Senate Finance Committee Approves Four Bills

The Senate Finance Committee approved four bills today (June 14), according to Committee Chairman Senator Scott Hutchinson (R-21).

Senate Bill 347, relating to like-kind exchanges and introduced by Senator John DiSanto (R-15), would mirror Pennsylvania law to federal, removing a disadvantage Pennsylvania small businesses face when competing with those in other states.

Senate Bill 447, introduced by Senator Michele Brooks (R-50), would reduce the Corporate Net Income Tax by 0.5 percent every year over a period of six years until it reaches 6.99 percent.

Senate Bill 586, introduced by Senator David Argall (R-29) addresses eligibility for the Historic Preservation Tax Credit Program.

House Bill 952, introduced by Representative Donna Oberlander (R-63), converts the current Computer Data Center Equipment Incentive Program from a Sales and Use Tax refund program to a Sales and Use Tax exemption.

The bills now go to the full Senate for consideration.

Click for audio and video of the meeting.

Contact:          Nathan Akers              nakers@pasen.gov