SB 1356
An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in historic preservation incentive tax credit, further providing for tax credit certificates.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies Pennsylvania’s historic preservation incentive tax credit program. Specifically, it increases the maximum amount of tax credit certificates a single qualified taxpayer can receive in a fiscal year from $500,000 to $1,500,000. The bill aims to encourage the preservation of historic properties by providing financial incentives to property owners.
Key provisions
- Increases the maximum tax credit certificate amount for qualified taxpayers.
- Adjusts the limit from $500,000 to $1,500,000.
- Modifies Section 1703-H(b)(5)(ii) of the Tax Reform Code of 1971.
- Relates to historic preservation incentive tax credits.
- Specifies the Department of Community and Economic Development’s role in approving tax credit certificates.
Who is affected
- Property owners of historic properties
- Developers of historic properties
- The Department of Community and Economic Development
- Taxpayers
Notable changes
- Increases the maximum tax credit certificate amount.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
David Argall
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