June 23, 2026 · FINANCE · 1,019 words · 15 speakers · 21 segments
Good morning. I'd like to call this Senate Finance Committee meeting to order. Justin, please call the roll.
Coleman.
Proxy.
Fontana.
Here.
Haywood.
Here.
Kiefer.
Here.
Loffin.
Proxy.
Muth.
Proxy.
Pennycook. Proxy. Piscotano. Proxy. Rothman. Here. Ward. Here. Hutchinson.
Here. According to being established, I'd like to move on to consideration of our agenda. for today. We have one bill on the agenda, House Bill 1167, sponsored by Representative Paul Taycac. This bill amends the Tax Reform Code to make technical changes to the Rural Jobs Investment Tax Credit Program. These technical changes are necessary to implement the reauthorization that we did in 2024, which also included an extension of time. So Representative Taycac is with us today. I'd like to open the floor to you to give comments and answer questions on your bill. Thank you for coming, Representative Taycac.
Thank you, Chairman. Thank you, all the members of the Senate Finance Committee. I appreciate you bringing this legislation forward for consideration and the opportunity to say a few words, especially on this side of the building. House Bill 1167 is small, but it's mighty. If approved, it'll help unlock $50 million in capital investment through the Rural Jobs Investment Tax Credit, or RJITC, program. This is a proven and powerful example of a public-private partnership that rewards successful job creation by helping attract private investments in our rural businesses and communities It clarifies and corrects language that has thus far prevented the Department of Community and Economic Development from implementing round two of this RJITC funding which the General Assembly already reauthorized as part of the 24 budget It not only restores the legislature's intent, but improves transparency and program delivery. As I said, the legislation will free up $50 million that is ready and waiting to help rural businesses expand and create jobs where they're needed most, ensuring that more Pennsylvania businesses can access capital, keep people working, and strengthen our economy. In my own district, several businesses have already benefited from these investments, including a small startup that produces an innovative fertilizer and nutrient delivery system, as well as an established developer and manufacturer of medical supplies. And we're hopeful that with this next round of funding, we may also help a small specialty brick manufacturer nearly double its workforce and potentially help a small custom wood manufacturer recover from a devastating fire. It's these kind of investments that can and do make a tremendous difference in our rural communities. The bill passed the House last year with very strong bipartisan support by a vote of 182 to 21. And I thank you again for your time, and I respectfully ask for an affirmative vote to help advance this important legislation.
Thank you, sir. Thank you, Representative Taycac. Before we move to the bill, I do have an amendment, Amendment A-03769 to House Bill 1667. and I will now make the motion to consider that amendment. This amendment is also, as the bill is, it's a technical change that removes outdated language and clarifies the deadlines for applications for credit capital contributions made in phases one and two of this program So I will move the amendment second by Senator Rothman Any discussion on the amendment to A03769 to House Bill 1667? Seeing no questions or discussion, any negative votes on amendment A03769? Proxy, Senator Muth is a no. Any other negative votes on the amendment? Seeing none, Senator Muth will be recorded in the negative, and the amendment is adopted. Now to House Bill 1667 as amended. Is there a motion? I will move to report the bill. Do we have a second? Senator Rothman. any further discussion or questions on the bill as amended
Senator Haywood thank you so much so I have been someone who's very concerned about the efficacy of some of these tax credits my time in the Senate we've passed a lot of tax credit pieces of legislation as intended remedy for so many different challenges that we face. And I received a number of reports about Pennsylvania having too many tax credits. So I'm in favor. I'm going to vote for this legislation. But I am generally concerned about the tax credit strategy as an effective means to create economic development, as well as the impact on our general revenue when we provide a number of tax credits that then has a consequence of us not having revenue to provide basic services like health care and housing to folks That's not for you to solve, but I do just want to share my general challenge with this kind of legislation.
Senator, if I might respond. One of the nice things about this program is it actually does not allow you to take the tax credit unless the job is actually created. So that is a huge benefit in some of these communities because, you know, we employ someone, they can contribute back to the community as well as the commonwealth. So there is a failsafe in there that it does need to be a successful job creation.
Thank you very much for that response. And I will add that technically we did reauthorize this to be used. This legislation itself is not creating it. There was a successful first round. Then in 2024, a second round was reauthorized because the first was successful. But this just clarifies the language in what we did in 2024 to make it so that they can distribute the funds. So this really is a technical in nature just to allow the department to implement something that's already in place legislatively.
So thank you for your remarks, Senator Haywood. Having moved and seconded that House Bill 1667 be reported as amended, do we have any negative votes on that? Senator Mooth, proxy no. Any negative votes? Any other negative votes? Seeing none, hearing none. Senator Moose's vote will be recorded as a negative, and the bill as amended will be reported to the full Senate. Thank you, everyone. This concludes our agenda. I now recess to the call of the chair. Thank you.