Senate Finance Committee Approves Three Bills

The Senate Finance Committee approved three bills today (Tuesday, May 25), according to Committee Chairman Senator Scott Hutchinson (R-21).

Senate Bill 288, introduced by Senator Bob Mensch (R-24), expands the 21st Century Manufacturing Innovation and Reinvestment Deduction Act.

Senate Bill 681, introduced by Senator John Yudichak, provides for two, one-year carry forward for tax credits purchases in 2020 and 2021. This means that tax credits purchased in 2020 could be used for 2020 or 2021, and tax credits purchased in 2021 could be used for 2021 or 2022.

Senate Bill 682, also introduced by Senator Yudichak, extends the eligibility timeline for the Keystone Innovation Zone credit program from eight years to 10 years.

The bills now go to the full Senate for consideration.

Click here for video of the meeting.

 

Contact:          Nathan Akers                          nakers@pasen.gov