PRIOR PRINTER'S NO. 1744 PRINTER'S NO. 2353
No. 1483 Session of 1975
INTRODUCED BY MESSRS. BRUNNER, DeMEDIO, O'KEEFE AND MILLIRON, JUNE 16, 1975
AS AMENDED ON THIRD CONSIDERATION, HOUSE OF REPRESENTATIVES, OCTOBER 15, 1975
AN ACT 1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An 2 act relating to tax reform and State taxation by codifying 3 and enumerating certain subjects of taxation and imposing 4 taxes thereon; providing procedures for the payment, 5 collection, administration and enforcement thereof; providing 6 for tax credits in certain cases; conferring powers and 7 imposing duties upon the Department of Revenue, certain 8 employers, fiduciaries, individuals, persons, corporations 9 and other entities; prescribing crimes, offenses and 10 penalties," further providing for certain additions to tax 11 and increasing the interest rate. 12 The General Assembly of the Commonwealth of Pennsylvania 13 hereby enacts as follows: 14 Section 1. Subsection (c) of section 266, act of March 4, 15 1971 (P.L.6, No.2), known as the "Tax Reform Code of 1971," is 16 amended to read: 17 Section 266. Additions to Tax.--* * * 18 (c) Interest. If the department assesses a tax according to 19 subsection (a), (b), or (c) of section 231, there shall be added 20 to the amount of the deficiency interest at the rate of [one- 21 half of] THREE-FOURTHS OF one per cent per month for each month, <-- 22 or fraction thereof, from the date prescribed by subsection (a)
1 or (c) of section 222 of this article for the payment of the tax 2 to the date of notice of the assessment. 3 * * * C11L56RZ/19750H1483B2353 - 2 -