HB 500: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in Pennsylvania Economic Development for a Growing Economy (PA EDGE) Tax Credits, repealing provisions relating to local resource manufacturing, providing for Reliable Energy Investment Tax Credit, repealing provisions relating to Pennsylvania milk processing and providing for Pennsylvania milk processing; in regional clean hydrogen hubs, further providing for definitions, for eligibility, for application and approval of tax credit, for use of tax credits and for applicability; in semiconductor manufacturing and biomedical manufacturing and research, further providing for definitions and for application and approval of tax credit and providing for geothermal energy and for sustainable aviation fuel; and, in application of Prevailing Wage Act, further providing for definitions.
Topics
✓ Budget & TaxesSupports Budget & TaxesCreates new tax credits for clean energy, semiconductor, and biomedical sectors, directly incentivizing economic development through targeted tax incentives under budget/fiscal policy.
✓ EnergySupports EnergyRepeals petrochemical/fertilizer tax credits while creating new tax credits for clean hydrogen, geothermal, sustainable aviation fuel, and renewable energy infrastructure.
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Rep's Stance
✓ Voted Yes
✓ Supports Energy