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Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 9902-E. Reduction

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Article XVII-D.--For the tax credit established under Article XVII-D,  1 the amount available to be awarded pursuant to section 1707-D(a)  2 shall be reduced from $75,000,000 per fiscal year to $42,000,000 in fiscal year 2009-2010 and to $60,000,000 in fiscal year 2010-2011.

(b) Article XVII-F.--For the tax credit established under Article XVII-F,  3 the amount available to be awarded pursuant to section 1706-F(a)  4 shall be reduced from $75,000,000 per fiscal year to $60,000,000 in fiscal year 2009-2010 and to $50,000,000 in fiscal year 2010-2011.  The amount available to be awarded under section 1706-F(a)(1) and (2) shall be as follows:

(1) The total aggregate amount of all tax credits approved shall not exceed $53,600,000 in fiscal year 2009-2010.  No less than $37,967,000 of the total aggregate amount shall be used to provide tax credits from contributions from business firms to scholarship organizations.  No less than $15,633,000 of the total aggregate amount shall be used to provide tax credits for contributions from business firms to educational improvement organizations.

(2) The total aggregate amount of all tax credits approved for contributions from business firms to pre-kindergarten scholarship programs shall not exceed $6,400,000 in fiscal year 2009-2010.

(3) The total aggregate amount of all tax credits approved shall not exceed $44,670,000 in fiscal year 2010-2011.  No less than $33,502,000 of the total aggregate amount shall be used to provide tax credits for contributions from business firms to scholarship organizations.  No less than $11,168,000 of the total aggregate amount shall be used to provide tax credits for contributions from business firms to educational improvement organizations.

(4) The total aggregate amount of all tax credits approved for contributions from business firms to pre-kindergarten scholarship programs shall not exceed $5,330,000 in fiscal year 2010-2011.

Notwithstanding section 1704-F(c),  5 in fiscal year 2009-2010, if valid applications for tax credits received by the Department of Community and Economic Development before October 1, 2009, exceed the limitation under this section, tax credits shall be made available on a pro-rata basis to all valid applications received before October 1, 2009.

(c) Article XVII-B.--For the tax credit established under Article XVII-B,  6 the amounts available to be awarded pursuant to section 1709-B(a)  7 shall be equal to 50% of the maximum amounts otherwise available for award in fiscal year 2009-2010 and 45% of the maximum amounts otherwise available for award in fiscal year 2010-2011.

(d) Certain other credits.--For the tax credits established under section 206(b)  8 and Articles XVII-A, XVII-E, XVIII-B and XIX-A  9 and under Chapter 5 Subchapter B and Chapter 9 of the act of December 1, 2004 (P.L. 1750, No. 226), [FN10] known as the First Class Cities Economic Development District Act, the amounts available for award to each eligible taxpayer shall be determined such that the total amount available for award shall be 50% of the amounts otherwise available for award in total pursuant to the applicable sections or articles in fiscal year 2009-2010, and 45% of the amounts otherwise available for award in total pursuant to all applicable sections or articles in fiscal year 2010-2011.

(e) Hiatus.--Notwithstanding any other provision of law, a taxpayer is not entitled to a tax credit under Chapter 7 of the act of July 9, 2008 (1st Sp.Sess., P.L. 1873, No. 1), [FN11] known as the Alternative Energy Investment Act.

1  72 P.S. § 8701-D et seq.
2  72 P.S. § 8716-D.
3  72 P.S. § 8701-F et seq. (repealed);  see now, 24 P.S. § 20-2001-B et seq.
4  72 P.S. § 8706-F (repealed);  see now, 24 P.S. § 20-2006-B.
5  72 P.S. § 8704-F (repealed);  see now, 24 P.S. § 20-2004-B.
6  72 P.S. § 8701-B et seq.
7  72 P.S. § 8709-B.
8  72 P.S. § 7206.
9  72 P.S. §§ 8702-A et seq. (employment incentive payments), 8701-E et seq. (resource enhancement and protection tax credit), 8801-B et seq. (tax credit for new jobs), 8901-A et seq. (neighborhood assistance tax credit).
10  53 P.S. §§ 18200.511 et seq., 18200.901 et seq.
11  73 P.S. § 1649.701 et seq.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 9902-E. Reduction - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-9902-e/

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