Pennsylvania HB 2507: An Act providing for loan deferrals, repayment plans and loan modifications by certain financial institutions for nonprofits during the COVID-19 disaster emergency.

Bill Text

PRINTER'S NO. 3393
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2507
Session of
2026
INTRODUCED BY BERNSTINE, MAY 11, 2026
REFERRED TO COMMITTEE ON FINANCE, MAY 11, 2026
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," in tax credit and tax benefit administration,
further providing for definitions; providing for Internship
Tax Credit Program; and promulgating regulations.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The definition of "tax credit" in section 1701-
A.1 of the act of March 4, 1971 (P.L.6, No.2), known as the Tax
Reform Code of 1971, is amended by adding a paragraph to read:
Section 1701-A.1. 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:
* * *
"Tax credit." A tax credit authorized under any of the
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following:
* * *
(16.2) Article XIX-L.
* * *
Section 2. The act is amended by adding an article to read:
ARTICLE XIX-L
INTERNSHIP TAX CREDIT PROGRAM
Section 1901-L. Scope of article.
This article relates to the Internship Tax Credit Program.
Section 1902-L. 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:
"Applicable taxes." Any of the taxes due under Article III,
IV, VI, VII, VIII, IX or XV or a tax under Article XVI of the
act of May 17, 1921 (P.L.682, No.284), known as The Insurance
Company Law of 1921.
"Business firm." An entity authorized to do business in this
Commonwealth and subject to taxes imposed under Article III, IV,
VI, VII, VIII, IX or XV.
"Department." The Department of Revenue of the Commonwealth.
"Institution of higher education." Any of the following:
(1) A community college operating under Article XIX-A of
the act of March 10, 1949 (P.L.30, No.14), known as the
Public School Code of 1949.
(2) A rural regional college established under Article
XIX-G of the Public School Code of 1949.
(3) A university within the State System of Higher
Education under Article XX-A of the Public School Code of
1949.
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(4) A State-related institution as defined in section
2001-C of the Public School Code of 1949.
(5) The Thaddeus Stevens College of Technology.
(6) An accredited private or independent college or
university.
(7) A private licensed school as defined in section 2 of
the act of December 15, 1986 (P.L.1585, No.174), known as the
Private Licensed Schools Act.
"Qualified business." A business that:
(1) operates primarily in this Commonwealth;
(2) has been continuously operating for at least three
years; and
(3) is a small business as defined in section 1702-B.
"Qualified intern." An individual who:
(1) has completed at least 30 credit hours at an
institution of higher education;
(2) is a resident of this Commonwealth; and
(3) has a minimum of a 2.5 grade point average on a 4.0
scale.
"Qualified internship." A structured program that:
(1) provides work experience or school credit for
students in their desired field;
(2) pays at least minimum wage; and
(3) is at least six weeks in length at an average of 20
hours per week.
Section 1903-L. Internship Tax Credit.
(a) Credit.--For taxable years beginning after December 31,
2026, a qualified business may claim the internship tax credit
in the taxable year in which the business employed a qualified
intern for a qualified internship and may apply the tax credit
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against the qualified business's applicable taxes.
(b) Application.-- A qualified business applying to claim an
internship tax credit must complete and submit to the department
an internship tax credit application on a form and in a manner
as determined by the department. The form shall require the
qualified business to provide the following:
(1) The names and student identification numbers or the
last four digits of the Social Security numbers of all
qualified interns for which the business is claiming the tax
credit.
(2) Proof that an employee is a qualified intern, which
may be verified through providing a transcript or enrollment
verification letter along with a grade point average from an
institution of higher education in this Commonwealth.
(3)