Technology (Small Business)

SB 792 sets annual limits on Pennsylvania's research and development (R&D) tax credit program. It caps total annual credits at $120 million, with $24 million specifically reserved for small businesses. Unused portions of either the small business allocation or the general allocation can roll over to the other group if not fully claimed in a given year. This bill directly affects businesses claiming R&D tax credits in Pennsylvania, particularly small businesses that receive priority funding. The change modifies the existing tax credit structure under the 1971 Tax Reform Code.

SB 811 establishes Pennsylvania's SBIR/STTR Matching Funds Program to support small businesses with federal research grants. It provides state matching funds (up to $50,000) to Pennsylvania-based businesses that receive Phase I awards under the federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs. To qualify, businesses must conduct at least 51% of their Phase II research in Pennsylvania, submit a Phase I report, and avoid duplicate state funding. The program aims to foster economic growth by helping small businesses advance federal-funded research projects.