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§ 8708-A.1. Allocation of tax credits or tax benefits awarded upon appeal

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 30, 2021

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-a.1. Tax Credit and Tax Benefit Administration (Refs & Annos)
Effective: July 30, 2021
72 P.S. § 8708-A.1
§ 8708-A.1. Allocation of tax credits or tax benefits awarded upon appeal
Currentness
(a) Appeal.--If an administering agency denies an applicant's application for a tax credit or tax benefit program, the applicant may appeal the administering agency's determination in the same manner as provided by Article XXVII.1
(b) Awarding of tax credit or tax benefit upon appeal.--The following shall apply to an allocation of tax credits awarded upon the final resolution of an appeal:
(1) If an applicant is awarded a tax credit which is subject to a total annual limitation, upon the final resolution of an appeal after the full allocation of credits available for a fiscal year is completely expended, the administering agency shall include the awarded tax credit within the distribution of tax credits in the next program year after the resolution of the appeal for which an amount for allocation is available.
(2) When awarding a tax credit to an applicant under paragraph (1), the administering agency shall apply any reduction in the awarded tax credit amount as was applied in the program year for which the credit was denied if the reduction was applied due to the total credits applied for exceeding the amount of credits allocated for the program year.
(3) When awarding a tax credit to an applicant under paragraph (1), the administering agency shall reduce the total amount of credits available for allocation in the next program year by the amount of credits awarded.
(4) The awarded tax credits under paragraph (1) shall apply for the program year in which the credit was denied.
(c) Appeal.--If the Department of Community and Economic Development denies an applicant's application for a tax credit or tax benefit program, the applicant may appeal in a manner established by the Department of Community and Economic Development.
(d) Definition.--As used in this section, the term “administering agency” does not include the Department of Community and Economic Development.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-A.1, § 1708-A.1, added 2021, June 30, P.L. 124, No. 25, § 13, effective in 30 days [July 30, 2021].

Footnotes

1
72 P.S. § 9701 et seq.
72 P.S. § 8708-A.1, PA ST 72 P.S. § 8708-A.1
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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