Bill Text: PA HB2164 | 2011-2012 | Regular Session | Introduced

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Bill Title: Providing for a natural gas fueling station tax credit.

Spectrum: Moderate Partisan Bill (Democrat 16-5)

Status: (Introduced - Dead) 2012-02-03 - Referred to FINANCE [HB2164 Detail]

Download: Pennsylvania-2011-HB2164-Introduced.html

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PRINTER'S NO. 3039
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2164 Session of2012
INTRODUCED BY P. COSTA, DeLUCA, READSHAW, SABATINA, BOYD, CALTAGIRONE, CARROLL, DALEY, FABRIZIO, GEIST, GOODMAN, KILLION, KULA, LONGIETTI, MAHONEY, MARSHALL, M. O'BRIEN, SAINATO, K. SMITH, STEPHENS AND YOUNGBLOOD, FEBRUARY 3, 2012
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 3, 2012
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," providing for a natural gas fueling station tax
credit.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
the Tax Reform Code of 1971, is amended by adding an article to
read:
ARTICLE XVIII-E
NATURAL GAS FUELING STATION
TAX CREDIT
Section 1801-E. Definitions.
The following words and phrases when used in this article
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Department." The Department of Revenue of the Commonwealth.
"Natural gas fueling station." A facility which dispenses
compressed natural gas or compressed natural gas and liquefied
natural gas to the public for vehicle refueling purposes and
does not include time-fill stations.
"Pass-through entity." Any of the following:
(1) A partnership, limited partnership, limited
liability company, business trust or other unincorporated
entity that for Federal income tax purposes is taxable as a
partnership.
(2) A Pennsylvania S corporation.
"Qualified tax liability." The liability for taxes imposed
under Article III, IV or VI. The term shall include the
liability for taxes imposed under Article III on an owner of a
pass-through entity.
"Tax credit." The natural gas fueling station tax credit
authorized under this article.
"Taxpayer." A business entity subject to tax under Article
III, IV or VI that pays compensation to individuals directly or
through a contractor or subcontractor to install natural gas
fueling station pumps on which compensation the tax imposed by
Article II will be paid or accrued.
Section 1802-E. Natural gas fueling station tax credit.
(a) Tax credit.-–A taxpayer shall be allowed a natural gas
fueling station tax credit against the taxpayer's qualified tax
liability in the amount of $1,000 per pump installed by the
taxpayer at a natural gas fueling station.
(b) Carryover.--If a taxpayer cannot use the entire amount
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of the credit for the taxable year in which the credit is first
claimed, the excess may be carried over to succeeding taxable
years and used as a credit against the qualified tax liability
of the taxpayer for those taxable years. Each time that the
credit is carried over to a succeeding year, it shall be reduced
by the amount that was used as a credit during the immediately
preceding taxable year.
(c) Application of credit.--The credit first shall be
applied against the taxpayer's qualified tax liability for the
taxable year in which the credit was approved before the credit
is applied against any succeeding tax liability under subsection
(b).
(d) Assignment, carryback and refund.--A taxpayer is not
entitled to assign, carry back or obtain a refund of an unused
tax credit.
Section 1803-E. Shareholder, owner or member pass-through.
(a) Shareholder.--If a Pennsylvania S corporation does not
have an eligible tax liability against which the tax credit may
be applied, a shareholder of the Pennsylvania S corporation is
entitled to a tax credit equal to the tax credit determined for
the Pennsylvania S corporation for the taxable year multiplied
by the percentage of the Pennsylvania S corporation's
distributive income to which the shareholder is entitled.
(b) Pass-through.--If a pass-through entity other than a
Pennsylvania S corporation does not have an eligible tax
liability against which the tax credit may be applied, an owner
or member of the pass-through entity is entitled to a tax credit
equal to the tax credit determined for the pass-through entity
for the taxable year multiplied by the percentage of the pass-
through entity's distributive income to which the owner or
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member is entitled.
(c) Additional credit.--The credit provided under subsection
(a) or (b) shall be in addition to any other tax credit to which
a shareholder, owner or member of a pass-through entity is
entitled under this article, except that a pass-through entity
and a shareholder, owner or member of a pass-through entity may
not claim a credit under this article for the same installation.
Section 1804-E. Regulations.
The department shall promulgate regulations necessary for the
implementation and administration of this article.
Section 2. The addition of Article XVIII-E of the act shall
apply to taxable years beginning after December 31, 2011.
Section 3. This act shall take effect in 60 days.
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