An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in sales and use tax, further providing for exclusions from tax; in corporate net income tax, further providing for definitions, for determination of net loss deduction, for imposition of tax, for reports and payment of tax, for timely mailing treated as timely filing and payment and for additional withholding requirements, repealing provisions relating to consolidated reports, further providing for extension of time to file reports, for changes made by Federal Government, for limitations on assessments, for definitions, for manufacturing innovation and reinvestment deduction, for enforcement, rules * * *
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill amends the Pennsylvania Tax Reform Code to create and extend tax credits for educational opportunities. It establishes a rural jobs and investment tax credit program, expands educational tax credits for students, and creates a manufacturing innovation and reinvestment deduction. The bill also includes provisions related to sales tax exclusions, gross receipts tax, and prohibits a tax on electric energy sales. Furthermore, it modifies definitions and reporting requirements within the tax code, including extending the timeframe for certain filings and establishing revenue-neutral reconciliation for gross receipts tax.
Key provisions
- Extends the rural jobs and investment tax credit program.
- Creates educational tax credits for students and educational improvement organizations.
- Establishes a manufacturing innovation and reinvestment deduction.
- Provides sales tax exclusions for personal computers and related devices.
- Imposes a tax on gross receipts from electric energy sales.
- Creates a revenue-neutral reconciliation for gross receipts tax.
- Modifies definitions related to ‘closing date’ and other key terms.
- Includes provisions for data centers and prohibits a tax on gross receipts from electric energy sales.
Who is affected
- Businesses
- Students and Families
- Schools (Public and Non-Public)
- Educational Organizations
- Taxpayers
Notable changes
Bill text
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Document of record
- Version
- Pn 3709 Html
- Published
- Not published in the source record
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Sponsors
Official sponsors from legislative records.
9 on record
Primary sponsor
Cosponsors
Benjamin Sanchez
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