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Testimony on Minimum Wage

Director Matt Knittel made a brief presentation to the House Commerce Committee on the proposal to raise the minimum wage. The hearing was originally scheduled for February 16, 2021 but was rescheduled to March 11, 2021.

Tags: minimum, wage

Economic Impact of Federal Stimulus

This research brief examines the impact of certain federal stimulus programs enacted in response to the COVID-19 pandemic on Pennsylvania residents and the economy. It estimates the total amount of federal stimulus provided directly to individuals by income group and considers the impact on employment, output, and whether the infusion of federal monies into the state economy is conducive to raising the state minimum wage.

05/10/2021

Testimony on minimum Wage

Director Matt Knittel made a brief presentation to the House Commerce Committee on the proposal to raise the minimum wage. The hearing was originally scheduled for February 16, 2021 but was rescheduled to March 11, 2021.

03/11/2021

Budget Hearings Packet for Appropriations Committees

The Independent Fiscal Office submitted materials to the House and Senate Appropriations Committees ahead of its scheduled budget hearings. This packet examines the minimum wage, personal and corporate income tax and other proposals included in the FY 2021-22 Executive Budget.

03/04/2021

minimum Wage Increase Estimates

In response to a legislative request, the IFO transmitted a letter that expands upon a prior analysis on the impact of a proposed minimum wage increase.

10/10/2019

PA Economy League Presentation

In partnership with the Pennsylvania Economy League, Director Matthew Knittel and Deputy Director Brenda Warburton will make multiple presentations on raising the state minimum wage to $12.00 per hour. The presentation examines the proposed minimum wage’s impact on employment, worker incomes, prices and state spending.

05/01/2019

Savings and Costs of a $12/hour minimum Wage on DHS-administered Programs

In 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

Raising the minimum Wage in Pennsylvania

This research brief presents an analysis of the potential impact of the proposal to 1) raise the Pennsylvania state minimum wage from $7.25 to $10.10 and 2) automatically adjust future minimum wage levels to offset inflation.

11/30/2015

Revenue-Proposal-Analysis-2019-03.pdf

Tax ............................................................................................................... 3 Sales and Use Tax ........................................................................................................................... 8 Personal Income Tax ....................................................................................................................... 9 Resource Enhancement Tax Credit ................................................................................................... 9 Raising the Minimum Wage .................................................................................................... 11 Minimum Wage Across States ........................................................................................................ 12 Recent Minimum Wage Studies ...................................................................................................... 14 Workers Affected by a $12 per Hour Minimum Wage ....................................................................... 19 Businesses Affected by

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Revenue-Proposal-Analysis-2020-04.pdf

3 Sales and Use Tax ......................................................................................................................... 14 Cigarette Tax ................................................................................................................................ 14 Personal Income Tax ..................................................................................................................... 15 Gaming Taxes ............................................................................................................................... 15 Raising the Minimum Wage .................................................................................................... 17 Minimum Wage Across States ........................................................................................................ 18 Recent Minimum Wage Studies ...................................................................................................... 20 Border County Comparison ............................................................................................................ 23 Workers Affected by a $12 per Hour Minimum Wage

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Revenue_Proposal_Analysis_2021_04.pdf

Simulation Results ........................................................................................................................ 20 Average Effective Tax Rates on Income Sources ............................................................................ 22 Impact on State Migration .............................................................................................................. 22 Summary ...................................................................................................................................... 24 Raising the Minimum Wage .................................................................................................... 25 Proposal Highlights ....................................................................................................................... 25 Raising the Minimum Wage ........................................................................................................... 26 Minimum Wage Across States ....................................................................................................... 26 Recent Minimum Wage Studies ..................................................................................................... 28 Workers Affected by a $12 per Hour Minimum

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Revenue-Proposal-Analysis-2018-04.pdf

1 Tax and Revenue Proposals ......................................................................................... 3 Corporate Net Income Tax ........................................................................................ 3 Natural Gas Severance Tax ....................................................................................... 7 Raising the Minimum Wage ....................................................................................... 15 Minimum Wage Across States ................................................................................. 16 Workers Directly Affected by a Higher Minimum Wage ........................................... 19 Potential Employment Impact of a Higher Minimum Wage ...................................... 22

