Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania SB1487: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit.
Status: In committee, October 14, 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; prescribing crimes, offenses and penalties," in neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit.
From the introduced text, October 14, 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 neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. Sections 1904-A(c) and 1905-A(a) of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, are amended to read: Section 1904-A. Tax Credit.--* * * (c) The total amount of tax credit granted for programs approved under this act shall not exceed [seventy-two million dollars ($72,000,000)] one hundred eight million dollars ($108,000,000) of tax credit in any fiscal year. * * * Section 1905-A. Grant of Tax Credit.--(a) The Department of Revenue shall grant a tax credit against any tax due under Article III, IV, VI, VII, VIII, IX or XV of this act, or any tax substituted in lieu thereof in an amount which shall not exceed sixty-five per cent of the total amount contributed during the taxable year by a …