Bill > SB440

This bill amends the Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits program to expand and modify tax incentives for semiconductor and biomedical manufacturing and research businesses. The key changes include creating a new category of "early-stage semiconductor businesses" defined as companies with less than $10 million in revenue, lowering the capital investment requirement for qualified taxpayers from $200 million to $20 million, and reducing the minimum job creation requirement from 800 to 100 permanent jobs. The bill also adjusts the annual tax credit allocation, setting aside a minimum of $1 million for semiconductor manufacturing, $1 million for biomedical manufacturing or research, and $100,000 specifically for early-stage semiconductor businesses, with individual early-stage businesses limited to $1 million per year for up to five years. Tax credits can be calculated based on capital investment (up to 2.5%) or employee withholdings (up to $20,000 per job), and qualified taxpayers can sell or assign their tax credits within certain timeframes. The broader purpose of the bill is to make tax incentives more accessible to smaller and emerging businesses in high-tech manufacturing and research sectors, potentially attracting more investment and job creation in Pennsylvania.

Budget and Finance

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=S&type=B&bn=440