Pennsylvania 2023-2024 Regular Session

Pennsylvania Senate Bill SB615

Introduced
4/24/23  

Caption

Providing for National Guard service tax credit.

Impact

If enacted, SB615 would provide direct financial support to qualifying National Guard members, which could enhance their economic stability. Eligibility for the $500 tax credit requires members to have at least two years of service, thus promoting long-term commitment to military service among state residents. This amendment to the tax code could serve as a model for other states seeking to support their military personnel, potentially instigating similar legislative initiatives nationwide.

Summary

Senate Bill 615, introduced in Pennsylvania, proposes to amend the existing Tax Reform Code by instituting a tax credit specifically for members of the Pennsylvania National Guard. This bill is aimed at recognizing and financially supporting the service of National Guard members who serve their state and country. The introduction of a tax credit of up to $500 is intended to alleviate some financial burdens for these individuals, making it more beneficial for them to actively fulfill their military duties while managing personal responsibilities.

Sentiment

The sentiment surrounding SB615 appears to be generally positive among legislators and advocacy groups who advocate for veteran affairs. Supporters argue that this type of tax credit acknowledges the sacrifices made by service members and contributes to greater overall morale. Conversely, some critics may question the financial implications of the tax credit on state revenue and argue for a more comprehensive approach to veteran support rather than piecemeal solutions like tax credits.

Contention

The primary points of contention related to SB615 concern the sustainability and adequacy of the proposed $500 tax credit. While supporters consider this an important step towards supporting military personnel, detractors might insist that it does not address broader systemic issues faced by veterans and active-duty service members. Additionally, the bill's potential impact on state tax revenues and the administrative burdens associated with implementing the credit are concerns that could arise during discussions among stakeholders and policymakers.

Companion Bills

No companion bills found.

Previously Filed As

PA SB821

Providing for National Guard service tax credit.

PA SB985

Providing for the Pennsylvania National Guard employer tax credit.

PA SB401

In tax credit and tax benefit administration, further providing for definitions; and providing for the Pennsylvania National Guard employer tax credit.

PA HB2452

In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; and providing for personal health investment tax credit.

PA SB148

Providing for volunteer firefighter tax credit.

PA SB655

In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; in tax credit and tax benefit administration, further providing for definitions; and providing for personal health investment tax credit.

PA SB1106

In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; and providing for personal health investment tax credit.

PA HB1126

In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; and providing for personal health investment tax credit.

PA SB334

In research and development tax credit, further providing for limitation on credits; and providing for Angel Investment Tax Credit.

PA HB1219

In personal income tax, further providing for classes of income and for special tax provisions for poverty and providing for alternative special tax provisions for poverty; in corporate net income tax, further providing for definitions, for imposition of tax, for reports and payment of tax, for consolidated reports and for manufacturing innovation and reinvestment deduction; in realty transfer tax, further providing for transfer of tax; in tax credit and tax benefit administration, further providing for definitions; in entertainment production tax credit, further providing for definitions, for credit for qualified film production expenses, for carryover, carryback and assignment of credit and for limitations; in Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits, providing for biotechnology; in neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit; providing for expanded neighborhood improvement zones; in Pennsylvania Child and Dependent Care Enhancement Tax Credit Program, further providing for credit for child and dependent care employment-related expenses; providing for Public Transportation Trust Fund; and, in general provisions, further providing for underpayment of estimated tax, for method of filing and for allocation of tax credits.

Similar Bills

No similar bills found.