Summary of Tax Credit ReviewsNew IFO report highlights findings from the 20 tax credit reviews published during the first five-year evaluation cycle (2019 to 2023). Tags: credit, review, summary, tax |
NAP, REAP, EEEP, VGP and KSDZ Tax Credit ReviewsIFO presentation of the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credit Reviews. Tags: credit, eeep, ksdz, nap, reap, review, tax, vgp |
Film, Historic Preservation and New Jobs Tax Credit ReviewsIFO presentation of the Film Production, Historic Preservation and New Jobs Tax Credit Reviews. Tags: credit, film, historic, jobs, preservation, review, tax |
Summary of Tax Credit reviewsNew IFO report highlights findings from the 20 tax credit reviews published during the first five-year evaluation cycle (2019 to 2023). 10/10/2023 |
Budget Impact of 2023 Wage ContractsThis research brief provides a preliminary estimate of the budget impact if the terms of the newly ratified AFSCME collective bargaining agreement (CBA) apply to all CBAs reviewed by the IFO, as well as management and non-represented workers. 08/14/2023 |
2023 Tax Credit reviewsIFO presentation of the Manufacturing, Pennsylvania Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credit reviews. 01/10/2023 |
Resource Manufacturing Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fifth year, the IFO reviewed the Manufacturing, Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. Click on the link to access the Resource Manufacturing Tax Credit Report. 01/05/2023 |
Manufacturing Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fifth year, the IFO reviewed the Manufacturing, Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. Click on the link to access the Manufacturing Tax Credit Report. 01/05/2023 |
Executive OfficesAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Executive Offices. Approved by the PBB Board on January 11, 2023. 01/05/2023 |
Pennsylvania Insurance DepartmentAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Pennsylvania Insurance Department. Approved by the PBB Board on January 11, 2023. The report was reposted on January 18, 2023 to correct a single year of data on page 14. 01/05/2023 |
Department of RevenueAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Revenue. Approved by the PBB Board on January 10, 2023. 01/05/2023 |
Department of Drug and Alcohol ProgramsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Drug and Alcohol. Approved by the PBB Board on January 9, 2023. 01/05/2023 |
Department of Conservation and Natural ResourcesAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Conservation and Natural Resources. Approved by the PBB Board on January 9, 2023. 01/05/2023 |
Rural Jobs and Investment Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fifth year, the IFO reviewed the Manufacturing, Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. Click on the link to access the Rural Jobs and Investment Tax Credit Report. The report was amended on February 17, 2023 to include updates to Table 3.1 on page 14. Following publication of the RJITC report, the IFO became aware of a data discrepancy contained within a referenced study. As a result, the RJITC report was updated to exclude references to the “Evaluation of Alabama’s Entertainment Industry Incentive Program and New Markets Development Program” on February 23, 2023. 01/05/2023 |
Waterfront Development Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fifth year, the IFO reviewed the Manufacturing, Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. Click on the link to access the Waterfront Development Tax Credit Report. 01/05/2023 |
Department of Human Services - Part 3Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Human Services (Part 3). Approved by the PBB Board on January 25, 2022. The report was updated on May 4, 2022 to include addenda to Activity 1, 7 and 10. 05/04/2022 |
Department of EducationAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Education. Tabled by the PBB Board on January 26, 2022. The report was updated on January 31, 2022 for technical changes on pages 10, 15 and 16. The report was updated on April 26, 2022. The amended report includes additions requested by the PBB Board on March 9, 2022. The board’s request can be viewed here: http://www.ifo.state.pa.us//Resources/Documents/PBB_Board_Amend_03_09_22.pdf The underlying data for the dot plots can be viewed here: http://www.ifo.state.pa.us//Resources/Documents/DotPlotData.xlsx Approved by the PBB Board on May 25, 2022. 04/27/2022 |
Department of AgingAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Aging. Approved by the PBB Board on January 25, 2022. The report was updated on April 26, 2022 to include an addendum to Activity 1. 04/26/2022 |
Tax Credit reviewsIFO presentation of the Mixed-Use Development, Brewers’, Coal Refuse Energy and Reclamation and Educational Tax Credit reviews. 01/24/2022 |
Mixed-Use Development Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fourth year, the IFO reviewed the Brewers', Coal Refuse Energy and Reclamation, Educational and Mixed-Use Development Tax Credits. Click on the link to access the Mixed-Use Development Tax Credit Report. 01/20/2022 |
Brewers' Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fourth year, the IFO reviewed the Brewers', Coal Refuse Energy and Reclamation, Educational and Mixed-Use Development Tax Credits. Click on the link to access the Brewers’ Tax Credit Report. 01/20/2022 |
Educational Tax CreditsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fourth year, the IFO reviewed the Brewers', Coal Refuse Energy and Reclamation, Educational and Mixed-Use Development Tax Credits. Click on the link to access the Educational Tax Credits Report. 01/20/2022 |
Department of AgricultureAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Agriculture. Approved by the PBB Board on January 26, 2022. The report was updated on January 26, 2022 for technical changes on pages 20 and 21. 01/20/2022 |
Pennsylvania Historical and Museum CommissionAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Pennsylvania Historical and Museum Commision. Approved by the PBB Board on January 24, 2022. 01/20/2022 |
Department of Labor and IndustryAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Labor and Industry. Approved by the PBB Board on January 24, 2022. 01/20/2022 |
Coal Refuse Energy and Reclamation Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the fourth year, the IFO reviewed the Brewers', Coal Refuse Energy and Reclamation, Educational and Mixed-Use Development Tax Credits. Click on the link to access the Coal Refuse Energy and Reclamation Tax Credit Report. 01/20/2022 |
Department of Military and Veterans AffairsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Military and Veterans Affairs. 09/24/2021 |
Department of Human Services - Part 2Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Human Services (Part 2). 09/24/2021 |
Department of TransportationAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Transportation. 09/24/2021 |
Pennsylvania State PoliceAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Pennsylvania State Police. 09/24/2021 |
Keystone Special Development Zone Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the third year, the IFO reviewed the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credits. Click on the link to access the Keystone Special Development Zone Tax Credit Report. 09/24/2021 |
NAP, REAP, EEEP, VGP and KSDZ Tax Credit reviewsIFO presentation of the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credit reviews. 04/26/2021 |
Resource Enhancement and Protection Program Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the third year, the IFO reviewed the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credits. Click on the link to access the Resource Enhancement and Protection Program Tax Credit Report. IFO Letter to the SCC 04/23/2021 |
Entertainment Economic Enhancement Program Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the third year, the IFO reviewed the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credits. Click on the link to access the Entertainment Economic Enhancement Program Tax Credit Report. 04/23/2021 |
Neighborhood Assistance Program Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the third year, the IFO reviewed the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credits. Click on the link to access the Neighborhood Assistance Program Tax Credit Report. 04/23/2021 |
Video Game Production Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the third year, the IFO reviewed the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Keystone Special Development Zone Tax Credits. Click on the link to access the Video Game Production Tax Credit Report. 04/23/2021 |
OBMD, MTBI, R&D, and KIZ Tax Credit reviews and PBB Overview for DCED, DOH and DHSIFO presentation of Organ and Bone Marrow Donation, Mobile Telecommunications Broadband Investment, Research and Development and Keystone Innovation Zone Tax Credit reviews and Performance-Based Budget highlights for the Department of Community and Economic Development, Department of Health and Department of Human Services. 01/22/2020 |
Performance-Based Budget Board Hearings Agenda- Year 2The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings. 01/21/2020 |
