PA HB500

Creates a Reliable Energy Investment Tax Credit offering $300,000 per megawatt of clean energy output (up to $100,000,000 per project) for new or expanded electric generating facilities and energy storage facilities that emit less than 100 pounds of CO2 equivalent per megawatt-hour, with applications accepted from January 1, 2026 through December 31, 2036

Establishes a Pennsylvania Milk Processing Tax Credit of $2.30 per hundred weight of milk purchased from Pennsylvania sources, with an additional $1.15 per hundred weight for organic dairy products, capped at $15,000,000 annually and $120,000,000 total

Revises the Clean Hydrogen Hub Tax Credit to expand eligibility beyond Regional Clean Hydrogen Hubs, reduces minimum capital investment from $500,000,000 to $100,000,000 and minimum jobs from 1,200 to 200, and allocates $49,000,000 annually across seven regionally diverse qualified taxpayers

Creates a Geothermal Energy Tax Credit of 30% of capital investment (up to $5,000,000) for facilities on eligible sites including brownfields, environmental justice areas, and land bank properties, with $40,000,000 available annually

Establishes a Sustainable Aviation Fuel Tax Credit of 75 cents per gallon for fuel meeting ASTM standards and not derived from petroleum or palm fatty acid distillates, with up to $15,000,000 annually available from unallocated Regional Clean Hydrogen Hub funds