PENNSYLVANIA, April 22 - PRINTER'S NO. 1610

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

1205

Session of

2022

INTRODUCED BY ROBINSON, COSTA, KANE, FONTANA, LAUGHLIN, PITTMAN,

BARTOLOTTA, MENSCH, ARGALL, SCHWANK, YUDICHAK, BREWSTER,

TOMLINSON, VOGEL, BROWNE, SCAVELLO, YAW AND REGAN,

APRIL 22, 2022

REFERRED TO FINANCE, APRIL 22, 2022

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 waterfront development tax credit, further

providing for limitations.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. Section 1708-K(4) of the act of March 4, 1971

(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended

to read:

Section 1708-K. Limitations.

The following limitations shall apply to the tax credits:

* * *

(4) The total amount of all tax credits shall not exceed

[$1,500,000] $10,000,000 in any one fiscal year.

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