Friday, April 26, 2019

Legislative Proposal Would Increase Coal Refuse Energy & Reclamation Tax Credit To $45 Million A Year

On April 26, Senators David Argall (R-Schuylkill) and John Yudichak (D-Luzerne) unveiled a legislative proposal to extend and increase the Coal Refuse Energy and Reclamation Tax Credit from $10 to $45 million per year.
"I grew up on the other side of that mountain, a few hundred yards north of some very large abandoned mining operations," said Sen. Argall said. "Senator Yudichak and I have a simple goal here today---to protect local jobs AND to continue the environmental progress which we have seen in the past few decades which is only possible through a public-private partnership.  To continue this progress, businesses like this one need to survive."
Specifically, this legislation will grant a 10-year extension of the Coal Refuse Energy and Reclamation Tax Credit from the current mandated year of 2026 to 2036. The legislation would also increase the maximum amount of tax credits to $45,000,000.
One of the provisions of the bill would also suspend the tax credit if a federal tax credit program is later adopted which would either equal or exceed the state program.
"Every day across northeastern Pennsylvania we see what a vital resource the PA Coal Refuse Energy and Reclamation Tax Credit is for plants like Panther Creek that are helping us clean up coal refuse piles, and restoring the land for economic, recreational, and conservation opportunities.  We need to enhance and extend the tax credit to ensure that these plants are able to operate to their fullest potential so that we can continue the economic revitalization that has been occurring as a result of their diligence in helping to restore these abandoned mine lands," said Sen. Yudichak.
A companion bill will be introduced in the House.
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