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§ 8716.1-D. Reissuance of film production tax credits

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 8, 2022

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-D. Entertainment Production Tax Credit (Refs & Annos)
Subarticle B. Film Production (Refs & Annos)
Effective: July 8, 2022
72 P.S. § 8716.1-D
§ 8716.1-D. Reissuance of film production tax credits
Currentness
(a) Reissuance.--In any fiscal year, the department may reissue a tax credit which meets all of the following:
(1) The tax credit was approved under section 1712-D(b).1
(2) The contract was signed under section 1712-D(c).
(3) The tax credit was awarded and a certificate was issued under section 1712-D(d).
<Section 24(4)(viii) of Act 2022, July 8, P.L. 513, No. 53, provides that the amendment of subsec. (a)(4) of this section by that Act shall apply to fiscal years beginning after June 30, 2022.>
(4) If an individual film that was issued a tax credit as part of a multifilm production application is canceled, the department may reissue that tax credit only after allowing the taxpayer or the taxpayer's affiliate 90 days to submit an application for an alternative individual film, produced by the taxpayer or the taxpayer's affiliate for that tax credit. The department may approve or reject the application.
(b) Amount.--The amount of a tax credit to be reissued shall be calculated as the difference between the amounts in subsection (a)(1) and (3).
(c) Applicability.--This section shall apply to a tax credit awarded under this article in any fiscal year beginning after June 30, 2017.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-D, § 1716.1-D, added 2016, July 13, P.L. 526, No. 84, § 28.1, imd. effective. Amended 2021, June 30, P.L. 124, No. 25, § 16, effective in 30 days [July 30, 2021]; 2022, July 8, P.L. 513, No. 53, § 11, imd. effective.

Footnotes

1
72 P.S. § 8712-D.
72 P.S. § 8716.1-D, PA ST 72 P.S. § 8716.1-D
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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