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§ 8828-G. Business firms

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 1, 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-G. Manufacturing and Investment Tax Credit (Refs & Annos)
Part II. Rural Jobs and Investment Tax Credit
Effective: July 1, 2019
72 P.S. § 8828-G
§ 8828-G. Business firms
Currentness
(a) General rule.--To qualify for a tax credit, credit-eligible capital contributions made by a business firm to a rural growth fund must be used by the rural growth fund for rural growth investments in a rural business under this part.
(b) Submission.--In connection with the documentation submitted under section 1825-G(b),1 a rural growth fund shall submit, on behalf of its business firm investors, on a form and in a manner required by the department, a description of credit-eligible capital contributions for approval by the department. The submission shall include for each credit-eligible capital contribution:
(1) The amount of the credit-eligible capital contribution.
(2) The name of the rural growth fund to which the credit-eligible capital contribution was made.
(3) The closing date.
(4) Any other information required by the department.
(c) Limitation.--The department may not approve more than $30,000,000 in credit-eligible capital contributions under this part.

Credits

1971, March 4, P.L. 6, No. 2, art. XVIII-G, § 1828-G, added 2016, July 13, P.L. 526, No. 84, § 38.1, imd. effective. Amended 2019, June 28, P.L. 50, No. 13, § 19, effective July 1, 2019.

Footnotes

1
72 P.S. § 8825-G.
72 P.S. § 8828-G, PA ST 72 P.S. § 8828-G
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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