Department of Human Services - Part 1Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Human Services. The report has been reposted with modifications adopted by vote of the Performance-Based Budget Board. 01/21/2020 |
Department of Community and Economic DevelopmentAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Community and Economic Development. 01/21/2020 |
Research and Development Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the second year, the IFO reviewed the Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Credits. Click on the link to access the Research and Development Tax Credit Report. 01/21/2020 |
Keystone Innovation Zone Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the second year, the IFO reviewed the Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Credits. Click on the link to access the Keystone Innovation Zone Tax Credit Report. 01/21/2020 |
Department of HealthAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Health. 01/20/2020 |
Pennsylvania Emergency Management AgencyAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Pennsylvania Emergency Management Agency. 01/16/2020 |
Department of StateAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. This report was updated to reflect the Performance-Based Budget Board vote to amend the report on January 22, 2020. Click on the link to access the performance-based budget review for the Department of State. 01/16/2020 |
Department of Environmental ProtectionAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Environmental Protection. 01/16/2020 |
Mobile Telecommunications Broadband Investment Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the second year, the IFO reviewed the Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Credits. Click on the link to access the Mobile Telecommunications Broadband Investment Tax Credit Report. 01/16/2020 |
Organ and Bone Marrow Donation Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the second year, the IFO reviewed the Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Credits. Click on the link to access the Organ and Bone Marrow Donation Tax Credit Report. 01/16/2020 |
Performance-Based Budget Board Hearings Agenda- RevisedThe IFO has posted a revised agenda for the upcoming performance-based budget and tax credit review hearings. 01/22/2019 |
Film Production Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the first year, the IFO reviewed the Film Production, Historic Preservation and New Jobs Tax Credits. Click on the link to access the Film Production Tax Credit Report. 01/18/2019 |
Film, Historic Preservation and New Jobs Tax Credit reviewsIFO presentation of the Film Production, Historic Preservation and New Jobs Tax Credit reviews. 01/18/2019 |
New Jobs Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the first year, the IFO reviewed the Film Production, Historic Preservation and New Jobs Tax Credits. Click on the link to access the New Jobs Tax Credit Report. 01/18/2019 |
Historic Preservation Tax CreditAct 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the first year, the IFO reviewed the Film Production, Historic Preservation and New Jobs Tax Credits. Click on the link to access the Historic Preservation Tax Credit Report. 01/18/2019 |
Performance-Based Budget reviewsClick on the hyperlink above to access the five performance-based budget reviews and presentations. 01/18/2019 |
Performance-Based Budget Board Hearings AgendaThe IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings. 01/16/2019 |
Performance-Based Budget Board Hearings ScheduleThe IFO has posted the schedule for upcoming performance-based budget and tax credit review hearings. 12/14/2018 |
PA Fiscal Update and OutlookDirector Matthew Knittel gave a presentation to the County Commissioners Association of Pennsylvania that reviews highlights from the IFO's recent Economic and Budget Outlook. 11/19/2018 |
Performance-Based Budget and Tax Credit review ScheduleThe IFO has posted the schedule for upcoming performance-based budgets and tax credit reviews. 01/30/2018 |
A review of Overtime Paid to Nurses in the Department of CorrectionsIn response to a legislative request, the IFO reviewed overtime paid to nurses employed by the Department of Corrections (DOC). 12/13/2017 |
Quarterly Revenue review 2017 Q3The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. 11/03/2017 |
Quarterly Revenue review 2017 Q2The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. 08/02/2017 |
Savings and Costs of a $12/hour Minimum Wage on DHS-administered ProgramsIn response to a legislative request, the IFO reviewed the Department of Human Services' projections for the state savings and costs that could occur if Pennsylvania's minimum wage were to be increased to $12 per hour. 06/30/2017 |
Quarterly Revenue review 2017 Q1The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. 05/05/2017 |
Quarterly Revenue review 2016 Q4The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. 01/24/2017 |
Quarterly Revenue review 2016 Q3The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. Fiscal Year 2016-17 2016 Q3 (July to September 2016) 10/27/2016 |
Natural Gas Extraction: An Interstate Tax ComparisonThis report compares Pennsylvania's unique natural gas tax structure to other states. The report also considers other taxes that may be levied on natural gas producers such as real and personal property, corporate and personal income, sales and use and miscellaneous fees. Due to the complexity of the analysis, readers are encouraged to thoroughly review the methodology and assumptions contained in Section 1 of this report. Full report Analysis-in-Brief (2 pages) Background on effective tax rates (2 pages, updated 4/4/2014 for the 2013 reporting year impact fee collections) 03/17/2014 |
PBB_2023_PID_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 65 |
index.cfmRevenue Estimates Revenue & Economic Update Performance Budgeting Energy Pension Analysis Property Tax Wage Contracts Tax Credit Review Economics and Other Featured Releases Initial Revenue Estimate Announcement Revenue Estimates May 13, 2024 The IFO will release its Initial and Budget Outlook for Fiscal Years 2023-24 to 2028-29 in November 2023. ... (Full Report) Summary of Tax Credit Reviews Tax Credit Review October 10, 2023 New IFO report highlights findings from the 20 tax credit reviews published during the Hits: 57 |
TC_2020_Research and Development Tax Credit.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the second year, the IFO reviewed four tax credits: the Research and Development, Key- stone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Hits: 51 |
TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the second year, the IFO reviewed four tax credits: the Research and Development, Key- stone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Hits: 46 |
TC_2019_Historic_Preservation_Tax_Credit_Report.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the first year, the IFO reviewed three tax credits: the Historic Preservation, Film Production and Jobs Creation Tax Credits. The act requires the IFO to submit tax credit Hits: 44 |
TC_2021_Resource_Enhancement_and_Protection.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the third year, the IFO reviewed five tax credits: the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Hits: 43 |
TC_2021_Neighborhood_Assistance_Program.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the third year, the IFO reviewed five tax credits: the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Hits: 41 |
TC_2019_New_Jobs_Tax_Credit_Report.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the first year, the IFO reviewed three tax credits: the Historic Preservation, Film Production and Jobs Creation tax credits. The act requires the IFO to submit tax credit Hits: 39 |
PBB_2019_DGS_Report.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 39 |
TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the second year, the IFO reviewed four tax credits: the Research and Development, Key- stone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Hits: 38 |
TC_2019_Film_Production_Tax_Credit_Report.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the first year, the IFO reviewed three tax credits: the Historic Preservation, Film Production and Jobs Creation tax credits. The act requires the IFO to submit tax credit Hits: 38 |
Summary_Tax_Credit_Reviews_Oct_2023.pdf23 - This page intentionally left blank. - Page 1 Introduction Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review the various Pennsylvania state tax credits every five years. 1 The IFO must submit all tax credit reviews to the Performance-Based Budget (PBB) Board for approval and make the reports available to the public on the IFO Hits: 38 |
TC_2021_Keystone_Special_Development_Zones_Update.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the third year, the IFO reviewed five tax credits: the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Hits: 36 |
TC_2021_Entertainment_Economic_Enhancement_Program.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the third year, the IFO reviewed five tax credits: the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Hits: 36 |
