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§ 8803-B. Application process

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-B. Tax Credit for New Jobs (Refs & Annos)
Effective: July 1, 2019
72 P.S. § 8803-B
§ 8803-B. Application process
Currentness
(a) Application.--A company must complete and submit to the department a job creation tax credit application.
(b) Creation of jobs.--Except as provided under this subsection, an applicant must agree to create at least 25 new jobs or to increase the applicant's number of employees by at least 20% within three years of the start date. A small business applicant must agree to increase the applicant's number of employees by at least 10% within three years after the start date.
(c) Approval.--If the department approves the company's application, the department and the company shall execute a commitment letter containing the following:
(1) A description of the project.
(2) The number of new jobs to be created.
(3) The amount of private capital investment in the project.
(3.1) A statement authorizing the per job credit as a single year or multiple year credit.
(4) The maximum job creation tax credit amount the company may claim.
(5) A signed statement that the company intends to maintain its operation in this Commonwealth for five years from the start date.
(6) Such other information as the department deems appropriate.
(d) Commitment letter.--After a commitment letter has been signed by both the Commonwealth and the company, the company shall receive a job creation tax credit certificate and filing information.
(e) Expiration.--The department may not approve an application for a tax credit under this article after June 30, 2020.

Credits

1971, March 4, P.L. 6, No. 2, art. XVIII-B, § 1803-B, added 2001, June 22, P.L. 353, No. 23, § 22, effective July 1, 2001. Amended 2012, July 2, P.L. 751, No. 85, § 19.2, imd. effective; 2019, June 28, P.L. 50, No. 13, § 17, effective July 1, 2019.
72 P.S. § 8803-B, PA ST 72 P.S. § 8803-B
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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