PRINTER'S NO.  127

  

THE GENERAL ASSEMBLY OF PENNSYLVANIA

  

HOUSE BILL

 

No.

185

Session of

2011

  

  

INTRODUCED BY GODSHALL, MICOZZIE, BAKER, BOYD, CALTAGIRONE, D. COSTA, CUTLER, ELLIS, EVERETT, FLECK, GEIST, GIBBONS, GINGRICH, GROVE, HARPER, HESS, HUTCHINSON, KAUFFMAN, KULA, MILLER, MURPHY, MURT, PETRI, PICKETT, READSHAW, REICHLEY, ROCK, SCHRODER, K. SMITH, STABACK AND VULAKOVICH, JANUARY 24, 2011

  

  

REFERRED TO COMMITTEE ON FINANCE, JANUARY 24, 2011  

  

  

  

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," providing for a personal income tax credit for

11

long-term care premiums paid by individuals; and imposing

12

duties on the Secretary of the Commonwealth and the

13

Legislative Reference Bureau.

14

The General Assembly of the Commonwealth of Pennsylvania

15

hereby enacts as follows:

16

Section 1.  Section 301 of the act of March 4, 1971 (P.L.6,

17

No.2), known as the Tax Reform Code of 1971, is amended by

18

adding a clause to read:

19

Section 301.  Definitions.--Any reference in this article to

20

the Internal Revenue Code of 1986 shall mean the Internal

21

Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 1 et seq.),

 


1

as amended to January 1, 1997, unless the reference contains the

2

phrase "as amended" and refers to no other date, in which case

3

the reference shall be to the Internal Revenue Code of 1986 as

4

it exists as of the time of application of this article. The

5

following words, terms and phrases when used in this article

6

shall have the meaning ascribed to them in this section except

7

where the context clearly indicates a different meaning:

8

* * *

9

(l.3)  "Long-term care policy" means a policy for long-term

10

care insurance as those terms are defined in section 1103 of the

11

act of May 17, 1921 (P.L.682, No.284), known as "The Insurance

12

Company Law of 1921."

13

* * *

14

Section 2.  The act is amended by adding a section to read:

15

Section 314.1.  Long-Term Care Policy Premiums.--(a)  A

16

resident taxpayer shall be allowed a credit against the tax

17

imposed by this article in an amount equal to the lesser of

18

twenty per cent of any premiums paid during the taxable year by

19

the taxpayer for a long-term care policy for the taxpayer, the

20

taxpayer's spouse, or both, or five hundred dollars ($500).

21

(b)  The credit provided under this section shall not exceed

22

the amount of the tax otherwise due under this article.

23

Section 3.  The addition of sections 301(l.3) and 314.1 of

24

the act shall apply to taxable years beginning after December

25

31, 2008.

26

Section 4.  If a constitutional amendment authorizing a

27

personal income tax credit for long-term care premiums is

28

ratified, the Secretary of the Commonwealth shall, immediately

29

after tabulating and computing the returns of the ratification

30

election, certify the result to the Legislative Reference Bureau

- 2 -

 


1

for publication as a notice in the Pennsylvania Bulletin.

2

Section 5.  This act shall take effect as follows:

3

(1)  The addition of section 314.1 of the act shall take

4

effect upon publication of the notice under section 4.

5

(2)  The remainder of this act shall take effect

6

immediately.

- 3 -

 


See other bills
under the
same topic