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2007_divestment_complete_report.pdf

report. UNRESOLVED LEGAL AND CONSTITUTIONAL QUESTIONS Divestment raises numerous legal issues that, left unresolved, could expose the funds to, at minimum, litigation costs and, at worst, adverse court rulings holding board and staff members personally liable for losses. House Bill Number of divestment, reinvestment or 4 any subsequent ongoing investment authorized by this section 5 shall be strictly limited to the minimum steps necessary to 6 avoid the contingency set forth in subsection (a). 7 (c) Report.--For any cessation of divestment

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RB-2015-04.pdf

Independent Fiscal Of Ðice November 2015 1 Research Brief 2015‐4 November 2015 Raising the Minimum Wage in Pennsylvania The FY 2015‐16 Executive Budget includes a proposal that (1) increases the state minimum wage from $7.25 to $10.10 and (2) automatically adjusts future minimum wage levels to offset in Ðlation. This

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Public Employee Retirement Laws of PA Local Governments (2009).pdf

incorporated town, township, municipal authority, and council of governments. This act requires actuarial reporting by municipal retirement systems, establishes a minimum funding standard for every municipal pension plan, provides for the annual allocation of General Municipal Pension System State Aid, and sufficient to amortize the unfunded actuarial accrued liabilities of the plans by the target dates established under the act. The minimum funding standard for a municipal retirement system is specified in chapter 3 of the act. Section 302 (53 P.S

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RB_2021_01_Economic_Impact_of_Federal_Stimulus.pdf

the state economy, when combined with temporary labor market conditions attributable to the pandemic, is conducive to raising the state minimum wage from its current level of $7.25 per hour. 1 Stimulus Overview Since March 2020, at least four pieces March 2021, Congress made substantial changes to the Child Tax Credit for TY 2021. Changes include the elimination of the minimum income threshold to qualify for the credit, uncapping the refundable portion of the tax credit, expanding the ages of children

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Presentation-2019-5-1-PAEL.pdf

Raising the Minimum Wage to $12.00 Presentation for the PA Economy League Matthew Knittel, Director Independent Fiscal Office May 1, 2019 The ambulatory care, hospitals and nursing/residential care facilities. Source: U.S. Bureau of Labor Statistics, State and Area Employment. The Minimum Wage Proposal Increase minimum wage from $7.25 to $12.00/hr (+65.5%).  Note: average wage for workers

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TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf

to, or provide a greater incentive for, equip- ment that is deployed in unserved/underserved areas and meets minimum speed requirements. The impact of these broadband incentives can be measured in two parts: (1) the impact of the new or expanded provide a greater incentive for, equip- ment that (1) is deployed in unserved/underserved areas and (2) meets minimum speed require- ments.  Projects in unserved/underserved areas tend to be higher cost and offer lower return on the capital investment

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IFO_Testimony_Min_Wage_Feb_16_2021.pdf

Hearing on Impact of Minimum Wage Increase in Pennsylvania House Commerce Committee February 16, 2021 Matthew Knittel | Director | Independent Fiscal Office Good morning Chairman Roae were disproportionately impacted. Those workers were employed in the retail trade and food service sectors.  The fourth table shows minimum wage rates across states for the current year and two subsequent years.  The fifth table displays the state wage

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Economic_and_Revenue_Update_2021.pdf

Burden: Average Tax Rate and Rank ........................................ 17 SERS and PSERS Financial Data ............................................................................. 18 Tax Credit and Economic Development Incentives ................................................... 19 Minimum Wage Rates by State .............................................................................. 21 PA Worker Distribution by Hourly Wage Rates ......................................................... 22 PIT Revenue Proposal: Impact on Different Filers but is not included because it does not take effect until Jan. 1, 2024. Independent Fiscal Office 21 March 2021 Minimum Wage Rates by State 2021 Rank 2021 2022 2023 Washington D.C. 1 $15.00 $15.30 $15.60 California

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

Act 120, normal retirement age for most new members of PSERS and SERS was increased to age 65 with a minimum of three years of Ron Snell, State Pension Reform, 2009-11, National Conference of State Legislatures, March 2012. Also, Ron or 8 years of service 50% of monthly aver- age pay during final 4 years of service 8 years and minimum age of 40 4% of pay Second Class A City Code (Scranton Police Officers Age 55 and 25 years of

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2000_cost_of_living_adjustments.pdf

a formula to produce a flat dollar amount related to service, years on retirement, or both; a guarantee of a minimum pension benefit level; or a recalculation of pension benefits on the basis of the provisions of a subsequently granted benefit they are disbursed, or "pay-as-you- go financing," avoids negative cash flow from the retirement system and represents a minimum funding requirement for any postretirement adjustment. Under pay-as-you-go financing, the contributions needed to fund the liability created

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

employee contribution and benefit accrual rates exclude optional buy-up. Superannuation for Class T-H is age 67 with a minimum of 3 years of service credit (rule of 97 does not apply to this class).  Employees contribute a total A-5 and A-6), the age for superannua- tion, or unreduced retirement benefits, is (1) age 67 with a minimum of three years of service credit or (2) any combination of age and service that totals 97 with a minimum

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TC_2021_Entertainment_Economic_Enhancement_Program.pdf

and have the equipment delivered to a location in Pennsylvania, (2) re- hearse at a qualified rehearsal facility for a minimum of 10 days and (3) perform at least one concert at a Class 1 venue and at least one additional states impose an annual cap, and Georgia has the highest cap at $15.0 million. New York requires that a minimum of eight shows are performed at three or more locations, similar to the venue specifications for the EEEP Tax Credit

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Economic_and_Revenue_Update_2020.pdf

Price Trends ($/mmbtu) ................................................................................................... 22 SERS and PSERS Employer Contributions Rates and Funding Ratios ...................................... 23 SERS and PSERS Financial Data .............................................................................................................. 24 Minimum Wage Rates by State ............................................................................................................. 25 PA Workers Affected by a $12 Minimum Wage (2018) ................................................................ 26 States with Corporate Net Income Tax ............................................................................................... 27 Combined Reporting vs. Separate Reporting States ..................................................................... 28 PBB and Tax

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ACN_SB1071_A10803_text.pdf

single life annuity and no member may elect a payment option that would provide benefits that do not satisfy the minimum distribution requirements or would violate the incidental death benefit rules of IRC § 401(a)(9). In no event shall a for such purposes. (b) Required distributions.--All payments under this section shall start and be made in compliance with the minimum distribution requirements and incidental death benefit rules of IRC § 401(a)(9). The board shall take any action and make

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2004_srpvffinal.pdf

remarks) Complex benefit structure based upon a member’s entry age and a $12.50 per month member contribu- tion. Minimum benefit eligibility is age 60. Example: For a member who entered service at age 18 and retired at age 60 funding for the SRPVF would only be required in those years when the General Assembly determines that more than the minimum contribution is appropriate and fiscally feasible. In those instances, the additional funding for the SRPVF would be provided by the

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2002_drop_report.pdf

staff are outlined below: Entry Requirements. An active member is usually eligible to enter the DROP upon satisfaction of the minimum age and/or service requirements for a full, unreduced pension under the regular retirement system. Maximum Participation Period. Two to a State law that requires actuarial reporting on the funded condition of Pennsylvania’s local government pension plans, provides for minimum municipal funding requirements, creates a recovery plan for distressed municipal pension plans, and serves as the basis for the distribution

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Independent Fiscal Office

on employment, output, and whether the infusion of federal monies into the state economy is conducive to raising the state minimum wage. ... (Full Report) April 2021 Revenue Update Revenue & Economic Update May 03, 2021 The Commonwealth collected $3.96 billion in Knittel gave a presentation to CompetePA on the state budget, federal stimulus and various revenue proposals. ... (Full Report) Testimony on Minimum Wage News Stand & Other March 11, 2021 Director Matt Knittel made a brief presentation to the House Commerce Committee on

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

hourly wage (excluding benefits) for each newly-created job must be at least 150 percent of the Federal minimum wage (currently $7.25 per hour) which equals $10.88 per hour. The JCTC is one of 22 credits subject to review the credit offsets roughly 1.4 percent of the total cost. Alternatively, at 150 percent of the Federal minimum wage ($10.88 per hour) and 30 percent in benefit costs, or $29,400 per year, the credit offsets 3.4 percent

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PBB_2019_Criminal_Justice_Report.pdf

state prison of 24 months or less, this proposal would institute a presumptive release to parole at the minimum sentence. These inmates would be released to state parole supervision to achieve public safety outcomes at lower overall costs.  Improve the to assign each inmate to a prison based on the best opportunities to prepare for release within the minimum timeframe. At the local level, the SCI superintendent’s office makes executive decisions and works with the reentry office and institutional parole