TC_2021_Video_Game_Production.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the third year, the IFO reviewed five tax credits: the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic Enhancement Program, Video Game Production and Hits: 35 |
TC_2020_Organ and Bone Marrow Donation Tax Credit.pdfof the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the second year, the IFO reviewed four tax credits: The Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Mar- row Donation Tax Hits: 35 |
TC_2023_Rural_Jobs_Investment.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fifth year, the IFO reviewed four tax credits: Manufacturing, Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. The act requires the IFO Hits: 34 |
TC_2023_Manufacturing.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fifth year, the IFO reviewed four tax credits: Manufacturing, Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. The act requires the IFO Hits: 34 |
PBB_2019_DOBS_Report.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 34 |
PBB_2022_DLI_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 33 |
PBB_2022_DHS_REPORT_ADDENDUM.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” For Hits: 33 |
PBB_2019_JCJC_Report.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 32 |
TC_2022_Mixed_Use_Development.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fourth year, the IFO reviewed four tax credits: the Educational, Coal Refuse Energy and Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires Hits: 30 |
PBB_2019_Criminal_Justice_Report.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 30 |
TC_2023_Waterfront_Development.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fifth year, the IFO reviewed four tax credits: the Manufacturing, Resource Manufac- turing, Rural Jobs and Investment, and Waterfront Development Tax Credits. The act requires Hits: 29 |
TC_2022_Educational_Tax_Credits.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fourth year, the IFO reviewed four tax credits: the Educational, Coal Refuse Energy and Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires Hits: 29 |
TC_2022_Coal_Refuse_Energy_and_Reclamation.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five-year period. For the fourth year, the IFO reviewed four tax credits: the Educational, Coal Refuse En- ergy and Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act Hits: 29 |
2007_divestment_complete_report.pdfsystems if the terror-sponsor legislation were passed. On behalf of the Commission, I hereby submit the report for your review and consideration. The Commission hopes that you will find it beneficial in your deliberations on this important and complex aspect Discussion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 – The Retirement Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 – Socially Responsible Investing . . . . . . . . . . . . . . . . . . . . . . . . . 8 – Divestment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 – Recent Divestment Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Part III. Divestment Bill Review and Analyses . . . . . . . . . . . . . . . . . . . . 13 – Bill Review House Bill Number 1140, Printer’s Number 2190 . . . . . . . . 13 – Bill Review House Bill Number 1085 Hits: 29 |
TC_2022_Brewers.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fourth year, the IFO reviewed four tax credits: the Educational, Coal Refuse Energy and Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires Hits: 28 |
PBB_2023_DDAP_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 28 |
PBB_2020_DOS_REPORT.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 27 |
TC_2023_PA_Resource_Manufacturing.pdfand Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review various state tax credits over a five- year period. For the fifth year, the IFO reviewed four tax credits: the Manufacturing, Resource Manufac- turing, Rural Jobs and Investment, and Waterfront Development Tax Credits. The act requires Hits: 26 |
ACN_SB1_A01354_A01558_2017_06_03a.pdfpercentage points for SERS. See pages 16 to 17 for details. Investment Fees The Public Pension Management and Asset Investment Review Commission will recommend expenditure reductions to provide $3.0 billion in actuarial savings on a cash flow basis and $1 for these sections with additional material on the benefit and funding structure of the Systems. Some readers may prefer to review the appendix before proceeding to the next section. Current Law (Act 120 of 2010) The retirement plans administered by the Hits: 26 |
ACN_SB1071_A10803_text.pdfby those school employees for whom participation is not mandatory. (6) The board may perform an annual or more frequent review of any qualified fund manager for the purpose of assuring it continues to meet all standards and criteria established. 2016 amounts deferred under the plan. The standards and criteria must provide for a variety of investment options and shall be reviewed in accordance with criteria established by the board. (v) Standards and criteria for disclosing to the participants the anticipated and Hits: 26 |
PBB_2019_PCCD_Report.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 25 |
PBB_2023_EO_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 24 |
PBB_2022_PHMC_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 24 |
PBB_2022_AGING_REPORT_Addendum.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 24 |
PBB_2021_PennDOT_REPORT_ADDENDUM.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 24 |
PBB_2022_PDE_REPORT_Amended.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 23 |
PBB_2020_DOH_REPORT_Final_Update.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 23 |
PBB_2020_DHS_REPORT_Final_Updated.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” For the purposes Hits: 23 |
PBB_2023_DOR_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 22 |
PBB_2020_DEP_Report.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 22 |
PBB_2021_DHS_REPORT_ADDENDUM.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” For Hits: 21 |
PBB_2020_PEMA_REPORT.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 20 |
PBB_2020_DCED_REPORT.pdfthe Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This report contains Hits: 20 |
PBB_2021_PSP_REPORT_ADDENDUM.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 19 |
Single-Use Plastics Report-2020_06.pdfto estimate the monetary value of exter- nalities such as reduced pollution. The report does not include a review of environmental and other impacts and externalities associated with the use and regulation of single-use plastics. Those issues are covered in did not specify a particular regulation to be used for the purpose of this analysis. Therefore, the IFO reviewed regulations enacted in states and large municipalities that have plastic retail bag regulations to establish relevant policy options. From that review, three Hits: 17 |
PBB_2023_DCNR_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 17 |
PBB_2022_AGRICULTURE_REPORT.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 17 |
PBB_2021_DMVA_REPORT_ADDENDUM.pdfMembers of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This review “shall be completed in a timely manner and submitted by the IFO to the board for review.” This Hits: 17 |
2006_surviving_spouse_healthcare_study.pdfproposed by House Resolution Number 161. On behalf of the Commission, I am pleased to submit this report for your review and consideration. The Commission is hopeful that you will find the report to be informative and useful in your deliberations REHP are prepared jointly by the Office of Administration and the Office of the Budget, and with the assistance and review of an actuarial consulting firm (Buck Consultants). The Office of Administration’s Employee Benefits Division has the primary responsibility for Hits: 12 |
IFO_Hearing_Packet_Feb2019.pdf2019-20 budget proposal. For the upcoming year, new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources. A schedule for PBB plans and tax credit reviews, developed jointly with the Office of the Budget, can be found at the end of this submission. In January 2019 Hits: 11 |
2020 PBB Agenda.pdfDesignees 3. New Business: Re‐Adopt Operating Rules 9:40 am – 9:45 am Overview of Plan Development Process and Review of Process Changes from Year 1 to Year 2 – Independent Fiscal Office Matt Knittel, Director, Independent Fiscal Office Brenda Warburton, Deputy Director, Independent Fiscal Office 9:45 am – 10:15 am Review of Pennsylvania Emergency Management Agency (PEMA) Plan David R. (Randy) Padfield, Executive Director, PEMA Bruce Trego, Commissioner, Office of the Hits: 10 |
2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdfprevent a recurrence of these issues in the future. In the course of that study, Commission staff conducted an extensive review of actuarial methodologies, legal strictures, analytical publications, various plan designs, the reforms adopted in other jurisdictions, and other matters specific the autumn of 2012 for that purpose.On behalf of the Commission, I hereby submit the attached report for your review and consideration. The Commission hopes that you will find the material presented in the report to be beneficial in your Hits: 10 |
