An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in historic preservation incentive tax credit, further providing for definitions.
Summary
SB117 amends the Tax Reform Code of 1971 in the section governing the historic preservation incentive tax credit. Based on the bill caption, the measure is narrowly focused on the definitions used in that tax credit program rather than creating a new credit or changing the overall structure of the tax code. The bill would update or clarify statutory definitions that determine who or what qualifies for the historic preservation incentive tax credit.
Because the bill text was not available in the provided materials, the precise definitional changes cannot be identified from the record here. However, the bill’s subject matter indicates it would affect how historic preservation projects, taxpayers, and potentially related entities are treated under Pennsylvania’s tax credit rules. Any change to definitions in this area could influence eligibility, administration, and interpretation of the credit by the Department of Revenue and applicants seeking tax benefits for preservation work.
Impact
SB117 would amend provisions of the Tax Reform Code of 1971 relating to the historic preservation incentive tax credit by revising definitions in that program. Its practical effect would be to alter the statutory criteria used to determine eligibility or administration of the credit, which could affect property owners, developers, preservation organizations, and tax credit applicants involved in qualifying rehabilitation or preservation projects. The bill was referred to the Senate Finance Committee on January 22, 2025, and no further action or vote history was provided.
Sentiment
There is no recorded committee transcript or vote history in the provided materials, so no direct evidence of support or opposition is available. The bill’s referral to the Finance Committee suggests it was treated as a technical or tax-administration measure at the committee stage. Overall sentiment cannot be reliably assessed from the available record, though the narrow focus on definitions typically indicates a targeted policy adjustment rather than a broad or controversial overhaul.
Contention
No specific points of contention are documented in the provided transcript or voting history. Potential areas of debate, if any, would likely center on how the revised definitions affect eligibility for the historic preservation incentive tax credit, whether the changes expand or narrow access to the credit, and how the Department of Revenue would administer the updated language. Without bill text or discussion records, it is not possible to identify which stakeholders, if any, raised concerns.