72 Pa. Stat. § 8707-G

Current through Pa Acts 2024-53, 2024-56 through 2024-92

Section 8707-G - Purchasers and assignees

(a) Time.--The purchaser or assignee under section 1706-G must claim the tax credit in the calendar year in which the purchase or assignment is made.

(b) Amount.--The amount of the tax credit that a purchaser or assignee under section 1706-G may use against any one qualified tax liability may not exceed 50% of any of the qualified tax liabilities for the taxable year.

(c) Resale and reassignment.--

(1) A purchaser under section 1706-G may not sell or assign the purchased tax credit.

(2) An assignee under section 1706-G may not sell or assign the assigned tax credit.

(d) Notice.--The purchaser or assignee under section 1706-G shall notify the department of the seller or assignor of the tax credit in compliance with procedures specified by the department.

72 P.S. § 8707-G

Added by P.L. 751 2012 No. 85, § 19, eff. 7/2/2012.