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IFO_Hearing_Packet_Feb2019.pdf

18 Pension Systems Data ............................................................................................................... 20 Employer Contribution Rates for PSERS and SERS ...................................................... 21 Funded Ratios for PSERS and SERS .................................................................................... 22 Minimum Wage Rates by State ............................................................................................. 23 Corporate Net Income Tax by State .................................................................................... 24 Performance-Based Budgeting (PBB) and Tax Credit Schedule IFO) -1,670 Difference 1,680 Due to Available Revenues Gross revenues, refunds and lapses 210 Higher EB revenues from minimum wage -120 Sub-Total 90 Due to Funding Shifts Additional Lottery support for MA 92 Funding shift for DEP-DCNR-

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Senate Appropriations Response Letter 3-6-2020.pdf

detail on project awards by type of investment (Table 4A) and by county (Table 4B). Each table also lists the minimum private investment required from the applicant (the program requires a 15 percent match) and the minimum total investment (grant award + private investment). Project types were assigned by the IFO using the following categories as outlined in

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Response-Letter-10-7-2019.pdf

Cox: Thank you for your recent letter that requests the Independent Fiscal Office (IFO) to provide additional data on the minimum wage analysis included in the Analysis of Revenue Proposals published by the office in March 2019. Your letter requests additional Table 2.6 of the report. Your letter also inquires about reduced work hours and reduced benefits from a higher minimum wage. The attached table presents the gross figures (i.e., the gains prior to any losses) for the tabulations from

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IFO_Hearing_Packet_Feb2018.pdf

23 Change in Employer Contributions 24 Funded Ratios for PSERS and SERS 25 Miscellaneous Materials Property Tax Projections 26 State Minimum Wage Levels 27 State Corporate Tax Rates and Other Attributes 28 PBB and Tax Credit Review Schedule 29 Independent Fiscal properties that have not applied for the homestead exclusion. Source: IFO Research Brief January 2018-1. Estimate Forecast 26 State Minimum Wage Levels 2018 Rank 2018 2019 2020 Washington D.C. 1 $12.50 $13.25 $14.00 Washington 1 2

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Pensions

requirement equal to 9.3% of compensation. • Increased the superannuation requirements for most new members to age 65 with a minimum of three years of service credit, or any combination of age and service that totals 92 and at least 35 authorization for members of PSERS. Previously, members were required to qualify for membership in PSERS each year by working a minimum of 500 hours or 80 days annually. Under Act 120, any school employee who qualifies for membership will remain a

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PICPA_Presentation.pdf

methods to address.  Revenue proposals. Loans/enhancements. Efficiency gains.  Unclear what will be enacted.  Severance tax and minimum wage increase.  Gas prices recently recover. Will it last?  Minimum wage: higher incomes vs. lower employment. The Outlook in February 2017 June 7, 2017 16 2015-16 2016-17 2017-

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MSC_March_31_2021.pdf

strong  Down 441k jobs in February from prior year  Positives: housing market, sales tax revenues show strong growth Minimum wage, PIT changes and combined reporting/rate reduction  Minimum wage impact looks very different now than 2019  Combined reporting vs rate reduction: what is the trade off? March

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CompetePA_March_11_2021.pdf

Down 472k jobs in December from prior year  IFO projects six years needed to return to pre-pandemic level Minimum wage, PIT changes and combined reporting/rate reduction  Minimum wage impact looks very different now than 2019  Combined reporting vs rate reduction: what is the trade off? March

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Revenue-Estimate-2020-05.pdf

of gasoline and diesel fuel in the prior calendar year. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per gallon. For the 12-month period ending September 30, 2019, the Pennsylvania Department of Revenue determined the 1.90 per gallon. Therefore, the AWP used to calculate the 2020 OCFT rate remains at the statutory minimum of $2.99 per gallon. (No increase.)  The lingering effects of suppressed gasoline consumption related to COVID-19. 12 Most sources

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PBB_2021_DHS_REPORT_ADDENDUM.pdf

and Families (OCYF) regulates the degree and scope of children and youth services provided at the county-level by setting minimum standards for service delivery and administration. OCYF monitors county agencies to ensure compliance and reimburses counties for department-approved services Community ID/Autism Waivers | Page 40 State Benchmarks Persons with ID/Autism are Paid Roughly 20 Percent Above PA's Minimum Wage on Average 1 Source: National Core Indicators, In-Person Survey (2018-19). 1 Community jobs without publicly-funded supports

