A parallel resonance circuit is an electrical circuit that consists of a resistor, inductor, and capacitor connected in parallel, where the impedance of the circuit is minimized at a particular resonant frequency. At this frequency, the reactive power from the inductor and capacitor cancels out, resulting in maximum current flow through the circuit. This unique property makes parallel resonance circuits useful in applications such as tuning and filtering, where specific frequencies need to be emphasized or suppressed.