Pennsylvania Statutes Title 73 P.S. Trade and Commerce § 1649.704. Award of tax credits

(a) Qualification.--A taxpayer that is eligible under section 703  1 shall receive an alternative energy production tax credit for the taxable year in an amount equal to 15% of the total amount of all development, equipment and construction costs paid for alternative energy production projects, not to exceed $1,000,000 for each taxpayer, in the taxable year to be applied against the taxpayer's qualified tax liability.

(b) Calculation.--In calculating the total amount of all development, equipment and construction costs paid for alternative energy production projects, the taxpayer shall deduct the amount of any grant or other subsidy received in relation to the alternative energy production project for which the credit is sought by the taxpayer from a Federal, State or local government entity, including an authority.

(c) Notification of applicant.--The department shall, within 90 days of receipt, review each application and notify the applicant whether or not the applicant is approved for a tax credit.

(d) Notification of Department of Revenue.--Upon determination by the department that an approved applicant has incurred costs for an alternative energy production project, the Department of Revenue shall issue to an applicant a tax certificate that sets forth the amount of alternative energy production tax credit approved for the eligible applicant.