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Official-Revenue-Estimate-2020-06.pdf

of gasoline and diesel fuel in the prior calendar year. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per gallon. For the 12-month period ending Sep- tember 30, 2019, the Pennsylvania Department of Revenue determined 1.90 per gallon. Therefore, the AWP used to calculate the 2020 OCFT rate remains at the statutory minimum of $2.99 per gallon. (No increase.)  The lingering effects of suppressed motor fuel consumption related to COVID-19. Official Revenue

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HTAE_2019_05_15.pdf

7% 3.5% Note: Payroll jobs only. Data include full-and part-time jobs. Excludes self-employedand independent contractors. The Minimum Wage Proposal Increase minimum wage from $7.25 to $12.00/hr (+65.5%).  Note: average wage for workers earning <$12.00 is

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TC_2019_Film_Production_Tax_Credit_Report.pdf

expenses. Feature films and television productions are eligible for an additional 5 percent credit if the production meets minimum stage filming requirements at a qualified pro- duction facility and is intended for a national audience. 1 Qualified post-production expenses incurred is spent in the state. 4 Feature films and television productions intended for a national audience that meet minimum stage filming requirements at a qualified production facility may be eligible for an additional 5 percent credit. Qualified post-production expenses incurred

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Official_Revenue_Estimate_Methodology_2021.pdf

87 per gallon effective January 1, 2014, and $2.49 per gallon effective January 1, 2015. The AWP is a minimum of $2.99 per gallon effective January 1, 2017 (no cap). For the 12-month period ending September 30, 2020 48 per gallon. Therefore, the AWP used to calculate the 2021 oil company franchise tax (OCFT) rates was the statutory minimum of $2.99 per gallon and the tax rates are 45.9 cents per gallon for liquid fuels and 62

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Official-Revenue-Estimate-Methodology-2020-6.pdf

gallon effective January 1, 2014, and $2.49 per gallon effective January 1, 2015. The AWP is a minimum of $2.99 per gallon effective January 1, 2017 (no cap). For the 12-month period ending September 30, 2019, the Department gallon. Therefore, the AWP used to calculate the 2020 oil company franchise tax (OCFT) rates was the statutory minimum of $2.99 per gallon and the tax rates are 45.9 cents per gallon for liquid fuels and 62.4 cents

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Official-Revenue-Estimate-Methodology-2019-06.pdf

gallon effective January 1, 2014, and $2.49 per gallon effective January 1, 2015. The AWP is a minimum of $2.99 per gallon effective January 1, 2017 (no cap). For the 12-month period ending September 30, 2018, the Department be $2.04 per gallon. Therefore, the AWP used to calculate the 2019 OFT rates was the statutory minimum of $2.99 per gallon and the tax rates are 45.9 cents per gallon for liquid fuels and 62.4 cents

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IFO - Economic and Budget Outlook - January 2012.pdf

on Medicaid to plug gaps in their Medicare coverage. The federal government provides the majority of these funds and sets minimum standards for eligibility and benefits. However, states may elect to exceed the minimum standards if they wish. Data from the Kaiser Foundation show that national Medicaid enrollment has grown by nearly 8.8

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EPLC-2-19-21.pdf

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, economy and COVID impacts ▪ A contracting labor force PIT rate increase to 4.49% | Expand tax forgiveness ▪ $209 million – Combined reporting | CNIT rate reduction phase-in ▪ $116 million – Minimum wage increase ▪ $168 million – New municipal fee to fund state police services General Fund Education Funding Proposals ▪ $1.6 billion

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Pensions

30, 2004; 3) require that the revised report be used solely for the purposes of recalculating a municipality's 2004 Minimum Municipal Obligation and for calculating a municipality's 2005 Minimum Municipal Obligation to reflect the extended amortization period; and 4) preclude the revised actuarial valuation report from affecting the distribution

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TC_2021_Neighborhood_Assistance_Program.pdf

a five-year commitment, and credits worth up to 80 percent for a commitment of six or more years. The minimum annual contribution is $50,000 per business partner, and the project must have a minimum of $100,000 in partner commitments. (4) Charitable Food Program (CFP): Provides a tax credit of up to 55 percent