2002_dbdc_report.pdfstudy issues identified in House Resolution Number 266. On behalf of the Commission, I hereby submit the report for your review and consideration. The Commission is hopeful that you will find this report to be informative and useful in your deliberations Objective No. 4 – Liability Considerations . . . . . . . . . . . . . . . . . . 23 Resolution Objective No. 5 – Fiduciary Responsibility Considerations . . . . 31 Resolution Objective No. 6 – Nationwide Implementation Review . . . . . . . . 34 Resolution Objective No. 7 – Implementation Issues . . . . . . . . . . . . . . . . . . . 39 Part III – Appendices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 Appendix I – House Resolution No. 266 . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 Appendix Hits: 10 |
Economic_and_Revenue_Update_2020.pdf2020-21 budget proposal. For the upcoming year, new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources. A schedule for PBB plans and tax credit reviews, developed jointly with the Office of the Budget, can be found at the end of this submission. In January 2020 Hits: 9 |
2000_cost_of_living_adjustments.pdfthe provision of future cost-of-living adjustments. On behalf of the Commission, I hereby submit the report for your review and consideration. The Commission is hopeful that you will find it beneficial in your deliberation on this important and costly minimum pension entails setting a minimum pension per year of service for retirees with career length service and scheduling periodic reviews of the minimum pension based on both the system demographics and the change in the standard of living. Although the Hits: 9 |
Revenue-Proposal-Analysis-2019-03.pdfreporting could increase revenues by roughly 9 to 13 percent. As an update to that analysis, the IFO reviewed CNIT collections and GDP data for the six states (“CR states”) that have implemented com- bined reporting since 2006 to determine the a perfectly competitive labor market. The analysis begins with a comparison of state minimum wage rates and a review of recent minimum wage studies. The analysis then examines the characteristics of lower-wage workers based on hourly wage rates, part- or Hits: 8 |
IFO_Hearing_Packet_Feb2018.pdfproposal. For the upcoming year, the fulfillment of new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources. A schedule for PBB and tax credit reviews, developed jointly with the Office of the Budget, can be found at the end of this submission. It is the Hits: 8 |
2004_srpvffinal.pdfplan for volunteer firefighters in Pennsylvania. On behalf of the Commission, I am pleased to submit this report for your review and consideration. The Commission is hopeful that you will find it to be informative and useful in your deliberations on statewide volunteer firefighter retirement system, to be funded by the Commonwealth and be administered by a single Commonwealth agency; 2) review the benefit structures and funding considerations of the retirement systems in other governmental units that have established such plans for Hits: 8 |
TaxCredit and PBB Overview- 2019-01-24.pptxTax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 1/24/2019 0 Act 48 of 2017 – Tax Credit Duties The tax credit review: ▪ Identify the purpose for which the tax credit was established. ▪ Is the credit accomplishing its legislative intent? ▪ Could it be Hits: 7 |
Revenue_Proposal_Analysis_2021_04.pdffound that combined reporting could increase revenues by roughly 9% to 13%. As an update to that analysis, the IFO reviewed CNIT collections and GDP data for three large states (Massachusetts, New York and Wisconsin) that implemented combined reporting since 2006 recent budget hearings, several members inquired about the impact of the higher PIT rate on migration. The text that follows reviews the main findings and results from four prominent tax migration studies that have been published recently. The studies appear in Hits: 7 |
Presentation-2018-10-Performance-Based-Budget-Board.pdfIFO to develop performance-based budget (PBB) plans for each agency under the Governor’s jurisdiction and conduct tax credit reviews every fifth year The IFO and Budget Secretary jointly develop the schedule for PBB plans and tax credit reviews Year 1 agencies include: Corrections Board of Probation and Parole PA Commission on Crime and Delinquency Juvenile Court Judges Hits: 7 |
PBB-Board-Hearing-Agenda-January 2019-Revised.pdfIndependent Fiscal Office Matt Knittel, Director, Independent Fiscal Office Brenda Warburton, Deputy Director, Independent Fiscal Office 10:20am - 11:00am Review of Department of Corrections and Pennsylvania Board of Probation and Parole Plan John Wetzel, Secretary, Department of Corrections Christopher Oppman Bell, Special Assistant to the Secretary, DOC Leo Dunn, Chairman, Pennsylvania Board of Probation and Parole 11:00am - 11:30am Review of Juvenile Court Judges’ Commission Plan Richard D. Steele, Executive Director, Juvenile Court Judges’ Commission Robert Tomassini, Deputy Director, Juvenile Hits: 7 |
PBB Board Hearing Agenda- January 2019.pdfIndependent Fiscal Office Matt Knittel, Director, Independent Fiscal Office Brenda Warburton, Deputy Director, Independent Fiscal Office 10:20am - 11:00am Review of Department of Corrections and Pennsylvania Board of Probation and Parole Plan John Wetzel, Secretary, Department of Corrections Christopher Oppman Bell, Special Assistant to the Secretary, DOC Leo Dunn, Chairman, Pennsylvania Board of Probation and Parole 11:00am - 11:30am Review of Juvenile Court Judges’ Commission Plan Richard D. Steele, Executive Director, Juvenile Court Judges’ Commission Robert Tomassini, Deputy Director, Juvenile Hits: 7 |
HAC testimony Feb 2019.pdflike to make some brief comments regarding the IFO’s recently published performance-based budget (PBB) plans and tax credit reviews. Revenue Update for FY 2018-19 Through January, actual revenues exceed the IFO official revenue estimate by $321 million (and and service industry jobs will comprise the majority of net new jobs created. Performance Based-Budgeting (PBB) and Tax Credit Reviews In January 2019, the IFO submitted five PBB plans and three tax credit reviews to the PBB Board for their Hits: 7 |
Tax_Credit_and_PBB_Overview_2019-01-24.pdfTax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 Act 48 of 2017 – Tax Credit Duties The tax credit review: Identify the purpose for which the tax credit was established. Is the credit accomplishing its legislative intent? Hits: 6 |
TaxCredit and PBB Overview- 2019-01-24.pdfTax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 Act 48 of 2017 – Tax Credit Duties The tax credit review: Identify the purpose for which the tax credit was established. Is the credit accomplishing its legislative intent? Hits: 6 |
RB_2023_08_Wage_Contract.pdfIndependent Fiscal Office (IFO) is statutorily required to provide a cost analysis of the agreement. Most CBAs subject to IFO review expired June 30, 2023. Recently, members of the American Federation of State, County and Municipal Employees (AFSCME) ratified a new is by far the largest agreement and comprised 65% of the total budget impact of all CBAs that required IFO review in the prior term (2019 to 2023). Historically, once this contract is approved, other CBAs will contain similar provisions. This Hits: 6 |
QRR_2015Q2.pdfApril to June 2015 Quarterly Revenue Review Fiscal Year 2014-15 Page 1 Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its revenue growth rates by month, fiscal year and the most recent three or twelve-month periods. Quarterly Revenue Review April to June 2015 Page 2 estimate. Additional detail on specific revenue sources can be found in Table 4. The following text Hits: 6 |
IFO_Pension_Analysis_Policies_(January_1_2024).pdfpension analysis. These policies will be effective unless updated and reissued. A link to the relevant statute that confers pension review duties to the IFO can be found at the end of the document. IFO’s Role in the Pension Legislation Review Process The IFO’s role in the pension legislation review process has two basic steps. First, the IFO determines whether Hits: 6 |
IFO_Hearing_8-30-2017.pdfthe office policy, we make all published reports available on our website after the requestor has had three days to review the response and ask questions. The office also (1) estimates the budgetary impact of collective bargaining agreements, (2) coordinates and Production Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. • Quarterly Revenue Review. Published after each quarter to compare the IFO’s revenue estimates to actual revenues. Published Reports and Analyses (since June Hits: 6 |
Revenue_Proposal_Analysis_2024_03.pdfrelated to traffic safety, emergency department visits and poison control calls: ▪ Effects of Cannabis Legalization on Road Safety: A Literature Review (2023) was a comprehensive review of 29 papers on the impact of marijuana legalization (medical, recreational and both) on road safety. Most papers (22) found Hits: 5 |
