§ 8701-A.1. Definitions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 30, 2021
Effective: July 30, 2021
72 P.S. § 8701-A.1
§ 8701-A.1. Definitions
The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise:
“Administering agency.” A department, board or commission that administers a tax credit or tax benefit as required by a law of this Commonwealth. The term does not include a keystone innovation zone coordinator under Article XIX-F.1
“Applicant.” A person applying to an administering agency for a tax credit or a tax benefit.
“Application.” An application submitted to an administering agency by an applicant for a tax credit or tax benefit. The term includes a transfer application and supplemental documentation required to be provided by an applicant, including reports, returns and statements.
“Broker.” A person that engages in the business of effectuating transactions in tax credits for the account of others, including assisting a taxpayer to apply for, sell, transfer, assign or purchase a tax credit. The term includes an entity and all of the following that perform similar functions for the entity:
(1) A partner, officer or director of the entity.
(2) An affiliate of the entity.
(3) Any other person occupying a similar status of the entity.
“Department.” The Department of Revenue of the Commonwealth.
“Person.” Any individual, employer, association, fiduciary, partnership, corporation, entity, estate or trust, whether a resident or nonresident of this Commonwealth.
“Program year.” The annual period in which the tax credit or tax benefit operates.
“Recipient.” A person that is sold, assigned or transferred a transferrable tax credit.
“Tax benefit.” For purposes of this article, a tax benefit authorized under any of the following:
(1) Article XVII-A.2
(2) Article XVIII-C.3
(3) Article XIX-B.4
(4) Article XIX-D.5
(5) Article XXIX-C.6
(6) Article XXIX-D.7
(7) The act of October 6, 1998 (P.L. 705, No. 92),8 known as the Keystone Opportunity Zone, Keystone Opportunity Expansion Zone and Keystone Opportunity Improvement Zone Act.
“Tax credit.” A tax credit authorized under any of the following:
(1) Article XVII-B.9
(2) Article XVII-D.10
(3) Article XVII-E.11
(4) Article XVII-G.12
(5) Article XVII-H.13
(6) Article XVII-I.14
(7) Article XVII-J.15
(8) Article XVII-K.16
(8.1) Article XVII-L.17
(9) Article XVIII.18
(10) Article XVIII-B.19
(11) Article XVIII-D.20
(12) Article XVIII-E.21
(13) Article XVIII-F.22
(14) Article XVIII-G.23
(14.1) Article XVIII-H.24
(15) Article XIX-A.25
(15.1) Article XIX-C.26
(16) Article XIX-E.27
(16.1) Article XIX-F.
(17) Section 2010.28
(18) Deleted by 2021, June 30, P.L. 124, No. 25, § 11, effective in 30 days [July 30, 2021].
(19) Article XX-B of the act of March 10, 1949 (P.L. 30, No. 14),29 known as the Public School Code of 1949.
(20) The act of December 1, 2004 (P.L. 1750, No. 226),30 known as the First Class Cities Economic Development District Act.
(21) 12 Pa.C.S. Ch. 34 (relating to Infrastructure and Facilities Improvement Program).
(22) Any other program established by a law of this Commonwealth in which a person applies for and receives a credit against a tax. This paragraph shall not apply to a credit against a tax liability as a result of an overpayment.
“Taxpayer.” A person that was approved for a tax credit or tax benefit or that received a transferrable tax credit by sale, assignment or transfer.
“Transfer application.” An application submitted to the department or the administering agency by an applicant or a recipient as part of the sale, assignment or transfer of a transferrable tax credit to a recipient.
“Transferrable tax credit.” A tax credit which may be sold, assigned or transferred from an applicant to a different taxpayer. The term includes a tax credit which may be transferred to a shareholder, member or partner of an applicant.
Credits
1971, March 4, P.L. 6, No. 2, art. XVII-A.1, § 1701-A.1, added 2017, Oct. 30, P.L. 672, No. 43, § 31, effective in 60 days [Dec. 29, 2017]. Amended 2021, June 30, P.L. 124, No. 25, § 11, effective in 30 days [July 30, 2021].
Footnotes
72 P.S. § 8901-F et seq.
72 P.S. § 8701-A et seq.
72 P.S. § 8801-C et seq.
72 P.S. § 8901-B et seq.
72 P.S. § 8901-D et seq.
72 P.S. § 9901-C et seq.
72 P.S. § 9901-D et seq.
73 P.S. § 820.101 et seq.
72 P.S. § 8701-B et seq.
72 P.S. § 8701-D et seq.
72 P.S. § 8701-E et seq.
72 P.S. § 8701-G et seq.
72 P.S. § 8701-H et seq.
72 P.S. § 8701-I et seq.
72 P.S. § 8701-J et seq.
72 P.S. § 8701-K et seq.
72 P.S. § 8701-L et seq.
72 P.S. § 8801 et seq.
72 P.S. § 8801-B et seq.
72 P.S. § 8801-D et seq.
72 P.S. § 8801-E et seq.
72 P.S. § 8801-F et seq.
72 P.S. § 8801-G et seq.
72 P.S. § 8801-H et seq.
72 P.S. § 8901-A et seq.
72 P.S. § 8901-C et seq.
72 P.S. § 8901-E et seq.
72 P.S. § 9010.
24 P.S. § 20-2001-B et seq.
73 P.S. § 18200.101 et seq.
72 P.S. § 8701-A.1, PA ST 72 P.S. § 8701-A.1
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
| End of Document |