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PA SB792

Bill

Official Source

Status

Introduced

6/6/2025

Primary Sponsor

Frank Farry

Click for details

Origin

Senate

2025-2026 Regular Session

AI Summary

  • Doubles the annual cap on Pennsylvania's Research and Development Tax Credit from $60 million to $120 million per fiscal year

  • Increases the small business allocation from $12 million to $24 million annually

  • Unused funds from either the small business or general applicant pool may transfer to the other group of qualifying taxpayers within the same fiscal year

  • Amends Section 1709-B of the Tax Reform Code of 1971

  • Takes effect 60 days after enactment

Legislative Description

In research and development tax credit, further providing for limitation on credits.

Last Action

Referred to Institutional Sustainability & Innovation

6/6/2025

Committee Referrals

Institutional Sustainability and Innovation6/6/2025

Full Bill Text

No bill text available