Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 1649.708 - Reporting(a) General rule.--No later than September 1 of each year, the department, in consultation with the Department of Revenue, shall submit a report to the General Assembly summarizing the effectiveness of the tax credit provided under this chapter. The report shall include the name of each taxpayer utilizing the credit as of the date of the report and the amount of credits approved for or utilized by each taxpayer. The report may also include recommendation for changes in the calculation or administration of the tax credit. The report shall be submitted to the chairman and minority chairman of the Appropriations Committee of the Senate, the chairman and minority chairman of the Finance Committee of the Senate, the chairman and minority chairman of the Appropriations Committee of the House of Representatives and the chairman and minority chairman of the Finance Committee of the House of Representatives. The report shall include the following information, which shall be separated by geographic location within this Commonwealth: (1) The amount of credits claimed during the fiscal year.(2) The number of alternative energy production projects receiving a tax credit and the dollar amount of tax credits granted under this chapter in the aggregate and by project.(3) The types, locations and costs of projects.(4) The total amount spent in this Commonwealth during the fiscal year by each alternative energy production project.(5) The estimated benefits of the projects in creating alternative energy.(6) The total amount of tax revenues generated in this Commonwealth from alternative energy production projects.(7) The total number of jobs created during the fiscal year by alternative energy production projects.(b) Public information.--Notwithstanding any law providing for confidentiality of tax records, the following shall be public information: (1) Information in the report under subsection (a) which shall be posted on the Internet websites of the Department of Revenue and the department.(2) The identity of each taxpayer utilizing a tax credit under this chapter and the amount of credits approved and utilized by each taxpayer which shall be made available annually, beginning no later than one year after the credits were granted. 2008, July 9, P.L. 1873, No. 1 (Spec. Sess. No. 1), § 708, imd. effective.