PENNSYLVANIA, May 26 - PRINTER'S NO. 765

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

681

Session of

2021

INTRODUCED BY YUDICHAK, J. WARD, GORDNER, SCAVELLO, PITTMAN,

AUMENT AND LAUGHLIN, MAY 17, 2021

REFERRED TO FINANCE, MAY 17, 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, providing for

temporary carry-forward allowance.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. The act of March 4, 1971 (P.L.6, No.2), known as

the Tax Reform Code of 1971, is amended by adding a section to

read:

Section 1703-A.1. Temporary carry-forward allowance.

Tax credits purchased in 2020 and 2021 may be carried forward

for one additional tax year from the date of purchase. Tax

credit sales initiated or purchased after December 31, 2021,

shall not be eligible for carry forward under this section.

Section 2. This act shall take effect immediately.

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