Senate Bill 792 Printer's Number 903

PENNSYLVANIA, June 6 - PRINTER'S NO. 903

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

792

Session of

2025

INTRODUCED BY FARRY, SANTARSIERO, HAYWOOD, HUGHES, COSTA,

PENNYCUICK AND PISCIOTTANO, JUNE 6, 2025

REFERRED TO INSTITUTIONAL SUSTAINABILITY AND INNOVATION,

JUNE 6, 2025

AN ACT

Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An

act relating to tax reform and State taxation by codifying

and enumerating certain subjects of taxation and imposing

taxes thereon; providing procedures for the payment,

collection, administration and enforcement thereof; providing

for tax credits in certain cases; conferring powers and

imposing duties upon the Department of Revenue, certain

employers, fiduciaries, individuals, persons, corporations

and other entities; prescribing crimes, offenses and

penalties," in research and development tax credit, further

providing for limitation on credits.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. Section 1709-B(a) of the act of March 4, 1971

(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended

to read:

Section 1709-B. Limitation on Credits.--(a) The total

amount of credits approved by the department shall not exceed

[sixty] one hundred twenty million dollars [($60,000,000)]

($120,000,000) in any fiscal year. Of that amount, [twelve]

twenty-four million dollars [($12,000,000)] ($24,000,000) shall

be allocated exclusively for small businesses. However, if the

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