IFO Releases
April 2021 Economic Update
April 28, 2021 | Revenue & Economic Update
The April edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
PBB Overview Presentation for PSP and DMVA
April 28, 2021 | Performance Budgeting
IFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania State Police and the Department of Military and Veterans Affairs is posted on the website.
Tags: budgeting, performance
PBB Overview Presentation for PennDOT and DHS (Part 2)
April 27, 2021 | Performance Budgeting
IFO presentation of Performance-Based Budget overview and agency highlights for the Department of Transportation and the Department of Human Services (Part 2).
Tags: budgeting, performance
NAP, REAP, EEEP, VGP and KSDZ Tax Credit Reviews
April 26, 2021 | Tax Credit Review
IFO 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.
Resource Enhancement and Protection Program Tax Credit
April 23, 2021 | Tax Credit Review
Act 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.
School Property Tax, Senior Spending and Tax Revenues
April 23, 2021 | Economics and Other
In response to a legislative request, the IFO transmitted a letter that updates previous analyses on state and local budget issues, including (1) the IFO school district property tax forecast, (2) potential revenue sources that could replace school district property taxes if eliminated, (3) state spending dedicated to seniors, (4) the share of certain tax revenues remitted by seniors, (5) tax treatment of retirement income by state and (6) migration patterns by age groups.
Entertainment Economic Enhancement Program Tax Credit
April 23, 2021 | Tax Credit Review
Act 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.
Neighborhood Assistance Program Tax Credit
April 23, 2021 | Tax Credit Review
Act 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.
Video Game Production Tax Credit
April 23, 2021 | Tax Credit Review
Act 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.
Analysis of Revenue Proposals in the 2021-22 Executive Budget
April 22, 2021 | Revenue Estimates
This report provides estimates for the revenue proposals contained in the 2021-22 Executive Budget released February 2021. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under 71 Pa.C.S. § 4104. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget."