Pennsylvania SB1175 amends the Tax Reform Code to enhance the Innovate in PA Tax Credit program, setting revenue thresholds for tax credit sales and.

Pennsylvania SB1175 amends the Tax Reform Code to revise the Innovate in PA Tax Credit program. It establishes revenue thresholds for selling tax credits, prohibiting sales if the bidding process does not yield at least $40 million or $200 million, depending on the type of credit. The bill also modifies the distribution of net proceeds from tax credit sales, allocating funds to various entities for commercial lab space, research facilities, recruitment initiatives, and educational programs.

Pennsylvania SB1175 amends the Tax Reform Code to enhance the Innovate in PA Tax Credit program, setting revenue thresholds for tax credit sales and.

Pennsylvania SB1175 amends the Tax Reform Code to revise the Innovate in PA Tax Credit program. It establishes revenue thresholds for selling tax credits, prohibiting sales if the bidding process does not yield at least $40 million or $200 million, depending on the type of credit. The bill also modifies the distribution of net proceeds from tax credit sales, allocating funds to various entities for commercial lab space, research facilities, recruitment initiatives, and educational programs.