Revenue-Proposal-Analysis-2020-04.pdfcompared to control states that did not enact combined reporting. As an update to that analysis, the IFO reviewed CNIT collections and gross domestic product (GDP) data for three large states (Massachusetts, New York and Wisconsin) that implemented combined reporting since were enacted under current conditions. The analysis begins with a comparison of state minimum wage rates and a review of recent minimum wage studies. The analysis then examines the characteristics of lower-wage workers based on hourly wage rates, part- or Hits: 5 |
QRR_2016Q1.pdfJanuary to March 2016 Quarterly Revenue Review Fiscal Year 2015-16 Page 1 Introduction Each fiscal year, the IFO publishes a quarterly breakdown of its annual estimates the Independent Fiscal Office for more detail on revenue growth rates by month and fiscal year. Quarterly Revenue Review January to March 2016 Page 2 Table 2 contains detail on actual and projected growth rates of major revenue sources for the Hits: 5 |
QRR_2015Q4.pdfOctober to December 2015 Quarterly Revenue Review Fiscal Year 2015-16 Page 1 Introduction Each fiscal year, the IFO publishes a quarterly breakdown of its annual estimates the Independent Fiscal Office for more detail on revenue growth rates by month and fiscal year. Quarterly Revenue Review October to December 2015 Page 2 Table 2 contains detail on actual and projected growth rates of major revenue sources for the Hits: 5 |
QRR_2015Q3.pdfJuly to September 2015 Quarterly Revenue Review Fiscal Year 2015-16 Page 1 Introduction Each fiscal year, the IFO publishes a quarterly breakdown of its annual estimates the Independent Fiscal Office for more detail on revenue growth rates by month and fiscal year. Quarterly Revenue Review July to September 2015 Page 2 For the first quarter of FY 2015-16, General Fund revenues were $74 million above estimate Hits: 5 |
QRR_2015Q1.pdfJanuary to March 2015 Quarterly Revenue Review Fiscal Year 2014-15 Page 1 Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its revenue growth rates by month, fiscal year and the most recent three or twelve-month periods. Quarterly Revenue Review January to March 2015 Page 2 estimate. Additional detail on specific revenue sources can be found in Table 4. The following text Hits: 5 |
QRR_2014Q4.pdfOctober to December 2014 Quarterly Revenue Review Fiscal Year 2014-15 Page 1 Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its revenue growth rates by month, fiscal year and the most recent three or twelve-month periods. Quarterly Revenue Review October to December 2014 Page 2 other revenues were $97 million above estimate. Additional detail on specific revenue sources can be found Hits: 5 |
QRR_2014Q2.pdfApril to June 2014 Quarterly Revenue Review Fiscal Year 2013-14 Page 1 Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its revenue growth rates by month, fiscal year and the most recent three or twelve-month periods. Quarterly Revenue Review April to June 2014 Page 2 million and $283 million, respectively. All other revenues were below estimate by $197 million. Additional detail Hits: 5 |
QRR_2013Q4.pdfOctober to December 2013 Quarterly Revenue Review Fiscal Year 2013-14 Page 1 Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its revenue growth rates by month, fiscal year and the most recent three or twelve-month periods. Quarterly Revenue Review October to December 2013 Page 2 million and $26 million, respectively. All other revenues were below estimate by $24 million. Additional detail Hits: 5 |
Public Employee Retirement Laws of PA Local Governments (2009).pdfBenefit Changes . . . . . . . . . . . . . . . . . . . . . 26 General Municipal Pension System State Aid . . . . . 27 Recovery Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 -iii- Table of Contents (Cont'd) Page Review of Local Government Employee Retirement System Laws Pennsylvania Municipal Retirement System . . . . . . 33 County Retirement System Statutes . . . . . . . . . . . 42 City of the Assem- bly. Main Responsibilities. Under the Public Employee Retirement Commission Act, the Commission has two main responsibilities. One is to review legislation affecting public employee retirement systems. The other is to study, on a continuing basis, public employee retirement system policy Hits: 5 |
PBB-Board Hearing Jan 23 2020.pptxTax Credit Reviews Organ and Bone Marrow Donation Mobile Telecom Broadband Research and Development Keystone Innovation Zones DCED PBB Highlights Presentation to the Performance-Based Budget Board January 23, 2020 2/27/2020 0 Tax Credit Reviews - Overview Tax credit reviews have four objectives ▪ Identify the purpose for which the tax credit was establishe d ▪ Is the Hits: 5 |
Revenue_Proposal_Analysis_2022_04.pdfthe corporate net income tax (CNIT). For the first three, the IFO met with the Department of Revenue (DOR) and reviewed their estimate methodology. The IFO relied on DOR estimates due to the office’s lack of data (e.g., detail pay the state minimum, regardless of tip income. 3 The administration has made similar proposals in prior years that were reviewed by the IFO. The last review was released in April 2021. Where possible, this year’s analysis updates the April Hits: 4 |
QRR_2013Q3.pdfJuly to September 2013 Quarterly Revenue Review Fiscal Year 2013-14 Page 1 Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its revenue growth rates by month, fiscal year and the most recent three or twelve-month periods. Quarterly Revenue Review July-September 2013 Page 2 Corporate Net Income Tax Corporate net income tax collections fell below projections by $25 million for the Hits: 4 |
IFO_Hearing_Materials_Feb_22_2022.pdfIncome Tax State Comparison ........................................................... 14 State Pension Outlook ............................................................................................. 15 Economic Development Incentives ........................................................................... 16 Minimum Wage by State ......................................................................................... 18 PBB – Agency Reviews ............................................................................................ 19 PBB - Tax Credit Evaluations .................................................................................... 20 PBB – Five-Year Schedule ........................................................................................ 21 - This page intentionally left blank. - Independent Fiscal Office 1 revenue proposals included in the Executive Budget, (4) publish performance-based budgeting reports for executive agencies, (5) publish tax credit review reports, (6) dynamic modeling and (7) at the request of members of the General Assembly, provide economic, revenue or fiscal Hits: 4 |
TC_Board_Hearing_Jan_24_2022.pdfAnnual Tax Credit Reviews Mixed-Use Development Brewers’ Coal Refuse Energy and Reclamation Educational Presentation to the Performance-Based Budget Board January 24, 2022 Tax Credit Reviews for Year 4 Statute: Did the tax credits accomplish their legislative intent? ▪ Mixed-Use – Qualified Yes, unclear if it actually Hits: 3 |
Response-Letter-2-27-2020.pdfmany of the prevention services currently provided by counties in Pennsylvania. The rate at which additional evidence-based programs are reviewed and approved by the U.S. HHS to be added to February 27, 2020 Page 5 the Clearinghouse will determine under consideration? Transitional funding is available for non-rated prevention programs until the time that the U.S. HHS can review and rate the programs to determine if they should be added to the Clearinghouse. To receive the transitional funding, documentation Hits: 3 |
PBB_Board_Hearing_Jan_11_2023.pdf8 89% 54 23% Financial Regulation 8.5 3 58 24 Administration 6.1 2 36 15 Product and Rate Review 5.5 2 33 14 Prof. Lic. & Market Conduct 4.6 2 36 15 Consumer Services 2.9 1 23 expenditures in $ millions. FTEs Expenditures PID Budgeted Funds by Activity (FY 22-23) January 11, 2023 3 Funds Product & Rate Review Consumer Services Prof. Lic. & Market Conduct Financial Regulation Liquid., Rehab. and Spec. Funds Admin. Total Med Care Avail. & Red. Error Hits: 3 |
PBB_Board_Hearing_Apr_26_2021.pdfTax Credit Reviews Presentation to the Performance-Based Budget Board April 26, 2021 Tax Credit Reviews for Year 3 Theme: improving the lives of PA residents ▪ NAP – incentivizes investment in distressed communities ▪ REAP – reduces water pollution Hits: 3 |
PBB-Overview-2019-01-22.pdfagency mission and goals. Any data that are requested, relevant and available. IFO submits plans to PBB Board for review. If disapproved, return to IFO with recommendations. January 22, 2019 1 General PBB Methodology Modeled on Washington State (implemented Time needed to develop quality outcome metrics. January 22, 2019 2 PBB Timeline in First Year Jan 2018 PBB review schedule set by Budget Office and IFO Mar to Jul general research, design data template, contact other states (NM, WA Hits: 3 |
FTA_Presentation_Oct_24_2022.pdfpartisan Duties span a wide range of issues: ▪ Revenue estimates (how much revenues are available?) ▪ Performance based budgeting | Tax credit reviews ▪ Special Studies: property tax reform, natural gas, minimum wage October 24, 2022 1 Act 48 Tax Credit Reviews Statute: Did the tax credits accomplish their legislative intent? ▪ Submit reviews to Performance-Based Budget Board ▪ Annual legislative hearing | Administrating Hits: 3 |