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TC_2019_Historic_Preservation_Tax_Credit_Report.pdf

have greatest potential to achieve the purpose and goals of the tax credit. Policymakers want to provide the minimum amount of tax credits necessary to incentivize the maximum number of projects that have the greatest potential to impact local communities. They full 15 percent credit. All projects should generally exceed the 5 percent threshold noted by stakeholders as the minimum required to truly incentivize projects. In this example, the 15 percent base credit rate was arbitrary. If the base credit rate had

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Single-Use Plastics Report-2020_06.pdf

is intended to be used more than once. Jurisdictions have various qualifications to be considered reusable, but the minimum thickness is gen- erally 2.25 mils. This thickness implies that the bags could be reused up to 125 times before exhaustion plus-fee model will charge 8 cents for bags under 2.25 mils in thickness. In 2026 the minimum thickness for plastic bags increases to 4.0 mils and the charge increases to 12 cents. Table 2.2 - Regulations on Plastic

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Revenue_Estimate_2021_05.pdf

ing: increase in value from $2,000 to $3,000 ($3,600 for children under age six), removal of the minimum income threshold and the credit is now fully refundable (previously only $1,400 was refundable). The maximum credit is available price (AWP) of gasoline and diesel fuel in the prior calendar year. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per gallon. For the 12-month period ending Sep- tember 30, 2020, the Pennsylvania Department of

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Revenue-Estimate-2019-05.pdf

annually based on the AWP of gasoline and diesel fuel. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per gallon. For the 12-month period ending Sep- tember 30, 2018, the Pennsylvania Department of Revenue determined 2.04 cents per gallon. Therefore, the AWP used to calculate the 2019 OFT rate is the statutory minimum $2.99 per gallon. Initial Revenue Estimate | Page 15 The Lottery Fund The initial revenue estimate projects that Lottery Fund net revenues

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RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdf

Gross Income above $400,000; previously $110,000) and created a new $500 credit for other dependents.  Increased alternative minimum tax (AMT) exemption phase-out thresholds. The impact of the TCJA on Pennsylvania federal income taxpayers will depend on income Tax Rate computations include refundable earned income tax credit (EITC) and child tax credit amounts, as well as the alternative minimum tax (AMT) and net investment tax (3.8 percent on certain investment income). 6 For the low income group, this

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PBB_2019_DGS_Report.pdf

FY 2016-17 and will continue to work with PSFEI and internal resources to track this metric at minimum, every other year.  DGS cleaning, repairs and maintenance cost per square foot as a percent of GSA costs. The percent of FY 2016-17 and will continue to work with PSFEI and internal resources to track this metric at minimum, every other year. 13-14 14-15 15-16 16-17 17-18 18-19 Average days to close a work order

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PASBO_March_17_2021.pdf

Labor and Industry and ECI is projected by IHS Markit with minor adjustments by the IFO. Assumes no change in minimum wage. March 17, 2021 Act 1 Index Components: Long-Term Perspective 4 0.5% 1.0% 1.5% 2.0% Labor and Industry and ECI is projected by IHS Markit with minor adjustments by the IFO. Assumes no change in minimum wage. March 17, 2021 moderate inflation strong jobs market Great Recession large ECI and SAWW disconnect another rare disconnect COVID-

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Official-Revenue-Estimate-2019-06.pdf

annually based on the AWP of gasoline and diesel fuel. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per gallon. For the 12-month period ending Sep- tember 30, 2018, the Pennsylvania Department of Revenue determined 2.04 cents per gallon. Therefore, the AWP used to calculate the 2019 OFT rate is the statutory minimum $2.99 per gallon. Official Revenue Estimate | Page 15 Amount Growth Amount Growth Total Motor License Fund $2,859 -3.0% $2

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Official-Revenue-Estimate-2018-06.pdf

is calculated annually based on the AWP of gasoline and diesel fuel. Beginning with calendar year 2017, the minimum AWP is set at $2.99 per gallon. For the 12-month period ending September 30, 2017, the Department of Revenue determined be $1.68 per gallon. Therefore, the AWP used to calculate the 2018 OFT rates was the statutory minimum of $2.99 per gallon. Official Revenue Estimate | Page 13 (OFT) component. Act 89 fee increases effective July 1, 2017 were determined

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NAP-2018-03.pdf

five-year commitment, and a credit of up to 80 percent for a commitment of six or more years. The minimum annual contribution is $50,000 per business and the project must have a minimum of $100,000 in commitments. Charitable Food Program (CFP) – Provides a tax credit of up to 55 percent of eligible

