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NAP, REAP, EEEP, VGP and KSDZ Tax Credit Reviews

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.

Tags: credit, eeep, ksdz, nap, reap, review, tax, vgp

NAP, REAP, EEEP, VGP and KSDZ Tax Credit reviews

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.

04/26/2021

Resource Enhancement and Protection Program Tax Credit

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. IFO Letter to the SCC

04/23/2021

Entertainment Economic Enhancement Program Tax Credit

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.

04/23/2021

Keystone Special Development Zone Tax Credit

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 Keystone Special Development Zone Tax Credit Report.

04/23/2021

Neighborhood Assistance Program Tax Credit

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.

04/23/2021

Video Game Production Tax Credit

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.

04/23/2021

Department of Human Services - Part 2

Act 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).

04/21/2021

Department of Military and Veterans Affairs

Act 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.

04/21/2021

Department of Transportation

Act 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.

04/21/2021

Pennsylvania State Police

Act 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.

04/21/2021

OBMD, MTBI, R&D, and KIZ Tax Credit reviews and PBB Overview for DCED, DOH and DHS

IFO 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 2

The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings.

01/21/2020

Department of Human Services - Part 1

Act 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 Development

Act 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 Credit

Act 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 Credit

Act 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 Health

Act 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

Mobile Telecommunications Broadband Investment Tax Credit

Act 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 Credit

Act 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

Pennsylvania Emergency Management Agency

Act 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 State

Act 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 Protection

Act 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

Performance-Based Budget Board Hearings Agenda- Revised

The IFO has posted a revised agenda for the upcoming performance-based budget and tax credit review hearings.

01/22/2019

Performance-Based Budget reviews

Click on the hyperlink above to access the five performance-based budget reviews and presentations.

01/18/2019

Tax Credit reviews

Click on the hyperlink above to access the (1) Film Production Tax Credit, (2) Historic Preservation Tax Credit, (3) New Jobs Tax Credit and (4) summary PowerPoint presentation.

01/18/2019

Performance-Based Budget Board Hearings Agenda

The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings.

01/16/2019

Performance-Based Budget Board Hearings Schedule

The IFO has posted the schedule for upcoming performance-based budget and tax credit review hearings.

12/14/2018

PA Fiscal Update and Outlook

Director 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 Schedule

The 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 Corrections

In 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 Q3

The 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 Q2

The 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 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

Quarterly Revenue review 2017 Q1

The 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 Q4

The 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 Q3

The 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 Comparison

This 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

TC_2020_Research and Development Tax Credit.pdf

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 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

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TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

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 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

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TC_2019_Historic_Preservation_Tax_Credit_Report.pdf

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 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

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TC_2021_Resource_Enhancement_and_Protection.pdf

and 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

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Independent Fiscal Office

Independent Fiscal Office Revenue Estimates Revenue & Economic Update Performance Budgeting Natural Gas Pension Analysis Property Tax Wage Contracts Tax Credit Review News Stand & Other Featured Releases September 2021 Economic Update Revenue & Economic Update September 16, 2021 The September edition of our of Transportation and the Department of Human Services (Part 2). ... (Full Report) NAP, REAP, EEEP, VGP and KSDZ Tax Credit Reviews Tax Credit Review April 26, 2021 IFO presentation of the Neighborhood Assistance Program, Resource Enhancement and Protection Program, Entertainment Economic

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TC_2021_Neighborhood_Assistance_Program.pdf

and 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.pdf

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 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

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PBB_2019_DGS_Report.pdf

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 report contains

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TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf

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 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.pdf

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 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

TC_2021_Entertainment_Economic_Enhancement_Program.pdf

and 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

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TC_2021_Video_Game_Production.pdf

and 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.pdf

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 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

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PBB_2019_DOBS_Report.pdf

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 report contains

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TC_2021_Keystone_Special_Development_Zones.pdf

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: 33

PBB_2019_JCJC_Report.pdf

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 report contains

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PBB_2019_Criminal_Justice_Report.pdf

