An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits, further providing for definitions, for applicability and for expiration.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill amends Pennsylvania’s Economic Development for a Growing Economy (PA EDGE) tax credits. It clarifies the definitions of ‘project facility’ and ‘qualified taxpayer,’ specifically expanding eligibility to include facilities that generate and add power to the electrical grid. The bill also adjusts the applicability and expiration dates for these tax credits, extending them through December 31, 2052. It also requires compliance with the Steel Products Procurement Act for construction work.
Key provisions
- Defines ‘project facility’ to include power generation facilities connected to the electrical grid.
- Defines ‘qualified taxpayer’ with stricter requirements including capital investment, job creation (800 permanent jobs), and local labor market recruitment.
- Extends the applicability period of the PA EDGE tax credits from January 1, 2024, to December 31, 2052.
- Sets the expiration date for the tax credits at December 31, 2052.
- Requires compliance with the Steel Products Procurement Act for construction work.
- Specifies minimum wage and benefit rates for new jobs created.
Who is affected
- Businesses
- Energy Companies
- Pennsylvania Employers
- Workers
- The Department of Revenue
Notable changes
- Expands the eligible project facilities to include power generation facilities.
Bill text
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Document of record
- Version
- Pn 1341 Html
- Published
- Not published in the source record
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Sponsors
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7 on record
Primary sponsor
Cosponsors
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