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§ 8825-G. Requirements

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. § 8825-G
§ 8825-G. Requirements
Currentness
(a) Collections.--Upon receiving approval under section 1824-G,1 a rural growth fund must do all of the following within 60 days:
(1) Collect the credit-eligible capital contributions from each business firm issued a tax credit certificate under section 1829-G.2
(2) Collect one or more investments of cash that, when added to the contributions collected under paragraph (1), equal the rural growth fund's investment authority. At least 10% of the rural growth fund's investment authority shall be comprised of equity investments contributed, directly or indirectly, by affiliates of the rural growth fund, including employees, officers and directors of the affiliates.
(b) Documentation.--Within 65 days of approval under section 1824-G, a rural growth fund must provide to the department documentation sufficient to prove that the amounts specified in subsection (a) have been collected.

Credits

1971, March 4, P.L. 6, No. 2, art. XVIII-G, § 1825-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. § 8824-G.
2
72 P.S. § 8829-G.
72 P.S. § 8825-G, PA ST 72 P.S. § 8825-G
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document