Section 8736-D - Limitations.(a) Cap.--The aggregate amount of tax credits awarded in any fiscal year under this subarticle may not exceed $4,000,000. The department may, in the department's discretion, award in one fiscal year up to 50% of the dollar amount of tax credits available to be awarded in the next succeeding fiscal year.(b)Advance award of credits.-- (1) The advance award of tax credits under subsection (a) shall:(i) count against the total dollar amount of tax credits that the department may award in that next succeeding fiscal year; and(ii) reduce the dollar amount of tax credits that the department may award in that next succeeding fiscal year.(2) The individual limitations under subsection (c) on the awarding of tax credits apply to an advance award of tax credits under subsection (a) and to a combination of tax credits awarded against the current fiscal year's cap and against the next succeeding fiscal year's cap.(c) Individual limitations.--The following shall apply:(1) A taxpayer may not be awarded more than $800,000 of tax credits for a tour.(2) Except as provided under paragraph (5), the aggregate amount of tax credits awarded by the department under section 1732-D(d) to a taxpayer for a tour with concerts at two class 1 venues or a class 1 venue and a class 2 venue may not exceed 25% of the qualified rehearsal and tour expenses incurred or to be incurred.(3) Except as provided under paragraph (5), the aggregate amount of tax credits awarded by the department under section 1732-D(d) to a taxpayer for a tour with concerts at a class 1 venue and a class 3 venue may not exceed 30% of the qualified rehearsal and tour expenses incurred or to be incurred.(4) Except as provided under paragraph (5), the aggregate amount of tax credits awarded by the department under section 1732-D(d) to a taxpayer for a tour with concerts at a class 1 venue and a class 3 venue which does not serve alcohol may not exceed 35% of the qualified rehearsal and tour expenses incurred or to be incurred.(5) In addition to the tax credits under paragraph (2), (3) or (4), a taxpayer is eligible for a tax credit in the amount of 5% of the qualified rehearsal and tour expenses incurred or to be incurred by the taxpayer if the taxpayer holds concerts at a total of two or more class 2 venues or class 3 venues.(d)Qualified rehearsal facility.--To be considered a qualified rehearsal facility under this subarticle, the owner of a rehearsal facility shall provide evidence to the department to verify the development or facility specifications and capital improvement costs incurred for the rehearsal facility so that the threshold amounts set in the definition of "qualified rehearsal facility" under section 1731-D are satisfied, and upon verification, the rehearsal facility shall be registered by the department officially as a qualified rehearsal facility.(e) Waiver.--The department may make a determination that the financial benefit to this Commonwealth resulting from the direct investment in or payments made to Pennsylvania rehearsal and concert facilities outweighs the benefit of maintaining the 60% Pennsylvania rehearsal expenses requirement contained in the definition of qualified rehearsal and tour expense. If such determination is made, the department may waive the requirement that 60% of a tour's aggregate rehearsal expenses be comprised of Pennsylvania rehearsal expenses.Added by P.L. TBD 2016 No. 84, § 30, eff. 7/13/2016.