Pennsylvania SB117 amends the definition of "qualified taxpayer" for historic preservation incentive tax credits.
Pennsylvania SB117 amends the Tax Reform Code of 1971 to redefine "qualified taxpayer" for historic preservation incentive tax credits. The bill specifies that a qualified taxpayer is any entity subject to certain state taxes and owning a qualified historic structure. This includes entities exempt from federal income tax under 26 U.S.C. § 501(c)(3). The act will take effect 60 days after enactment.
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