Bill > SB949

This bill establishes a tax credit program called the Fueling Opportunities for the Revitalization, Growth and Efficiency of Steel (FORGES) Tax Credit and creates a sales tax exclusion for Pennsylvania steel products. The tax credit is designed to incentivize steel manufacturers in Pennsylvania to make significant capital investments in facility improvements, with companies eligible if they invest at least $50 million and create at least 100 full-time jobs. Companies can receive tax credits up to 3% of their capital investments, with an additional 3% credit for investments in advanced manufacturing technologies that enable lower-carbon steel production, increase electricity or hydrogen generation, or use recycled steel. The program will make $20 million in tax credits available annually, with each qualified taxpayer limited to receiving credits that do not exceed 30% of their total capital investments. Recipients must maintain employment levels for five years, implement workforce training programs, and cannot relocate operations out of Pennsylvania within five years of receiving the credit. The bill also creates a sales tax exclusion for steel products manufactured in Pennsylvania, covering products rolled, formed, shaped, or processed from steel made in the state, including cast iron and machinery made with Pennsylvania steel components. These provisions will take effect for tax years and sales starting after December 31, 2026.

Budget and Finance

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=S&type=B&bn=949