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June_Revenue_Estimate_2021.pdf

ing: increase in value from $2,000 to $3,000 ($3,600 for children under age six), removal of the minimum income threshold, and the credit is now fully refundable (previously only $1,400 was refundable). The maximum credit is available price (AWP) of gasoline and diesel fuel in the prior calendar year. Beginning with calendar year 2017 and thereafter, the minimum AWP is $2.99 per gallon. For the 12-month period ending Sep- tember 30, 2020, the Pennsylvania Department of

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Initial-Revenue-Estimate-2018-05.pdf

is calculated annually based on the AWP of gasoline and diesel fuel. Beginning with calendar year 2017, the minimum AWP is set at $2.99 per gallon. For the 12-month period ending September 30, 2017, the Department of Revenue determined be $1.68 per gallon. Therefore, the AWP used to calculate the 2018 OFT rates was the statutory minimum of $2.99 per gallon. Amount Growth Amount Growth Total Motor License Fund $2,958 7.2% $2,973 0.5% Liquid

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Five_Year_Outlook_2021.pdf

in the maximum amount from $2,000 to $3,000 ($3,600 for children under age six), removal of the minimum income threshold, and full refundability (previously only $1,400 was refundable). The IFO estimates that these changes increase the value depleted inventories and consumer demand cools in the absence of continued federal stimulus. A proposal to levy a new 15% minimum federal corporate income tax could impact CNIT liabilities in the near-term. Strong estimated (for TY 2021) and final (TY

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EPLC Feb 2020 FINAL.pdf

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 demographics and economy  Labor market still robust | consumers Executive Budget relies on policy options, funding shifts and one-time measures to close gap  Combined reporting ($240 million) | Minimum wage ($133 million)  State Police Fee ($136 million)  Unclear whether they will be enacted Various long-term demographic

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Witgert Nov 15, 2012.pdf

State Health Reform Assistance Network resources http://www.statenetwork.org/resources/ Big Decision #3: Essential Health Benefits 15 EHB Primer Minimum essential benefits 1. Ambulatory patient services 2. Emergency services 3. Hospitalization 4. Maternity and newborn care 5. Mental health and

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TC_2021_Keystone_Special_Development_Zones_Update.pdf

credit and the cost of remediation. Under current law, property developers receive the same potential benefit whether the site requires minimum or extensive remediation. Policymakers should evaluate the purpose of the KSDZ pro- gram (i.e., is the goal job creation

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Smetters_Presentation_Full.pdf

Effect 2018-2040 (billions of $) Tax Provision JCT PWBM PWBM Repeal and modifications to itemized deductions 668 459 496 Alternative Minimum Tax (AMT) changes -637 -317 -313 Reforms to certain deductions and credits 25 26 9 Reforms to certain individual tax

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SD_Property_Tax_Forecast_Nov_2021.pdf

the Public School Code of 1949. It is used in the calculation of various state subsidies for school districts. The minimum MV/PI AR is 0.1500. For FY 2020-21, 413 districts had an MV/PI AR of 0.4000

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SD-Property-Tax-Forecast-2020.pdf

1949. It is used in the calculation of various state subsidies for school districts, including the basic education subsidy. The minimum MV/PI AR is 0.1500. For FY 2019-20, 409 districts had an MV/PI AR of 0.4000

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SD-Property-Tax-Forecast-2019.pdf

1949. It is used in the calculation of various state subsidies for school districts, including the basic education subsidy. The minimum MV/PI AR is 0.1500. For FY 2017-18, 409 districts had an MV/PI AR of 0.4000

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RB-2018-01.pdf

1949. It is used in the calculation of various state subsidies for school districts, including the basic education subsidy. The minimum MV/PI AR is 0.1500. For FY 2017‐18, 409 districts had an MV/PI AR of 0.4000

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RB-2016-02.pdf

credits to businesses locat‐ ed in the area that create or maintain 500 jobs within three years or invest a minimum of $45 million in capital investment. Neighborhood Improvement Zone $29,947 $38,694 Established an area of 128 acres for

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RB 2019 Natural Gas Royalties.pdf

received from the sale of natural gas extracted from wells located on a landowner’s property. Pennsylvania law mandates a minimum royalty rate of 12.5 percent of the market value of the sale. 1 Some contracts allow firms to deduct

