER'S NO. 3226
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
2358
Session of
2024
INTRODUCED BY PROKOPIAK, SAMUELSON, BRENNAN, SIEGEL, DONAHUE,
KINSEY, SAPPEY, HILL-EVANS, T. DAVIS, SCHLOSSBERG, ABNEY,
MALAGARI, ROZZI, PROBST, HARKINS AND FREEMAN, JUNE 4, 2024
REFERRED TO COMMITTEE ON FINANCE, JUNE 4, 2024
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 tax credit certificates.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1703-H(b)(2.3) and (5)(i) 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 1703-H. Tax credit certificates.
* * *
(b) Review, recommendation and approval.--
* * *
(2.3) Any amount of tax credit certificates up to the
annual program limit of [$5,000,000] $20,000,000 not awarded
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
within the initial application period shall be available on a
first-come, first-served basis through a process determined
by the Department of Community and Economic Development.
* * *
(5) In granting tax credit certificates under this
article, the Department of Community and Economic
Development:
(i) Shall not grant more than [$5,000,000]
$20,000,000 in tax credit certificates in any fiscal year
exclusive of any tax credit certificates not awarded or
returned from previous fiscal years.
* * *
Section 2. The amendment of section 1703-H(b)(2.3) and (5)
(i) of the act shall apply to fiscal years beginning after June
30, 2025.
Section 3. This act shall take effect immediately.
20240HB2358PN3226 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16