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 report contains

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2007_divestment_complete_report.pdf

systems 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

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PBB_2020_DOS_REPORT.pdf

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 report contains

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

percentage 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

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ACN_SB1071_A10803_text.pdf

by 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

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PBB_2019_PCCD_Report.pdf

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 report contains

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PBB_2021_PennDOT_REPORT.pdf

Members 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

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PBB_2020_DOH_REPORT_Final_Update.pdf

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 report contains

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PBB_2020_DHS_REPORT_Final_Updated.pdf

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 the purposes

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PBB_2020_DEP_Report.pdf

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 report contains

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PBB_2021_DHS_REPORT.pdf

Members 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

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PBB_2020_PEMA_REPORT.pdf

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 report contains

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PBB_2020_DCED_REPORT.pdf

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 report contains

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PBB_2021_PSP_REPORT.pdf

Members 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

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Single-Use Plastics Report-2020_06.pdf

to 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

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PBB_2021_DMVA_REPORT.pdf

Members 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

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2006_surviving_spouse_healthcare_study.pdf

proposed 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

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IFO_Hearing_Packet_Feb2019.pdf

2019-20 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

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2020 PBB Agenda.pdf

Designees 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

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

prevent 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

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2002_dbdc_report.pdf

study 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

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Economic_and_Revenue_Update_2020.pdf

2020-21 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

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2000_cost_of_living_adjustments.pdf

the 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

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Revenue-Proposal-Analysis-2019-03.pdf

reporting 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

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IFO_Hearing_Packet_Feb2018.pdf

proposal. 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

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2004_srpvffinal.pdf

plan 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

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TaxCredit and PBB Overview- 2019-01-24.pptx

Tax 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

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Revenue_Proposal_Analysis_2021_04.pdf

found 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

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Presentation-2018-10-Performance-Based-Budget-Board.pdf

IFO 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

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PBB-Board-Hearing-Agenda-January 2019-Revised.pdf

Independent 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

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PBB Board Hearing Agenda- January 2019.pdf

Independent 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

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HAC testimony Feb 2019.pdf

like 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

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TaxCredit and PBB Overview- 2019-01-24.pdf

Tax 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? 

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QRR_2015Q2.pdf

April 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

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IFO_Hearing_8-30-2017.pdf

the 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

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Revenue-Proposal-Analysis-2020-04.pdf

compared 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

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QRR_2016Q1.pdf

January 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

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QRR_2015Q4.pdf

October 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

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QRR_2015Q3.pdf

July 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

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QRR_2015Q1.pdf

January 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

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QRR_2014Q4.pdf

October 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

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QRR_2014Q2.pdf

April 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

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QRR_2013Q4.pdf

October 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

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

Benefit 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

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PBB-Board Hearing Jan 23 2020.pptx

Tax 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

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QRR_2013Q3.pdf

July 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

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Response-Letter-2-27-2020.pdf

many 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

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PBB_Board_Hearing_Apr_26_2021.pdf

Tax 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

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PBB-Overview-2019-01-22.pdf

agency 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

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Economic_and_Revenue_Update_2021.pdf

Proposal: 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

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CNIT-Rate-Cut-2018-04.pdf

99 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

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Budget_Hearing_Background_Feb2016.pdf

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 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

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Budget Hearings Packet.pdf

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 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

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Budget Hearings Packet- Web Version.pdf

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 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

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Revenue-Estimate-2020-05.pdf

for 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

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RB_2020_12_PPP_Loans_to_PA_Businesses.pdf

from 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

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RB-10-2020-Economic_Development_Incentives.pdf

the 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

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RB 2019 RACP.pdf

2.8 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

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IFO - Economic and Budget Outlook - January 2012.pdf

11.6 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

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House_Appropriation_Response_Letter_3_17_2021.pdf

legalized 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

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Five_Year_Outlook_2017_Presentation.pdf

Benefit 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

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About IFO

Primary responsibilities at the IFO include forecasting revenues from personal income taxes along with other projects related to tax credit reviews, performance-based budgeting and demographics. Ms. Miller holds a B.S. in Public Policy with a minor in Applied Economics Primary responsibilities at the IFO include forecasting revenues for various tax sources and working on projects relating to tax credit reviews and performance-based budgeting. Kara Hale Office Manager Holds a B.S. from Penn State University in Applied Behavioral Science

