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PRINTER'S NO. 924
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
747
Session of
2019
INTRODUCED BY MENSCH, BROWNE, BARTOLOTTA, J. WARD, REGAN,
DINNIMAN, BOSCOLA AND YUDICHAK, JUNE 10, 2019
REFERRED TO FINANCE, JUNE 10, 2019
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 corporate net income tax, further providing
for manufacturing innovation and reinvestment deduction.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 407.7(a) and (d)(1) of the act of March
4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, are
amended to read:
Section 407.7. Manufacturing Innovation and Reinvestment
Deduction.--(a) In order to be eligible to receive a
manufacturing innovation and reinvestment deduction, a taxpayer
must demonstrate to the department a private capital investment
in excess of one [hundred million dollars ($100,000,000)]
million dollars ($1,000,000) for the creation of new or
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