Pennsylvania SB949 exempts Pennsylvania steel products from sales and use tax and creates a tax credit for steel manufacturing facility improvements.

Pennsylvania SB949 amends the Tax Reform Code of 1971 to exempt sales and use tax on Pennsylvania steel products. It also establishes a tax credit for companies investing in facility improvements for steel manufacturing. Eligible companies must invest at least $50 million and create at least 100 jobs. The tax credit can be up to 3% of the investment amount, with an additional credit for advanced manufacturing technology. Companies can sell or assign the tax credit, but not resell it. The tax credit cannot be carried back, carried forward, or used for refunds.

Pennsylvania SB949 exempts Pennsylvania steel products from sales and use tax and creates a tax credit for steel manufacturing facility improvements.

Pennsylvania SB949 amends the Tax Reform Code of 1971 to exempt sales and use tax on Pennsylvania steel products. It also establishes a tax credit for companies investing in facility improvements for steel manufacturing. Eligible companies must invest at least $50 million and create at least 100 jobs. The tax credit can be up to 3% of the investment amount, with an additional credit for advanced manufacturing technology. Companies can sell or assign the tax credit, but not resell it. The tax credit cannot be carried back, carried forward, or used for refunds.