Pennsylvania HB1556 establishes tax credits for advanced clean manufacturing projects.
Pennsylvania HB1556 amends the Tax Reform Code of 1971 to create a tax credit program for advanced clean manufacturing projects. These projects involve the production of clean steel, clean aluminum, clean cement, clean glass, electric grid modernization equipment, energy-efficient heat pumps, energy-efficient turbines, or hydrogen electrolyzers. The credit is equal to 30% of qualified production costs, up to a maximum of $10,000,000 per taxable year. The program includes criteria for certification, a deadline for certification, and provisions for carry forward and recapture of unused credits.
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- Overview
- Core Provisions
- Implementation
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- Legal Framework
- Critical Issues
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