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§ 8704-J. Application and approval of tax credit

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: August 27, 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 XVII-J. Coal Refuse Energy and Reclamation Tax Credit (Refs & Annos)
Effective: August 27, 2019
72 P.S. § 8704-J
§ 8704-J. Application and approval of tax credit
Currentness
(a) Application.--The following shall apply:
(1) A qualified taxpayer may apply to the department for a tax credit under this section. The application shall be on the form required by the department.
(2) The application must be submitted to the department by February 1 of each year for the tax credit claimed for qualified coal refuse used at an eligible facility during the prior calendar year.
(b) Amount.--Except as otherwise provided under section 1707-J,1 a qualified taxpayer shall receive a tax credit equal to $4 multiplied by the tons of qualified coal refuse used to generate electricity at an eligible facility in this Commonwealth by a qualified taxpayer in the previous calendar year.
(c) Review and approval.--The following shall apply:
(1) The department shall review and approve applications meeting the requirements of this article by March 20 of each year.
(2) The department may require information necessary to document that a facility qualifies as an eligible facility and the amount of qualified coal refuse used to generate electricity at the eligible facility.
(3) In the review of applications for tax credits, the department shall consult with the Department of Environmental Protection with respect to whether a facility qualifies as an eligible facility and to review the eligible facility's calculation of the amount of qualified coal refuse used to generate electricity.
(3.1) Prior to approving an application, the applicant must have:
(i) filed all required State tax reports and returns for all applicable taxable years; and
(ii) paid any balance of State tax due as determined by assessment or determination by the Department of Revenue and not under timely appeal.
(4) Upon approval, the department shall issue a certificate stating the amount of tax credit granted for qualified coal refuse used in the prior calendar year.
(c.1) Netting of Federal tax credit.--If a Federal coal refuse reclamation tax credit program is adopted and becomes effective, the following shall apply:
(1) Each eligible facility shall report as part of its application under subsection (a) the Federal coal refuse reclamation tax credit amount received by the eligible facility for the four Federal tax quarters that immediately preceded the submittal of the application.
(2) The amount of tax credits received by an eligible facility as calculated under subsection (b) shall be reduced by the Federal coal refuse reclamation tax credit amount received by the eligible facility for the four Federal tax quarters that immediately preceded the submittal of the application under this section.
(d) Expiration.--The department may not approve an application for a tax credit under this article after December 31, 2036.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-J, § 1704-J, added 2016, July 13, P.L. 526, No. 84, § 33, imd. effective. Amended 2019, June 28, P.L. 50, No. 13, § 15, effective in 60 days [Aug. 27, 2019].

Footnotes

1
72 P.S. § 8707-J.
72 P.S. § 8704-J, PA ST 72 P.S. § 8704-J
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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