(a) Payment of capital.--Capital committed by a qualified taxpayer shall be paid to the agency for deposit into the fund. The agency may establish an installment payment schedule for payments to be made by the qualified taxpayer in accordance with guidelines established by the agency.
(b) Issuance of tax credit certificates.--Beginning July 1, 2017, the agency shall issue to each qualified taxpayer a tax credit certificate upon receipt of payment of capital.
(c) Certificate form.--The agency shall issue tax credit certificates to qualified taxpayers in a form determined by the agency in consultation with the department.
(d) Contents.--The tax credit certificate shall contain all of the following:
(1) The total amount of tax credits that a qualified taxpayer may claim.
(2) The amount of capital that the qualified taxpayer has contributed or agreed to contribute in return for the issuance of the tax credit certificate.
(3) The possible penalties or other remedies for noncompliance.
(4) The requirements for transferring the tax credits to other qualified taxpayers.
(5) Limitations and procedures for carryover of the tax credit.
(6) Reporting requirements.
(7) Any other requirements or content the agency, in consultation with the department, considers appropriate.
Credits
1971, March 4, P.L. 6, No. 2, art. XIX-E, § 1908-E, added 2016, July 13, P.L. 526, No. 84, § 43, effective in 60 days [Sept. 12, 2016].
72 P.S. § 8908-E, PA ST 72 P.S. § 8908-E
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
