Growing our state requires energy. One of our priorities identified by our advocates to modernize all faucets of our infrastructure is to expand access to low-cost energy for residents and businesses across our state.
Recently, House leadership introduced Energize PA, a pro-growth, pro-jobs legislative package that will create jobs and connect residents and businesses to our abundant natural resources.
Below is a summary of the bills included in the Energize PA package and how they will Grow PA.
House Bill 1100: The bill would advance Pennsylvania’s petrochemical manufacturing industry, the single largest contributor to national GDP growth (~$25-40 billion), with significant job growth (~11,000 – 16,000), by expanding the resource manufacturing tax credit program to include methane.
House Bill 1101: The bill would strengthen our state’s competitiveness by increasing the percentage rate cap for net operating loss deductions to 45% in taxable year 2020 and 50% in taxable year 2021. The use of carrying forward net operating losses is vital to the success of capital-intensive industries, in particular manufacturers who must invest significantly in the early years of the firm’s operation.
House Bill 1102: The bill would establish a Keystone Energy Authority and Keystone Energy Enhancement Zones to proactively invest in site development targeted to the needs of petrochemical manufacturers.
House Bill 1103: The bill would enable more Pennsylvanians the benefit of our low-cost energy by expanding the Pipeline Investment Program (PIPE) to include large residential conversion use and CHP projects.
House Bill 1104: The bill would support state business attraction efforts by establishing a registry for abandon manufacturing sites in the Commonwealth.
House Bill 1105: The bill would incentivize downstream development by streamlining permitting for remediating Commonwealth lands.
House Bill 1106: The bill would streamline and expedite environmental permitting processes for business for which Pennsylvania currently ranks 35th in the nation.
House Bill 1107: The bill would streamline permitting for projects by establishing a Pennsylvania Permitting Commission.