PRINTER'S NO. 749
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
679
Session of
2023
INTRODUCED BY COSTA, BROOKS, FONTANA, KANE, BOSCOLA, BREWSTER,
SCHWANK, CAPPELLETTI AND MILLER, MAY 15, 2023
REFERRED TO FINANCE, MAY 15, 2023
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 mixed-use development tax credit, further
providing for mixed-use development tax credits.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1907-E(a) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
to read:
Section 1907-E. Mixed-use development tax credits.
(a) Tax credit authority.--For purposes, and in accordance
with the provisions of this article, the agency may allocate an
amount not to exceed [$4,500,000] $15,000,000 in each fiscal
year in mixed-use development tax credits and is directed to
deposit proceeds and earnings derived from the sale into the
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fund.
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Section 2. This act shall take effect in 60 days.
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