PRINTER'S NO. 2929
No. 2125 Session of 2005
INTRODUCED BY PAYNE, ARMSTRONG, BAKER, BELARDI, CALTAGIRONE,
CAPPELLI, CAWLEY, CREIGHTON, DENLINGER, FLEAGLE, GEIST,
GEORGE, GINGRICH, GOOD, GRELL, HARHAI, HENNESSEY, HERMAN,
HERSHEY, KAUFFMAN, KILLION, LEH, MACKERETH, MAITLAND, MANN,
MARKOSEK, McILHATTAN, METCALFE, MICOZZIE, PICKETT, PISTELLA,
REED, REICHLEY, SAYLOR, SCHRODER, SOLOBAY, TIGUE, TURZAI,
WALKO, WILT, YOUNGBLOOD AND ZUG, OCTOBER 25, 2005
REFERRED TO COMMITTEE ON HEALTH AND HUMAN SERVICES,
OCTOBER 25, 2005
AN ACT
1 Amending the act of July 14, 2005 (P.L.278, No.48), entitled "An
2 act authorizing the establishment and maintenance of health
3 savings accounts; providing for special tax provisions; and
4 imposing restrictions on health savings accounts," further
5 providing for special tax provisions by excluding from
6 personal income taxation any amounts deposited into a health
7 savings account.
8 The General Assembly of the Commonwealth of Pennsylvania
9 hereby enacts as follows:
10 Section 1. Section 4(a) of the act of July 14, 2005
11 (P.L.278, No.48), known as the Health Savings Account Act, is
12 amended to read:
13 Section 4. Special tax provisions.
14 (a) General rule.--The following shall be excluded from
15 taxation under Article III of the act of March 4, 1971 (P.L.6,
16 No.2), known as the Tax Reform Code of 1971:
17 (1) any amount deposited into or otherwise placed into a
1 health savings account;
2 (1.1) any income of a health savings account;
3 (2) any amount paid or distributed out of a health
4 savings account that is used exclusively to pay the qualified
5 medical expenses of the account beneficiary; and
6 (3) any amount paid or distributed out of a health
7 savings account that is used exclusively to reimburse an
8 account beneficiary for qualified medical expenses.
9 * * *
10 Section 2. This act shall take effect in 60 days.
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