Economic_and_Revenue_Update_2021.pdfProposal: Combined Reporting ......................................................... 27 Marijuana Taxation Across States ........................................................................... 28 Pennsylvania State Police Municipal Fee Proposal .................................................... 29 PBB and Tax Credit Review Schedule ..................................................................... 30 - This page intentionally left blank. - Independent Fiscal Office 1 March 2021 Independent Fiscal Office Overview Independent Fiscal Office revenue proposals included in the Executive Budget, (4) publish performance-based budgeting reports for executive agencies, (5) publish tax credit review reports and (6) at the request of members of the General Assembly, provide economic, revenue or fiscal analysis to the Hits: 3 |
CNIT-Rate-Cut-2018-04.pdf99 to 4.99 percent over five years. It should be noted that this analysis does not provide a comprehensive review of all potential issues that could affect state CNIT revenues. The analysis has a narrow and limited scope and only Taxation (October 2013). 7 “How TPC Distributes the Corporate Income Tax,” Tax Policy Center (September 2012). 8 “New OECD Study Reviews Research on Who Bears the Burden of Business Taxes,” Tax Foundation (January 12, 2018). 9 “Labor Bears Much of the Hits: 3 |
Budget_Hearing_Background_Feb2016.pdfReport. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. Quarterly Revenue Review. Published after each quarter to compare the IFO’s revenue estimates to actual revenues. Published Reports and Analyses (since January and Outlook (June 2015) Quarterly Revenue Estimates (September 2015) Natural Gas Production Report (October 2015) Quarterly Revenue Review (October 2015) Raising the Minimum Wage in Pennsylvania (November 2015) Shared Risk Pension Analysis (December 2015) Economic Hits: 3 |
Budget Hearings Packet.pdfProduction Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. • Quarterly Revenue Review. Published after each quarter to compare the IFO’s revenue estimates to actual revenues. Published Reports and Analyses (since January 2016) • SEIU Wage Contract Analysis (September 2016) • Actuarial Note Transmittal for A10803 to Senate Bill 1071 (October 2016) • Quarterly Revenue Review (October 2016) • Five-Year Economic and Budget Outlook (November 2016) • Natural Gas Production Report Quarter 3 (November 2016) • Impact Fee Hits: 3 |
Budget Hearings Packet- Web Version.pdfProduction Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. • Quarterly Revenue Review. Published after each quarter to compare the IFO’s revenue estimates to actual revenues. Published Reports and Analyses (since January 2016) • SEIU Wage Contract Analysis (September 2016) • Actuarial Note Transmittal for A10803 to Senate Bill 1071 (October 2016) • Quarterly Revenue Review (October 2016) • Five-Year Economic and Budget Outlook (November 2016) • Natural Gas Production Report Quarter 3 (November 2016) • Impact Fee Hits: 3 |
TC_Board_Hearing_Jan_10_2023.pdfAnnual Tax Credit Reviews Manufacturing PA Resource Manufacturing Rural Jobs and Investment Waterfront Development Presentation to the Performance-Based Budget Board January 10, 2023 Tax Credit Reviews for Year 5 Statute: Did the tax credits accomplish their legislative intent? ▪ Manufacturing – Unlikely due to low level of incentive Hits: 2 |
Tax_Credit_and_Other_Incentives_2022.pdfannual tax credit of $2,100 over ten years for each new job created. • As part of the tax credit reviews required by Act 48 of 2017, the IFO is reviewing the Manufacturing, Pennsylvania Resource Manufacturing, Rural Jobs and Investment, and Waterfront Development Tax Credits. Reports will be posted to the Hits: 2 |
Revenue_Proposal_Analysis_2023_05.pdfto 4%. Column four (elasticity) is the employment response parameter used for each wage group and is based on a review of minimum wage studies. An elasticity or response parameter of -0.125 implies a 1.25% employ- ment reduction for their employment compared to other groups under a $15 minimum. A 2022 National Bureau of Economic Research (NBER) working paper reviewed 70 minimum wage analyses published since 1992. For each of the 70 studies included, the working paper’s authors requested Hits: 2 |
Revenue-Estimate-2020-05.pdffor state agencies that will affect federal funding levels in the current year and budget year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget for base federal appropriations as well as for additional federal funds authorized in response to the COVID-19 pandemic. In addition, the IFO reviewed Federal Funds Information for States (FFIS) reports on estimated state COVID-19 federal funding and proposed state legislation to appropriate those funds Hits: 2 |
RB_2021_11_Economic_Development_Incentives.pdfup to $1.5 million per taxpayer (annual program cap of $10.0 million). • As part of the tax credit reviews required by Act 48 of 2017, the IFO is reviewing the Educational Improvement and Opportunity Scholarship, the Coal Refuse Energy and Reclamation, Mixed-Use Development and Brewers’ tax credits. Reports Hits: 2 |
RB_2020_12_PPP_Loans_to_PA_Businesses.pdffrom when the loan was received. The private lender has 60 days from the borrower’s date of application to review, approve and submit the application to the SBA, which then has 90 days to review and make a final determination. Currently, the SBA has not published data related to the number of applications received or Hits: 2 |
RB-10-2020-Economic_Development_Incentives.pdfthe production of petrochemicals and fertilizers. The program becomes effective January 1, 2024. As part of the tax credit reviews required by Act 48 of 2017, the IFO is reviewing the Neighborhood Assistance Program, Resource Enhancement and Protections Program, Entertainment and Economic Enhancement, Video Game Production and Keystone Special Development Hits: 2 |
RB 2019 RACP.pdf2.8 million), but only awarded 217 grants over a four- year term ($153 million annually). State Comparisons The IFO reviewed other states to compare debt levels (gross and per capita debt) and to identify programs that are similar or comparable appropriations from prior fiscal years. 7 Maryland lists “Legislative Initiatives” as a line item in its enacted capital budget review document. For the current fiscal year, $15.0 million in general obligation bonds have been approved. The list includes projects Hits: 2 |
PBB_Board_Hearing_Sept_28_2021.pdfPBB Addendums Updated Keystone Special Development Zone Tax Credit Review Presentation to the Performance-Based Budget Board September 28, 2021 PBB Addendum Requests Pennsylvania Department of Transportation ▪ Activity 12 – Administration the true incentivization parameter and whether the breakeven threshold is met ▪ Can be revisited for next round of tax credit reviews September 28, 2021 5 Keystone Special Development Zones (KSDZ) Recommendations ▪ Implement program/project caps | limits potential tax impact ▪ Front loading Hits: 2 |
IFO - Economic and Budget Outlook - January 2012.pdf11.6 percent for FY 2016-17. 3 Methodology In fulfillment of Act 120 of 2010, this report provides a review of the economic, demographic, revenue and expenditure trends that will affect the Commonwealth’s fiscal position for the current fiscal pre-recession (2003-07), recession and early recovery (2008-10), recovery (2011- 14) and steady state (2015-17). A summary review of the table reveals that economic growth rates are not projected to revert to pre-recession levels until 2015. However Hits: 2 |
House_Appropriation_Response_Letter_3_17_2021.pdflegalized recreational marijuana and associated costs arising from legalization that are external to revenue estimates. The Independent Fiscal Office (IFO) reviewed various studies from four states that were early enactors of recreational marijuana legalization. These states include Colorado (recreational use legalized 2018). March 17, 2021 Page 2 Adult Use Current (past month) marijuana use increased among adults in the four states reviewed, but did not vary significantly from national trends. Colorado reported that marijuana use increased 5 percentage points for ages 18 Hits: 2 |
Five_Year_Outlook_2017_Presentation.pdfBenefit Analysis - PEW Results First model. Performance-Based Budgeting (PBB). Act 48 of 2017: New PBB and tax credit review duties. IFO to develop PBB plans for all executive agencies. Develop clear metrics to measure progress towards goals. Submit plans to PBB Board for consideration and approval. On the tax side: annual tax credit reviews. Are they achieving their goals? How can they be improved? November 16, 2017 3 Our Guest Speaker Chaaron Pearson Hits: 2 |
SUT Exemption for Aircraft - January 2013.pdfthe sales tax exemption, sales of other items not covered by the exemption increased as well.” See “A Review of the Sales and Use Tax Exemption for Private Aircraft Parts and Service,” New York Office of Tax Policy Analysis (May 2009 Hits: 1 |
SD-Property-Tax-Forecast-2020.pdfobligations, special education expenditures, grandfathered debt service and electoral debt service. 6 The exceptions process is administered by PDE, which reviews the data submitted by the school district and validates that the request complies with the law. If the request is Hits: 1 |
