PRINTER'S NO. 3454
No. 2443 Session of 2004
INTRODUCED BY MUSTIO, ARMSTRONG, BAKER, BALDWIN, BARD, BARRAR,
BOYD, BROWNE, BUNT, CAPPELLI, CAUSER, CRAHALLA, CREIGHTON,
DALEY, DALLY, DENLINGER, EGOLF, FAIRCHILD, FEESE, FORCIER,
GABIG, GEIST, GERGELY, GILLESPIE, GINGRICH, GOOD, HARPER,
HARRIS, HERSHEY, HUTCHINSON, KILLION, MAJOR, MARKOSEK,
MARSICO, McILHATTAN, McILHINNEY, McNAUGHTON, METCALFE,
MILLARD, R. MILLER, S. MILLER, PAYNE, PICKETT, REED,
REICHLEY, ROHRER, ROSS, RUBLEY, SAINATO, SCAVELLO, SCHRODER,
SEMMEL, SOLOBAY, STEIL, STERN, R. STEVENSON, T. STEVENSON,
E. Z. TAYLOR, TRUE, TURZAI, WATSON, WEBER AND WILT,
MARCH 16, 2004
REFERRED TO COMMITTEE ON FINANCE, MARCH 16, 2004
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, in capital stock franchise
11 tax, for imposition and for expiration.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Sections 602(h) and 607 of the act of March 4,
15 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971,
16 amended December 23, 2003 (P.L. , No.46), are amended to read:
17 Section 602. Imposition of Tax.--* * *
18 (h) The rate of tax for purposes of the capital stock and
1 franchise tax for taxable years beginning within the dates set
2 forth shall be as follows:
3 Taxable Year Regular Rate Surtax Total Rate
4 January 1, 1971, to
5 December 31, 1986 10 mills 0 10 mills
6 January 1, 1987, to
7 December 31, 1987 9 mills 0 9 mills
8 January 1, 1988, to
9 December 31, 1990 9.5 mills 0 9.5 mills
10 January 1, 1991, to
11 December 31, 1991 11 mills 2 mills 13 mills
12 January 1, 1992, to
13 December 31, 1997 11 mills 1.75 mills 12.75 mills
14 January 1, 1998, to
15 December 31, 1998 11 mills .99 mills 11.99 mills
16 January 1, 1999, to
17 December 31, 1999 10.99 mills 0 10.99 mills
18 January 1, 2000, to
19 December 31, 2000 8.99 mills 0 8.99 mills
20 January 1, 2001, to
21 December 31, 2001 7.49 mills 0 7.49 mills
22 [January 1, 2002, to
23 December 31, 2003 7.24 mills 0 7.24 mills
24 January 1, 2004, to
25 December 31, 2004 6.99 mills 0 6.99 mills
26 January 1, 2005, to
27 December 31, 2005 5.99 mills 0 5.99 mills
28 January 1, 2006, to
29 December 31, 2006 4.99 mills 0 4.99 mills
30 January 1, 2007, to
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1 December 31, 2007 3.99 mills 0 3.99 mills
2 January 1, 2008, to
3 December 31, 2008 2.99 mills 0 2.99 mills
4 January 1, 2009, to
5 December 31, 2009 1.99 mills 0 1.99 mills
6 January 1, 2010, to
7 December 31, 2010 .99 mills 0 .99 mills]
8 January 1, 2002, to
9 December 31, 2002 7.24 mills 0 7.24 mills
10 January 1, 2003, to
11 December 31, 2003 6.99 mills 0 6.99 mills
12 January 1, 2004, to
13 December 31, 2004 4.99 mills 0 4.99 mills
14 January 1, 2005, to
15 December 31, 2005 3.99 mills 0 3.99 mills
16 January 1, 2006, to
17 December 31, 2006 2.99 mills 0 2.99 mills
18 January 1, 2007, to
19 December 31, 2007 1.99 mills 0 1.99 mills
20 January 1, 2008, to
21 December 31, 2008 .99 mills 0 .99 mills
22 * * *
23 Section 607. Expiration.--This article shall expire for
24 taxable years beginning after December 31, [2010] 2008.
25 Section 2. The amendment of sections 602(h) and 607 of the
26 act shall be retroactive to December 23, 2003.
27 Section 3. This act shall take effect immediately.
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