Pennsylvania SB440 amends tax credits for semiconductor and biomedical manufacturing and research.
Pennsylvania SB440 amends the definitions and eligibility criteria for tax credits under the Pennsylvania Economic Development for a Growing Economy (PA EDGE) program. It specifies that semiconductor manufacturing includes the creation of advanced processes or technology. Companies must meet certain criteria to be eligible for tax credits, such as making a capital investment and creating jobs. The bill also outlines the application process and the amount of tax credits available. The act will take effect in 60 days.
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