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§ 8805-H. Departmental duties

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: September 3, 2019

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 XVIII-H. Tax Credits Relating to Beginning Farmers (Refs & Annos)
Effective: September 3, 2019
72 P.S. § 8805-H
§ 8805-H. Departmental duties
Currentness
(a) Duties.--The department shall:
(1) Share information with the Secretary of Revenue to the extent necessary to administer provisions under this article and Article III.1
(2) Annually notify the Secretary of Revenue of approval and certification or recertification of beginning farmers and owners of agricultural assets under this section. For tax credits under section 1803-H,2 the notification must include the amount of tax credit approved by the department and stated on the tax credit certificate.
(b) Validity of certification.--The certification of a beginning farmer or an owner of agricultural assets under this article is valid for the year of the certification and the two following years, after which time the beginning farmer or owner of agricultural assets must apply to the department for recertification.
(c) Limitation on amount.--
(1) For tax credits for owners of agricultural assets allowed under section 1803-H, the department may allocate no more than $5,000,000 for the taxable year beginning after December 31, 2019, and may allocate no more than $6,000,000 for the taxable years beginning after December 31, 2020.
(2) The department shall allocate tax credits on a first-come, first-served basis beginning on January 1 of each year, except that recertifications for the second and third years of tax credits under section 1803-H(a)(1) and (2) have first priority. Any amount authorized but not allocated in any taxable year does not cancel and is added to the allocation for the next taxable year.

Credits

1971, March 4, P.L. 6, No. 2, art. XVIII-H, § 1805-H, added 2019, July 2, P.L. 399, No. 65, § 1, effective in 60 days [Sept. 3, 2019].

Footnotes

1
72 P.S. § 7301 et seq.
2
72 P.S. § 8803-H.
72 P.S. § 8805-H, PA ST 72 P.S. § 8805-H
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document