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PBB_2020_PEMA_REPORT.pdf

in exercises -- -- 620 700 475 700 # NIMS courses provided 2 -- -- 16 42 35 40 # PEMA FTEs trained to minimum NIMS requirements 2 1 10 94 104 122 146 # Plans developed or revised -- -- -- -- 17 18 # Citizens participating in CERT training 1,3

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PBB_2020_DHS_REPORT_Final_Updated.pdf

awarded approximately $717 million in federal TANF dollars. Funding requires a state Mainte- nance of Effort (MOE), a minimum spending-level of state funds for benefits and services or federal funding can be reduced in subsequent years. States have discretion regarding

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PBB_2020_DEP_Report.pdf

the highest in the nation. The desired outcome is that Pennsylvania’s residents will be exposed to the minimum amount of controllable radiation. This activity is primarily funded by fees collected for nuclear power plant surveillance and emergency re- sponse, radioactive

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PBB_2019_PCCD_Report.pdf

state prison of 24 months or less, this proposal would institute a presumptive release to parole at the minimum sentence. These inmates would be released to state parole supervision to achieve public safety outcomes at lower overall costs.  Improve the

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PBB-Board Hearing Jan 23 2020.pptx

wireless only ▪ Purpose: to expand availability and enhance quality ▪ No requirement to locate in underserved/unserved areas ▪ No requirement on minimum speeds 24 states have a broadband incentive ▪ But only 3 use tax credits | most use grants and allow wired investment

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NCSL_PA_IFO_11_15_21.pdf

Local Aid Provides $195.3 billion to states and the District of Columbia: o $25.5 billion to each state, minimum of $500 million. o $169 billion would be allocated based on the states’ share of unemployed workers over a three-

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MTR-2017-07.pdf

stronger weekly wage gains than higher-wage workers. 2 Some of those gains are due to the implementation of higher minimum wages in various states. For Pennsylvania, the latest data suggest that average wages grew at an annual rate of roughly

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MTR-2016-04.pdf

Report,” January 2016, and “Pennsylvania Q1-2016 Statewide Report,” March 2016. Data include residential single-family homes, townhouses, and condo- miniums. 2 National Association of Realtors, “Existing-Home Sales,” April 2016. Data include only single-family homes. Pennsylvania Home Sales Completed

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MQRE-FY19-20-Aug.pdf

must take place until no remaining Category 4 licenses remain or until there are no more bids. The minimum bid for each license is $7.5 million. An additional one-time nonrefundable authorization fee of $2.5 million is required for

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ITEP-Presentation-11-14-2019.pdf

Reporting” (preferably with worldwide reach on tax havens)  Disclosure/Clawbacks.  Three-factor apportionment factor  Economic nexus  Minimum tax Combined Reporting: The Basics  Combined reporting is one way of tackling a basic problem: what is the “company

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IFO_Hearing_8-30-2017.pdf

1: A01354 and A01558 (June 2017) • Official Revenue Estimate FY 2017-18 (June 2017) • Savings-Costs of a $12/hour Minimum Wage on DHS-Administered Programs (June 2017) • Impact Fee Update and 2017 Outlook (July 2017) • PLEA Wage Contract Analysis (July

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Demographics_Outlook_2020.pdf

budgeting projects, coordinating the forecast of department expenditures and working on special projects that pertain to education, demographics, minimum wage and other subjects as needed. Lesley Rompalo, Revenue Analyst II Ms. Rompalo joined the IFO in June 2016. Primary responsibilities include

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Budget_Hearing_Background_Feb2016.pdf

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 and Budget Outlook: Fiscal Years 2015‐

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2021-SD-Property-Tax-Forecast.pdf

1949. It is used in the calculation of various state subsidies for school districts, including the basic education subsidy. The minimum MV/PI AR is 0.1500. For FY 2020-21, 413 districts had an MV/PI AR of 0.4000

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2002_dbdc_report.pdf

highly compensated or long-service employees will differ depending on factors such as age, plan design, and actuarial assumptions. -46- Minimum Required Distributions – Rules for making required distributions upon retirement differ significantly for a DC plan as compared with a DB

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About IFO

performance-based budgeting projects, coordinating the forecasting of various department expenditures and working on special projects pertaining to education, demographics, minimum wage and other subjects as needed. Ms. Maynard also previously forecasted personal income tax revenues. Prior to working at the

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