PRINTER'S NO. 1471
No. 1321 Session of 1981
INTRODUCED BY J. D. WILLIAMS, O'DONNELL, EVANS, BORSKI,
McINTYRE, PUCCIARELLI, OLIVER, WENGER, HALUSKA, COHEN,
RICHARDSON, HARPER, EMERSON, DeWEESE, WHITE AND RIEGER,
APRIL 27, 1981
REFERRED TO COMMITTEE ON BUSINESS AND COMMERCE, APRIL 27, 1981
AN ACT
1 Amending the act of November 30, 1965 (P.L.847, No.356),
2 entitled "An act relating to and regulating the business of
3 banking and the exercise by corporations of fiduciary powers;
4 affecting persons engaged in the business of banking and
5 corporations exercising fiduciary powers and affiliates of
6 such persons; affecting the shareholders of such persons and
7 the directors, trustees, officers, attorneys and employes of
8 such persons and of the affiliates of such persons; affecting
9 national banks located in the Commonwealth; affecting persons
10 dealing with persons engaged in the business of banking,
11 corporations exercising fiduciary powers and national banks;
12 conferring powers and imposing duties on the Banking Board,
13 on certain departments and officers of the Commonwealth and
14 on courts, prothonotaries, clerks and recorders of deeds;
15 providing penalties; and repealing certain acts and parts of
16 acts," removing restrictions prohibiting municipal taxation
17 of banks and bank property.
18 The General Assembly of the Commonwealth of Pennsylvania
19 hereby enacts as follows:
20 Section 1. The act of November 30, 1965 (P.L.847, No.356),
21 known as the "Banking Code of 1965," is amended by adding a
22 section to read:
23 Section 319. Taxation by Municipalities Not Prohibited
24 Notwithstanding the provisions of this or any law to the
1 contrary, any municipality may impose a business gross receipts
2 tax, mercantile license tax, net profits tax, business use or
3 occupancy tax or any other tax imposed on business entities, on
4 any bank or other institution subject to the provisions of this
5 act.
6 Section 2. This act shall take effect immediately.
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