Bill > HB1267

This bill amends the Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credit program to expand and modify provisions related to semiconductor manufacturing and biomedical research. The bill introduces a new category called "early stage semiconductor business" defined as a business with less than $10 million in revenue focused on semiconductor research, design, packaging, or testing. The bill reduces the capital investment requirement for qualified taxpayers from $200 million to $100 million and lowers the job creation threshold from 800 to 100 permanent jobs. The tax credit calculation is modified to provide more flexibility, with a new provision specifically targeting early-stage semiconductor businesses that invest at least $3 million in research and development. The bill establishes separate tax credit allocations for semiconductor manufacturers and early-stage semiconductor businesses, with a minimum of $1 million available for semiconductor manufacturers (not exceeding $8 million aggregate annually) and a minimum of $100,000 for early-stage businesses (not exceeding $2 million aggregate annually), with individual early-stage businesses limited to $1 million per fiscal year and potentially receiving awards for up to five years. These changes aim to support and attract semiconductor and biomedical businesses to Pennsylvania by providing more accessible tax incentives.

Budget and Finance

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1267