act that embraces "nothing but appropriations." While actual
items of appropriation can be contained in a General
Appropriation Act, the achievement and implementation of a
comprehensive budget involves more than subjects of
appropriations and dollar amounts. Ultimately, the budget has
to be balanced under section 13 of Article VIII of the
Constitution of Pennsylvania. This may necessitate changes to
sources of funding and enactment of statutes to achieve full
compliance with these constitutional provisions.
(6) For the reasons set forth in paragraphs (1), (2),
(3), (4) and (5), it is the intent of the General Assembly
through this act to provide for the implementation of the
2020-2021 Commonwealth budget.
(7) Every provision of this act relates to the
implementation of the operating budget of the Commonwealth
for this fiscal year, addressing in various ways the fiscal
operations, revenues and potential liabilities of the
Commonwealth. To that end, this act is intended to implement
the 2020-2021 Commonwealth budget without specifically
appropriating public money from the General Fund. This act
provides accountability for spending and makes transfers or
other changes necessary to impact the availability of revenue
in order to meet the requirements of section 13 of Article
VIII of the Constitution of Pennsylvania and to implement the
act of (P.L. , No. ), known as the General
Appropriation Act of 2020.
Section 2. Section 707 of the act of April 9, 1929 (P.L.343,
No.176), known as The Fiscal Code, is repealed:
[Section 707. Capital Stock and Franchise Tax Reports and
Payment of Tax.--Except in the case of corporations of the first
class, and cooperative agricultural associations not having
capital stock and not conducted for profit, banks, savings
institutions, title insurance or trust companies, building and
loan associations, and foreign insurance companies, every
corporation, joint-stock association, limited partnership, and
other company, liable to pay to the Commonwealth a capital stock
tax upon the value of all or a part of its capital stock, or a
franchise tax with respect to its capital or property employed
or used in this Commonwealth, shall make, annually, a capital
stock report to the Department of Revenue, on or before the
fifteenth day of April, for the calendar year next preceding.
With such report, shall be filed any statement necessary to
enable the Department of Revenue to determine the amount of any
deduction or exemption to which any such taxpayer is entitled.
Every corporation, joint-stock association, limited partnership,
and other company, at the time of making every report required
by this section, shall compute and pay to the department the
capital stock tax or franchise tax, as the case may be, due to
the Commonwealth upon or with respect to the value of its
capital stock.]
Section 2.1. The act is amended by adding a section to read:
2020/90AJM/HB1083A05977 - 3 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51