SD-Property-Tax-Forecast-2019.pdfobligations, special education expenditures, grandfathered debt service and electoral debt service. 6 The exceptions process is administered by PDE, which reviews the data submitted by the school district and validates that the request complies with the law. If the request is Hits: 1 |
Revenue_Estimate_2023_06.pdfthe appropriated amounts. Agencies typically request authority to spend all federal funds anticipated for a given fiscal year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget regarding requested federal Hits: 1 |
Revenue_Estimate_2022_06.pdfto the COVID-19 pandemic, Congress enacted additional funding for state agencies that will affect federal funding levels. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget for base federal Hits: 1 |
Revenue_Estimate_2022_05.pdfto the COVID-19 pandemic, Congress enacted additional funding for state agencies that will affect federal funding levels. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget for base federal Hits: 1 |
Revenue_Estimate_2021_05.pdf19 pandemic, Congress has enacted additional amounts of funding for state agencies that will affect federal funding levels. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget for base federal Hits: 1 |
Revenue-Proposal-Analysis-2018-04.pdfseverance tax in future fiscal years. The table also 11 Estimated post-production costs are based on a review of an investor presentation for a large Pennsylvania extractor and certain filings with the U.S. Securities and Exchange Commission. 12 West Hits: 1 |
Revenue-Estimate-2023-05.pdfthe appropriated amounts. Agencies typically request authority to spend all federal funds anticipated for a given fiscal year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget regarding requested federal Hits: 1 |
Revenue-Estimate-2019-05.pdfamounts. Agencies typically request authority to spend all federal funds anticipated for a given fiscal year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget regarding requested federal funds authority Hits: 1 |
RB_2023_03_Expiration_of_the_Enhanced_FMAP.pdfor (2) no longer qualify for any DHS program (disenrolled). DHS projects that it will need roughly 12 months to review and redetermine all applicable enrollees. FY 23-24 FY 24-25 Fully Enhanced FMAP $2,491 $2,566 Medical Assistance Hits: 1 |
RB_2021_01_Economic_Impact_of_Federal_Stimulus.pdfon various factors including the type of benefit (e.g., stimulus checks vs. unemployment compensation) and household income. A systematic review of the literature conducted by Carroll et al. (2017) finds aggregate MPCs generally range from 20% to 60%. However, the Hits: 1 |
RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdfon income level, family size, filing status, homeownership status and various other factors. This research brief provides a high-level review of how tax law changes affect reported Total Income, Taxable Income, various deductions and tax credits, and Tax Liability. The Hits: 1 |
RB-2018-01.pdfobligations, special education expenditures, grandfathered debt service and electoral debt service. 7 The exceptions process is administered by PDE, which reviews the data submitted by the school district and validates that the request complies with the law. If the request is Hits: 1 |
QRR_2017Q3.pdfPage 1 QUARTERLY REVENUE REVIEW JULY TO SEPTEMBER Fiscal Year 2017-18 Each fiscal year, the Independent Fiscal Office (IFO) publishes monthly breakdowns of its Hits: 1 |
QRR_2017Q2.pdfPage 1 QUARTERLY REVENUE REVIEW APRIL TO JUNE Fiscal Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates Hits: 1 |
QRR_2017Q1.pdfINDEPENDENT FISCAL OFFICE Page 1 QUARTERLY REVENUE REVIEW JANUARY TO MARCH Fiscal Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates Hits: 1 |
QRR_2016Q4.pdfINDEPENDENT FISCAL OFFICE Page 1 QUARTERLY REVENUE REVIEW OCTOBER TO DECEMBER Fiscal Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates Hits: 1 |
QRR_2016Q3.pdfINDEPENDENT FISCAL OFFICE Page 1 QUARTERLY REVENUE REVIEW JULY TO SEPTEMBER Fiscal Year 2016-17 INTRODUCTION Each fiscal year, the Independent Fiscal Office (IFO) publishes a quarterly breakdown Hits: 1 |
QRR_2015Q3_preliminary.pdfFund and Lottery Fund revenues. The office provides a detailed comparison of actual versus estimated revenues in the Quarterly Revenue Review, which is published after the end of each quarter. This document provides preliminary results for the General Fund prior to Hits: 1 |
PSCOA Wage Contract Analysis- 2020.pdfachieved through negotiations and was not the product of an interest arbitration award. Therefore, the contract is subject to IFO review. June 26, 2020 Page 2 agreement. The baseline scenario assumes no change in wages or benefits paid to current employees Hits: 1 |
PSBA_January_19_2022.pdfto further consideration ▪ Property tax: forecasts and analysis depending on requests/data available ▪ Performance Based Budgets (PBB) and Tax Credit reviews ▪ Natural Gas: quarterly production reports, annual impact fee collections January 19, 2022 1 Latest Pennsylvania Demographic Forecast January 19, 2022 Hits: 1 |
PSBA Webinar - IFO - Act5_Actuarial.pdfwill decline to $600 million by the 6/30/2048 valuation. Investment fees. Public Pension Management and Asset Investment Review Commission. Study (1) current investment strategies, (2) costs and benefits of active and passive investments and (3) alternate investment Hits: 1 |
Presentation-Initial-Revenue-Estimate-2018-05.pdfOfficial (Nov 17) 34,704 9.6% Executive Budget (Feb 18) 34,752 9.7% Note: Dollar amounts in millions. Review of FY 2017-18 Estimates May.01.2018 3 FY 2017-18 Gains Driven by Economy Amount IFO Revised Official Hits: 1 |
PEW_Presentation(Video).pptxcommittees • Utilize existing committee structure • Require the governor to make recommendations after evaluations • Establish expiration dates on incentives to encourage review pewtrusts.org/ taxincentives With evaluations, states can… • Make subtle changes to incentives to increase their return on investment • Identify programs Hits: 1 |
PEW_Presentation(Video).ppsxcommittees • Utilize existing committee structure • Require the governor to make recommendations after evaluations • Establish expiration dates on incentives to encourage review pewtrusts.org/ taxincentives With evaluations, states can… • Make subtle changes to incentives to increase their return on investment • Identify programs Hits: 1 |
PBB_TaxCredits_Schedule_2022_Update.pdfPerformance-Based Budgeting and Tax Credit Review Schedule Year Performance-Based Budgets 1 Corrections Board of Probation and Parole PA Commission on Crime & Delinquency Juvenile Court Judges Hits: 1 |
PBB_Board_Amend_03_09_22.pdfof 2017, I am making a motion to direct the IFO to amend and resubmit the 2022 performance-based budget review for the Department of Education by May 16, 2022 with the following recommendations: 1. Include citations for PDE data from Hits: 1 |
PBB-Board-Hearings-Schedule-2019.pdfM. - 11:30 A.M. Hearing Room 1- NOB meetings rescheduled Hearing Room 1- NOB Department of Corrections Tax Credit Reviews: Pennsylvania Board of Probation and Film Production, New Jobs, Historic Parole Preservation Incentive Juvenile Court Judges' Commission 11:30 A Hits: 1 |
PBB-Board-Hearing-Jan-22-2020.pdfbased on activity | not line item Activities: What services does the agency provide? January 22, 2020 2 Year 2 Reviews - What’s New? More efficiency, outcome and benchmark metrics Able to meet with agencies earlier than last year (start Hits: 1 |
PA_Turnpike_Toll_Projections_May_31_2013.pdfby this analysis. Section V presents projections of toll revenues across four scenarios. Section VI concludes the analysis with a review of primary results. A technical appendix provides data on historical Turnpike toll revenues, toll rates and E-ZPass utilization rates Hits: 1 |
Official-Revenue-Estimate-2019-06.pdfamounts. Agencies typically request authority to spend all federal funds anticipated for a given fiscal year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget regarding requested federal funds authority Hits: 1 |
Official-Revenue-Estimate-2018-06.pdfamounts. Agencies typically request authority to spend all federal funds anticipated for a given fiscal year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget regarding requested federal funds authority Hits: 1 |
NFIB_Presentation.pdfFive-year budget and economic outlook (November). ◦ Supply actuarial notes for pension legislation. ◦ Performance-based budget reports and tax credit reviews. ◦ Analysis of collective bargaining agreements. ◦ Special studies at request of General Assembly. Dec.13.2017 2 A Unique State Office Hits: 1 |
NAP-2018-03.pdf48-1994). 2 This report is provided in response to a legislative request and does not constitute a tax credit review as required under Act 48-2017. 3 The following areas are deemed distressed for purposes of the NAP: Enterprise Zones Hits: 1 |