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SUT Exemption for Aircraft - January 2013.pdf

the 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

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SD-Property-Tax-Forecast-2020.pdf

obligations, 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

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SD-Property-Tax-Forecast-2019.pdf

obligations, 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

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Revenue_Estimate_2021_05.pdf

19 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

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Revenue-Proposal-Analysis-2018-04.pdf

severance 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

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Revenue-Estimate-2019-05.pdf

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 funds authority

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RB_2021_01_Economic_Impact_of_Federal_Stimulus.pdf

on 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

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RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdf

on 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

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RB-2018-01.pdf

obligations, 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

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QRR_2017Q3.pdf

Page 1 QUARTERLY REVENUE REVIEW JULY TO SEPTEMBER Fiscal Year 2017-18 Each fiscal year, the Independent Fiscal Office (IFO) publishes monthly breakdowns of its

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QRR_2017Q2.pdf

Page 1 QUARTERLY REVENUE REVIEW APRIL TO JUNE Fiscal Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates

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QRR_2017Q1.pdf

INDEPENDENT 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

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QRR_2016Q4.pdf

INDEPENDENT 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

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QRR_2016Q3.pdf

INDEPENDENT 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

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QRR_2015Q3_preliminary.pdf

Fund 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

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PSCOA Wage Contract Analysis- 2020.pdf

achieved 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

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PSBA Webinar - IFO - Act5_Actuarial.pdf

will 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

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Presentation-Initial-Revenue-Estimate-2018-05.pdf

Official (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

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PEW_Presentation(Video).pptx

committees • 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

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PEW_Presentation(Video).ppsx

committees • 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

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PBB-Tax-Credits-Schedule-2019-05.pdf

Performance-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

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PBB-Board-Hearings-Schedule-2019.pdf

M. - 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

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PBB-Board-Hearing-Jan-22-2020.pdf

based 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

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PA_Turnpike_Toll_Projections_May_31_2013.pdf

by 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

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Official-Revenue-Estimate-2019-06.pdf

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 funds authority

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Official-Revenue-Estimate-2018-06.pdf

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 funds authority

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NFIB_Presentation.pdf

Five-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

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NAP-2018-03.pdf

48-1994). 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

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MTR-2019-06.pdf

index; 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

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MTR-2019-05.pdf

index; 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

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MTR-2019-04.pdf

index; 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

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MTR-2019-03.pdf

index; 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

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MTR-2019-02.pdf

index; 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

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MTR-2019-01.pdf

index; 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

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MTR-2018-12.pdf

index; 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

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MTR-2018-11.pdf

index; 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

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MTR-2018-10.pdf

index; 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

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MTR-2018-09.pdf

index; 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

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MTR-2018-07.pdf

index; 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

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MTR-2018-06.pdf

index; 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

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MTR-2018-05.pdf

index; 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

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Monthly_Economic_Update_February_2021.pdf

WSJ 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

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MER-2014-09.pdf

has 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

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June_Revenue_Estimate_2021.pdf

19 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-Revenue-Estimate-2018-05.pdf

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 funds authority

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IFO_Revenue_Estimate_2013-14_Mid-Year_Update.pdf

Governor 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

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IFO-Presentation-11-14-2019.pdf

of 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

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House Appropriation Response Letter 2-28-2020.pdf

at 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

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EPLC-2-19-21.pdf

partisan 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

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EPLC Feb 2020 FINAL.pdf

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 28, 2020 2 Today’s Presentation: Three Parts State

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Econ Summit Presentation Feb 28 2017.pdf

automatically (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

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DOC_Performance_Measures_Final.pdf

the 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

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Demographics_Outlook_2020.pdf

responsibilities 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

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Budget_Hearing_Testimony-Feb2014.pdf

provided 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

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Budget_Hearing_Background-Feb2014.pdf

in 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

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2013 Appropriation Hearings Background Information.pdf

publishes 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

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2001_hr266.pdf

duties 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

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Releases

Newer Release Type • Revenue Estimates • Revenue & Economic Update • Performance Budgeting • Natural Gas • Pension Analysis • Property Tax • Wage Contracts • Tax Credit Review • News Stand & Other Archives Year: All 2021 2020 2019 2018 2017 2016 2015 2014 2013 • September 2021 • August 2021 • July

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