An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in tax credit and tax benefit administration, further providing for definitions; providing for Internship Tax Credit Program; and promulgating regulations.

This Pennsylvania bill creates a new Internship Tax Credit Program designed to help small businesses hire students from local colleges and universities. Under the program, eligible businesses that employ qualified interns in structured, paid work experiences can receive a tax credit to offset their state taxes. To qualify, interns must be residents of Pennsylvania with at least 30 college credits and a 2.5 GPA, while internships must last a minimum of six weeks and pay at least minimum wage. The bill also establishes a waiting list system for businesses that apply for the credit but do not receive it due to limited funding.