Section 8721-L - Reports to General Assembly.(a) Annual report.--No later than the year after which tax credits are first awarded under this subarticle, and each October 1 thereafter, the department shall submit a report on the tax credit provided under this subarticle to the chairperson and minority chairperson of the Appropriations Committee of the Senate, the chairperson and minority chairperson of the Appropriations Committee of the House of Representatives, the chairperson and minority chairperson of the Finance Committee of the Senate and the chairperson and minority chairperson of the Finance Committee of the House of Representatives. The report must include the names of the qualified taxpayers utilizing the tax credit as of the date of the report and the amount of tax credits approved for, utilized by or sold or assigned by a qualified taxpayer.(b) Reconciliation report.--On May 1 of the year which is 10 years after the year in which tax credits are first awarded under this subarticle, the department shall submit to the Secretary of the Senate and the Chief Clerk of the House of Representatives a reconciliation report on the effectiveness of this subarticle. The report shall include, to the extent possible, the following information for the preceding 10 years: (1) The name and business address of all qualified taxpayers who have been granted tax credits under this subarticle.(2) The amount of tax credits granted to each qualified taxpayer.(3) The total number of jobs created by the qualified taxpayer, upstream company and downstream company and any companies that provide goods, utilities or other services that support the business operations of the qualified taxpayer, upstream company and downstream company. This paragraph includes the average annual salary and hourly wage information.(4) The amount of taxes paid under Article II by the qualified taxpayer, upstream company and downstream company and any companies that provide goods, utilities or other services that support the business operations of the qualified taxpayer, upstream company and downstream company.(5) The amount of taxes withheld from employees or paid by members, partners or shareholders of the pass-through entities under Article III of the qualified taxpayer, upstream company and downstream company and any companies that provide goods, utilities or other services that support the business operations of the qualified taxpayer, upstream company and downstream company.(6) The amount of taxes paid under Article IV by the qualified taxpayer, upstream company and downstream company and any companies that provide goods, utilities or other services that support the business operations of the qualified taxpayer, upstream company and downstream company.(7) The amount of taxes paid under Article XI by the qualified taxpayer, upstream company and downstream company and any companies that provide goods, utilities or other services that support the business operations of the qualified taxpayer, upstream company and downstream company.(8) The amount of any other State or local taxes paid by the qualified taxpayer, upstream company and downstream company and any companies that provide goods, utilities or other services that support the business operations of the qualified taxpayer, upstream company and downstream company.(9) Any other information pertaining to the economic impact of this subarticle on this Commonwealth.(c) Reduction.--If the reconciliation report issued under subsection (b) reveals that the total amount of the tax credits granted under this subarticle exceeds the total amount of tax revenue reported under subsection (b)(4), (5), (6), (7), (8) and (9), the report must include any recommendation for changes in the calculation of the credit.(d) Publication.--The reports required by this section shall be a public record as defined under section 102 of the act of February 14, 2008 ( P.L. 6, No.3), known as the Right-To-Know Law, and shall be available electronically on the publicly accessible Internet website of the department. The reports required under this section may not contain "confidential proprietary information" as defined in section 102 of the Right-To-Know Law.Amended by P.L. TBD 2022 No. 108, § 13, eff. 1/3/2023.Added by P.L. TBD 2020 No. 66, § 1.1, eff. 9/21/2020.