Bill
Bill > HB303
summary
Introduced
01/23/2025
01/23/2025
In Committee
01/23/2025
01/23/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
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 sales and use tax, further providing for exclusions from tax.
AI Summary
This bill amends the Tax Reform Code of 1971 to create a new sales and use tax exclusion for construction materials, supplies, and services used in affordable housing projects. Specifically, the bill provides a tax exemption for materials and services purchased by construction contractors when they are used for constructing, reconstructing, remodeling, repairing, or maintaining affordable housing. The bill references a definition of "affordable housing" from section 1902-A (though the specific details of that definition are not provided in this text), and the new tax exclusion will take effect 60 days after the bill is enacted. By offering this tax exemption, the bill appears intended to reduce the cost of creating and maintaining affordable housing by eliminating sales and use taxes on related materials and services, which could potentially make such housing projects more financially feasible for contractors and developers.
Committee Categories
Budget and Finance
Sponsors (17)
James Prokopiak (D)*,
Lisa Borowski (D),
Danilo Burgos (D),
Johanny Cepeda-Freytiz (D),
Missy Cerrato (D),
Joe Ciresi (D),
Gina Curry (D),
Bob Freeman (D),
José Giral (D),
Roni Green (D),
Liz Hanbidge (D),
Carol Hill-Evans (D),
Malcolm Kenyatta (D),
Tarik Khan (D),
Chris Pielli (D),
Ben Sanchez (D),
Mike Schlossberg (D),
Last Action
Referred to Finance (on 01/23/2025)
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