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Senate Finance Committee |
459 Main Capitol Building Harrisburg, PA 17120-3016 (717) 787-1349 |
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Senator Patrick M. Browne |
Stacey M. Connors, Esq. Executive Director sconnors@pasen.gov |
Finance Committee Meeting
June 2, 2008
12:00 p.m. in Room 461 Main Capitol
Please click on the bill to view the summary. This will open a PDF file in a new browser.
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Senate Bill 1385 (Corman): Expands the cap on the Net Operating Loss
provision of the Corporate Net Income Tax to $5 million or 20 percent of taxable
income. Senate Bill 1386 (Regola): Increases the eligibility limits for special tax forgiveness for low-income Pennsylvanians, increasing claimant eligibility limits by a total of $2,000 over three years and the dependent allowance by $500 over the same period. Senate Bill 1387 (Vance): Doubles the amount that small businesses may deduct as Section 179 expenses on their income tax filings. Section 179 of the federal Internal Revenue Code provides for the deduction of all or part of the costs of machinery and equipment used for business purposes. Senate Bill 1388 (Eichelberger): Amends the Corporate Net Income Tax to expand the sales factor to 85%. Senate Bill 1412 (Pippy): Amends the KOZ, KOEZ and KOIZ act to extend the duration of the tax free status of parcels that are unoccupied on the effective date for an additional seven years; allows the establishment of 7 new KOEZs in the Commonwealth to address specific projects; allows land to be swapped if land in a zone is unusable because of the discovery of an endangered species; bans payments in lieu of taxes ad other payments made in exchange for approval of the zone by a local government; eliminates the sales factor for CNI; and, exempts construction materials used in the zone from sales tax.
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Main District Office |
Harrisburg 459 Main Capitol Harrisburg 17120 717-787-1349 FAX: 717-772-3458 TTY: 800-364-1581 |
Western Lehigh County Upper Macungie Township Building 8330 Schantz Road Breinigsville 18031 610-366-2327 FAX: 610-366-2329 |
Monroe PO Box 16 Saylorsburg 18353 (Located at intersection of Old Route 115 and Route 209) 570-402-1499 FAX: 570-402-0746 Mon, Tue, Thurs, Fri 8 AM to 4 PM Saturday 7 AM to 1 PM Evening Hours by Appointment |
East Allentown Lehigh Valley Career Link Building 1601 Union Boulevard Allentown 18109 610-821-6813 FAX: 610-841-1137 Monday-Tuesday 9 AM to 4 PM |
East Allen Township
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