Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania HB2685: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in tax credit and tax benefit administration, further providing for definitions and providing for tax credits relating to economic development.
Status: In committee, June 30, 2026
What the bill says
An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities…
From the introduced text, June 30, 2026:
An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in tax credit and tax benefit administration, further providing for definitions and providing for tax credits relating to economic development. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. Section 1701-A.1 of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, is amended by adding a definition to read: Section 1701-A.1. Definitions. The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise: * * * "E conomic development tax credit." A tax credit established for the purpose of long-term, strategic planning to improve a community's financial well-being and quality of life, with a primary focus on any of the following: (1) Business creation, attraction, retention or expansion. (2) Economic growth. (3) Expanding the community's local tax base to fund public services, including schools, roads and parks. (4) Improving infrastructure to …