MTR-2019-06.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2019-05.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2019-04.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2019-03.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2019-02.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2019-01.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-12.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-11.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-10.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-09.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-08.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-07.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-06.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
MTR-2018-05.pdfindex; it measures average price changes in repeat sales or refinancing on the same properties. These data are obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac Hits: 1 |
Monthly_Economic_Update_February_2021.pdfWSJ notes that the national trend of declining cigarette sales (-5.5% in 2019) has slowed during the pandemic. A review of cigarette tax collections from July 2020 to February 2021 reveals this trend also applies to Pennsylvania. The Commonwealth levies Hits: 1 |
MER-2014-09.pdfhas contracted, but still recorded a net gain over the decade. In the December 2013 edition of the Monthly Labor Review, the BLS published U.S. employment projec‐ tions across all industries through 2022. The report anticipates that the federal sector Hits: 1 |
June_Revenue_Estimate_2021.pdf19 pandemic, Congress has enacted additional amounts of funding for state agencies that will affect federal funding levels. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget for base federal Hits: 1 |
Initial_Estimate_Announcement_May_2022.pdfan updated revenue estimate for FY 2021-22 and an initial revenue estimate for FY 2022-23. The presentation will review and discuss recent and projected economic trends that impact General Fund revenues. The report will be posted to the IFO Hits: 1 |
Initial-Revenue-Estimate-2018-05.pdfamounts. Agencies typically request authority to spend all federal funds anticipated for a given fiscal year. The IFO reviewed Request for Appropriation of Federal Funds (RAFF) forms and reports provided by the Office of the Budget regarding requested federal funds authority Hits: 1 |
IFO_Testimony_CR_June_29_2023.pdfyou for the opportunity to testify on the filing method known as combined reporting. For my brief remarks, I will review the figure and three tables that are attached. Under mandatory combined reporting, multi-state firms that form a unitary group Hits: 1 |
IFO_Revenue_Estimate_2013-14_Mid-Year_Update.pdfGovernor and published by the Department of Revenue was $29.116 billion, a difference of $38.5 million. The IFO reviewed its estimate based on actual collections for the first half of the fiscal year and expectations for the second half Hits: 1 |
IFO_Job_Opportunity_Deputy_Director.pdfcommunication skills • Has experience in managing personnel, policies and projects • Is knowledgeable about federal and state funding sources • Has experience reviewing and analyzing government budgets and tax policies Work Location: Rachel Carson State Office Building, 400 Market Street, Harrisburg, Pennsylvania Work Hits: 1 |
IFO_Hearing_Materials_March_2023.pdfrevenue proposals included in the Executive Budget, (4) publish performance-based budgeting reports for executive agencies, (5) publish tax credit review reports, (6) dynamic modeling and (7) at the request of members of the General Assembly, provide economic, revenue or fiscal Hits: 1 |
IFO_Hearing_Materials_02_2024.pdfrevenue proposals included in the Executive Budget, (4) publish performance-based budgeting reports for executive agencies, (5) publish tax credit review reports, (6) dynamic modeling and (7) at the request of members of the General Assembly, provide economic, revenue or fiscal Hits: 1 |
IFO-Presentation-11-14-2019.pdfof session November 14, 2019 2 Economic Development and Business Taxation 30 states perform some form of annual tax credit review PA is one of 16 “leading” states (Pew, Aug 2019) Since 2008, states make fundamental changes to business taxes Hits: 1 |
House Appropriation Response Letter 2-28-2020.pdfat the recent budget hearing for the Independent Fiscal Office (IFO). Representative Grove requested an estimated breakdown of the IFO reviewed wage contracts by department. Please see the attached table. Representative Brown requested property tax burden by county. This project has Hits: 1 |
Five_Year_Outlook_2021.pdfand death rates, labor force participa- tion, remote working, consumer spending patterns and employee productivity. This section provides a brief review of those changes and how they impact the state economy. Table 3.1 displays the economic forecast used for this Hits: 1 |
EPLC_April_2024.pdfestimates | Economic & demographic trends • Economic analysis of executive revenue proposals • 5-Year Economic & Budget Outlook • Performance-based budgeting | Tax credit reviews • Pension analysis | Dynamic modeling | Economic impact • Analyze impact of collective bargaining agreements Special Studies and Legislative Requests • Property tax reform Hits: 1 |
EPLC_3_4_2022_update.pdfpartisan Duties span a wide range of issues: ▪ Revenue estimates (how much revenues are available?) ▪ Performance based budgeting | Tax credit reviews ▪ Special Studies: property tax reform, natural gas, minimum wage March 4, 2022 2 Today’s Presentation: Three Parts State demographics Hits: 1 |
EPLC-2-19-21.pdfpartisan Duties span a wide range of issues: ▪ Revenue estimates (how much revenues are available?) ▪ Performance based budgeting | Tax credit reviews ▪ Special Studies: property tax reform, natural gas, minimum wage February 19, 2021 2 Today’s Presentation: Three Parts State demographics Hits: 1 |
EPLC Feb 2020 FINAL.pdfspan a wide range of issues: Revenue estimates (how much revenues are available?) Performance based budgeting | Tax credit reviews Special Studies: property tax reform, natural gas, minimum wage February 28, 2020 2 Today’s Presentation: Three Parts State Hits: 1 |
Econ Summit Presentation Feb 28 2017.pdfautomatically (healthcare and retirement). • Forward looking investments may comprise a smaller share: education, infrastructure and capital formation. • Also consider regular review of tax credits and tax expenditures. February 28, 2017 15 February 28, 2017 16 Thank you. Presentation available at www Hits: 1 |
DOC_Performance_Measures_Final.pdfthe purpose of the DOC budget hearings. Based on that request, the office submits the attached report. The department has reviewed the data contained in the report and has supplied comments on certain trends and tabulations. Those comments are appended to Hits: 1 |
Demographics_Outlook_2022.pdfeconomic and revenue growth in the future. See the section titled Labor Force Trends and Projections for a more detailed review of LFPRs. The retiree cohort (age 65 to 79) increased 3.2% per annum from 2010 to 2020 and Hits: 1 |
Demographics_Outlook_2020.pdfresponsibilities include forecasting personal income tax revenues and lottery proceeds along with other projects related to tax credit reviews, performance-based budgeting and demographics. Questions regarding this report can be directed to kmaynard@ifo.state.pa.us. - This page intentionally left Hits: 1 |
Budget_Hearing_Testimony-Feb2014.pdfprovided background materials to the committee regarding the office, the economy and major General Fund revenue sources. I will not review that material in the limited time for opening remarks. Rather, I would like to summarize the IFO’s economic and Hits: 1 |
Budget_Hearing_Background-Feb2014.pdfin conjunction with the state budget. • Five-Year Economic and Budget Outlook. Due by November 15 each year. • Quarterly Revenue Review. Published after each quarter to compare the IFO’s revenue estimates to actual revenues. • Mid-Year Update. Published in January Hits: 1 |
BEFC_Survey_Results_FINAL.pdfcharters who are performing because they believe that charters are unnecessary. We ask that the 363 funding formula be reviewed so more taxpayer monies flow to charters, if one is available in their district. Sylvan Heights Science CS Sylvan Heights Science Hits: 1 |
2013 Appropriation Hearings Background Information.pdfpublishes monthly reports highlighting the latest economic releases and revenue trends. In addition, the office publishes a quarterly report that reviews the performance of its own revenue estimates. Special reports are prepared at various times throughout the year. All reports published Hits: 1 |
2001_hr266.pdfduties of the Commonwealth and school 22 employers that may result from instituting a DC plan. 23 (6) A national review of DC plan implementation in the 24 public sector from a structural standpoint including hybrid 25 structure solutions. 26 (7 Hits: 1 |
ReleasesOlder Newer Release Type • Revenue Estimates • Revenue & Economic Update • Performance Budgeting • Energy • Pension Analysis • Property Tax • Wage Contracts • Tax Credit Review • Economics and Other Archives Year: All 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 • May 2024 Hits: 1 |
About IFOjoined the IFO in 2017 and her primary responsibilities include forecasting revenues for several tax sources, leading tax credit program reviews, and working on monthly economic and revenue updates. Other responsibilities include managing the office website, social media platforms and media Hits: 1 |