PENNSYLVANIA, June 23 - PRIOR PRINTER'S NO. 836

PRINTER'S NO. 869

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

734

Session of

2021

INTRODUCED BY HAYWOOD, SANTARSIERO, COSTA, KANE, TARTAGLIONE,

MENSCH, HUGHES, CAPPELLETTI AND MUTH, JUNE 3, 2021

SENATOR HUTCHINSON, FINANCE, AS AMENDED, JUNE 8, 2021

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 tax credit eligibility, further providing for

definitions and for eligibility and providing for independent

audit for tax credits, for additional requirements for

certain tax credits, for independent audit for certain tax

benefits, for additional requirements for tax benefits, for

broker registration, for tax credit administration, for tax

benefit administration and for guidelines; in research and

development tax credit, further providing for credit for

research and development expenses and for report to General

Assembly; in keystone innovation zones, further providing for

keystone innovation zone tax credits and for annual report;

and making editorial changes.

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 TAX CREDIT ELIGIBILITY, FURTHER PROVIDING FOR

DEFINITIONS AND FOR ELIGIBILITY AND PROVIDING FOR APPLICATION

AND ADMINISTRATION, FOR ASSESSMENT, FOR ADMINISTERING AGENCY

TRAINING, FOR BROKER REGISTRATION, FOR TAX CREDIT AND TAX

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