PRIOR PRINTER'S NO. 1454 PRINTER'S NO. 1828
No. 1188 Session of 1997
INTRODUCED BY PUNT, HELFRICK, SALVATORE, WENGER, MOWERY,
TARTAGLIONE, TOMLINSON, WOZNIAK, GERLACH, WHITE, ARMSTRONG,
DELP, COSTA, RHOADES, BRIGHTBILL, HART, SLOCUM, THOMPSON AND
MURPHY, NOVEMBER 6, 1997
SENATOR TILGHMAN, APPROPRIATIONS, RE-REPORTED AS AMENDED,
MARCH 24, 1998
AN ACT
1 Amending the act of June 29, 1996 (P.L.434, No.67), entitled "An
2 act to enhance job creation and economic development by
3 providing for an annual financing strategy, for opportunity
4 grants, for job creation tax credits, for small business
5 assistance and for the Small Business Advocacy Council;
6 conferring powers and duties on various administrative
7 agencies and authorities; further providing for various
8 funds; and making repeals," INCREASING THE MAXIMUM ANNUAL <--
9 AMOUNT OF JOB CREATION TAX CREDITS; AND further providing for
10 prohibitions on job creation tax credits.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. Section 905 of the act of June 29, 1996 (P.L.434, <--
14 No.67), known as the Job Enhancement Act, is amended to read:
15 SECTION 1. SECTIONS 904(E) AND 905 OF THE ACT OF JUNE 29, <--
16 1996 (P.L.434, NO.67), KNOWN AS THE JOB ENHANCEMENT ACT, ARE
17 AMENDED TO READ:
18 SECTION 904. TAX CREDITS.
19 * * *
20 (E) MAXIMUM.--THE TOTAL AMOUNT OF ALL TAX CREDITS APPROVED
1 IN A YEAR UNDER THIS CHAPTER SHALL NOT EXCEED [$15,000,000]
2 $20,000,000.
3 Section 905. Prohibitions.
4 (a) Prohibitions.--The following actions with regard to job
5 creation tax credits are prohibited:
6 (1) Approval of jobs that have been created prior to the
7 start date.
8 (2) Approval for a company which is relocating
9 operations from one municipality in this Commonwealth to
10 another unless special circumstances exist and the
11 municipality that is losing the existing jobs has an
12 opportunity to submit comments prior to action by the
13 department. If the department approves the tax credits, the
14 company must commit to preserving the existing employees, and
15 the credit shall apply only to the new jobs.
16 (3) The assignment, transfer or use of credits by any
17 other company.
18 (b) Allocations.--Twenty-five percent of all tax credits
19 approved in any fiscal year shall be available to companies with
20 fewer than [26] 100 employees. Any portion of this allocation
21 not committed by April 30 of each year shall be available to any
22 business which meets the remaining program criteria.
23 Section 2. This act shall take effect in 60 days JULY 1, <--
24 1998.
J24L12JAM/19970S1188B1828 - 2 -