PennsylvaniaPennsylvania would cap rural investment tax credits at $60 million
Businesses investing in rural growth funds would face limits on contributions eligible for tax credits and on the credits the state could award.
What it does
Pennsylvania would allow up to $60 million in rural growth fund tax credit certificates overall, with a $12 million yearly limit. Credits carried forward from earlier years would be excluded from the yearly limit.
Rural growth funds in program two would have a closing date no later than December 31, 2024. Collecting required money or reassigning investment authority could trigger an earlier date.
Argument forTax credits could encourage businesses to put money into rural growth funds by reducing the taxes those businesses owe.
Argument againstAllowing businesses to use these tax credits could reduce state tax collections, leaving less money for other public needs.
More detail
The state would limit approved contributions and tax credit awards for the rural growth fund program. The limits would cover business contributions and tax credit certificates under the rural growth fund program. The state could approve up to $60 million in contributions eligible for tax credits. Credits carried forward from earlier years would not count toward the yearly limit. The act would take effect 60 days after becoming law; the yearly limit is written to apply beginning with fiscal year 2020–2021.
Program two would use the earliest listed trigger as its closing date. This closing-date rule would apply to program two tax credit authority for rural growth funds. An earlier closing date would apply when the fund collected all required amounts or investment authority was reassigned under the listed rules. The act would take effect 60 days after becoming law, although the listed December 31, 2024, closing date has already passed.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 19Referred to Rules & Executive NominationsLatest
- Vote recorded CONCURRENCE. Result: pass.Lower
- Vote recorded Committee vote (Rules): Re-report Bill As Amended. Result: pass.Lower
- Vote recorded Committee vote (Rules): Adopt Amendment A04700. Result: pass.Lower
- Oct 19House concurred in Senate amendments to House amendments, as amended by the HouseMajor
- Oct 19Re-reported on concurrence, as amendedMajor
- Oct 19Amended in House Committee on Rules
- Oct 6Re-committed to RulesMinor
- Jul 1Re-reported on concurrence, as amendedMajor
- Vote recorded Committee vote (Rules): Re-report Bill As Amended. Result: pass.Lower
- Vote recorded Committee vote (Rules): Adopt Amendment A04121. Result: pass.Lower
- Jul 1Amended in House Committee on Rules
- Jun 26Referred to RulesMinor
- Jun 25Final passagePassed Senate
- Vote recorded FINAL PASSAGE. Result: pass.Upper
- Vote recorded MOTION TO SUSPEND RULE 12. Result: pass.Upper
- Vote recorded WARD, J. AMENDMENT NO. A-3975-RECONSIDERED. Result: pass.Upper
- Vote recorded MOTION TO TABLE COLEMAN AMENDMENT NO. A-3980. Result: pass.Upper
- Vote recorded WARD, J. AMENDMENT NO. A-3975. Result: pass.Upper
- Vote recorded MOTION TO TABLE MUTH AMENDMENT NO. A-3974. Result: pass.Upper
- Vote recorded MOTION TO TABLE WILLIAMS, L. AMENDMENT NO. A-3972. Result: pass.Upper
- Vote recorded COSTA AMENDMENT NO. A-3969. Result: pass.Upper
- Vote recorded BOSCOLA AMENDMENT NO. A-3968. Result: pass.Upper
- Vote recorded MOTION TO SUSPEND RULE 12. Result: pass.Upper
- Vote recorded Committee vote (Appropriations): Re-Reported as Amended. Result: pass.Upper
- Vote recorded Committee vote (Appropriations): Adopt Amendment A03957. Result: pass.Upper
- Jun 25Third consideration, with amendmentsMinor
- Jun 25Re-reported as amendedMajor
- Jun 24Re-referred to AppropriationsMinor
- Jun 24Second considerationMinor
- Jun 23First considerationMinor
- Vote recorded Committee vote (Finance): Reported as Amended. Result: pass.Upper
- Vote recorded Committee vote (Finance): Adopt Amendment A03769. Result: pass.Upper
- Jun 23Reported as amendedMajor
- Oct 19Referred to Rules & Executive NominationsLatest
- 2025
- Oct 3Referred to FinanceMinor
- Sep 29Third consideration and final passagePassed House
- Vote recorded FINAL PASSAGE. Result: pass.Lower
- Sep 29Re-reported as committedMinor
- Jul 14Re-committed to AppropriationsMinor
- Jul 14Second considerationMinor
- Jul 14Re-reported as committedMinor
- Jun 30Re-committed to RulesMinor
- Jun 30First considerationMinor
- Jun 30Reported as committedMinor
- Jun 27Referred to FinanceIntroduced
Taxes & BudgetEconomy & Jobs