§ 8702-L. Definitions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: January 3, 2023
Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 5. Tax Reform Code of 1971 (Refs & Annos)
Article XVII-L. Pennsylvania Economic Development for a Growing Economy (PA Edge) Tax Credits (Refs & Annos)
Subarticle a. Preliminary Provisions (Refs & Annos)
Effective: January 3, 2023
72 P.S. § 8702-L
§ 8702-L. Definitions
The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise:
“Capital investment.” The amount of money or assets invested by a qualified taxpayer in constructing and placing into service one of the following in this Commonwealth:
(1) A project facility as defined in section 1711-L.1
(2) A project facility as defined in section 1731-L.2
(3) A project facility as defined in section 1751-L.3
(4) A project facility as defined in section 1771-L.4
“Company.” A corporation, partnership, limited liability company, limited liability partnership, business trust, affiliate, unincorporated joint venture or other business entity doing business in this Commonwealth.
“Department.” The Department of Revenue of the Commonwealth.
“Downstream company.” A company that purchases products or chemical compounds manufactured or processed by a qualified taxpayer.
“Full-time-equivalent job.” The quotient obtained by dividing the total number of hours for which employees were compensated for employment over the preceding 12-month period by 2,080.
“Natural gas.” As defined in 58 Pa.C.S. § 2301 (relating to definitions).
“New job.” A full-time-equivalent job created during the construction of the project facility and paying the prevailing minimum wage and benefit rates for each craft or classification as determined by the Department of Labor and Industry under the Prevailing Wage Act.
“Pass-through entity.” Any of the following:
(1) A partnership as defined in section 301(n.0).5
(2) A Pennsylvania S corporation as defined in section 301(n.1).
(3) An unincorporated entity subject to section 307.21.6
“Permanent job.” A full-time-equivalent job created to support the ongoing operation of the project facility.
“Prevailing Wage Act.” The act of August 15, 1961 (P.L. 987, No. 442),7 known as the Pennsylvania Prevailing Wage Act.
“Tax credit.” The Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credit provided under this article.
“Unit.” One thousand cubic feet of natural gas at a temperature of 60 degrees Fahrenheit and an absolute pressure of 14.73 pounds per square inch, in accordance with American Gas Association standards and according to Boyle's law for the measurement of gas under varying pressures with deviations therefrom as follows:
(1) The average absolute atmospheric pressure shall be assumed to be 14.4 pounds to the square inch, notwithstanding the actual elevation or location of point of delivery above sea level or variations in the atmospheric pressure.
(2) The temperature of the gas passing the meters shall be determined by the continuous use of a recording thermometer installed so that the thermometer may properly record the temperature of the gas flowing through the meters. The arithmetic average of the temperature recorded each 24-hour day shall be used in computing gas volumes. If a recording thermometer is not installed, or if installed and not operating properly, an average flowing temperature of 60 degrees Fahrenheit shall be used in computing gas volume.
(3) The specific gravity of the gas shall be determined by tests made by the use of an Edwards or Acme gravity balance annually or at intervals as are found necessary in practice. Specific gravity shall be used in computing gas volumes.
(4) The deviation of the natural gas from Boyle's law shall be determined by tests annually or at other shorter intervals as are found necessary in practice. The apparatus and the method to be used in making the tests shall be in accordance with recommendations of the National Bureau of Standards of the Department of Commerce or Report No. 3 of the Gas Measurement Committee of the American Gas Association on the effective date of this section. The results of the tests shall be used in computing the volume of gas delivered.
“Upstream company.” The term includes a company that is engaged in the exploration, development, manufacturing, production, processing, refining or transportation of natural gas, clean hydrogen, milk or products used in semiconductor manufacturing, biomedical manufacturing or biomedical research in this Commonwealth.
Credits
1971, March 4, P.L. 6, No. 2, art. XVII-L, § 1702-L, added 2022, Nov. 3, P.L. 1695, No. 108, § 4, effective in 60 days [Jan. 3, 2022].
Footnotes
72 P.S. § 8711-L.
72 P.S. § 8731-L.
72 P.S. § 8751-L.
72 P.S. § 8771-L.
72 P.S. § 7301.
72 P.S. § 7307.21.
43 P.S. § 165-1 et seq.
72 P.S. §§ 7301 et seq., 7401 et seq., 7701 et seq., 7801 et seq., 7901 et seq., 8101 et seq. and 8501 et seq.
72 P.S. § 7316.1.
72 P.S. § 8702-L, PA ST 72 P.S. § 8702-L
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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