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PA HB1667
PA HB1667In manufacturing and investment tax credit, further providing for definitions, for business firms and for tax credit certificates.
summary
Introduced
06/27/2025
06/27/2025
In Committee
10/03/2025
10/03/2025
Crossed Over
09/29/2025
09/29/2025
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 manufacturing and investment tax credit, further providing for definitions, for business firms and for tax credit certificates.
AI Summary
This bill amends the Tax Reform Code of 1971 to modify provisions related to rural growth tax credits and investment tax certificates. Specifically, the bill expands the definition of "closing date" for tax credit programs by adding a third option of December 31, 2024, and increases the maximum amount of credit-eligible capital contributions and tax credit certificates from $30 million to $60 million. The bill also raises the annual fiscal year tax credit utilization limit from $6 million to $12 million, while maintaining the existing exception for carried-forward tax credits. These changes appear designed to provide more flexibility and increase the financial capacity for rural growth investment programs by effectively doubling the available tax credit resources. The bill will take effect 60 days after its enactment, giving businesses and state agencies time to prepare for the updated tax credit framework.
Committee Categories
Budget and Finance
Sponsors (11)
Paul Takac (D)*,
Roni Green (D),
Manny Guzman (D),
Carol Hill-Evans (D),
Dave Madsen (D),
La'Tasha Mayes (D),
Ed Neilson (D),
Steve Samuelson (D),
Ben Sanchez (D),
Joe Webster (D),
Dan Williams (D),
Last Action
Referred to Finance (on 10/03/2025)
bill text
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1667 |
| House Fiscal Note PN 2043 | https://www.legis.state.pa.us/WU01/LI/BI/FN/2025/0/HB1667P2043.pdf |
| BillText | https://www.legis.state.pa.us/cfdocs/legis/PN/Public/btCheck.cfm?txtType=PDF&sessYr=2025&sessInd=0&billBody=H&billTyp=B&billNbr=1667&pn=2043 |
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