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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| HOUSE BILL |
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| INTRODUCED BY REICHLEY, CALTAGIRONE, CLYMER, EVERETT, FLECK, GEIST, HORNAMAN, KILLION, MAJOR, M. O'BRIEN, PETRI, READSHAW, SCAVELLO, K. SMITH AND WAGNER, FEBRUARY 14, 2011 |
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| REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 14, 2011 |
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| AN ACT |
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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 tax credit for donation of used |
11 | computers; and further defining "taxable income" relating to |
12 | the corporate net income tax. |
13 | The General Assembly of the Commonwealth of Pennsylvania |
14 | hereby enacts as follows: |
15 | Section 1. The act of March 4, 1971 (P.L.6, No.2), known as |
16 | the Tax Reform Code of 1971, is amended by adding a section to |
17 | read: |
18 | Section 314.1. Tax Credit for Donation of Used Computers.-- |
19 | (a) A taxpayer shall be allowed a credit against the tax |
20 | imposed by this article for the donation of a used computer to a |
21 | charitable organization, volunteer firemen's organization, |
22 | nonprofit education institution or religious organization. The |
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1 | credit authorized by this section shall be equal to the fair |
2 | market value of the used computer multiplied by the rate of tax |
3 | imposed pursuant to section 302. |
4 | (b) The credit provided under this section shall not exceed |
5 | the amount of the tax otherwise due under this article. |
6 | (c) The Secretary of Revenue may promulgate regulations to |
7 | implement this section. |
8 | Section 2. Section 401(3)1 of the act is amended by adding a |
9 | paragraph to read: |
10 | Section 401. Definitions.--The following words, terms, and |
11 | phrases, when used in this article, shall have the meaning |
12 | ascribed to them in this section, except where the context |
13 | clearly indicates a different meaning: |
14 | * * * |
15 | (3) "Taxable income." 1. * * * |
16 | (t) An additional deduction shall be allowed from taxable |
17 | income in the amount of the fair market value of a used computer |
18 | donated to a charitable organization, volunteer firemen's |
19 | organization, nonprofit education institution or religious |
20 | organization. |
21 | * * * |
22 | Section 3. This act shall apply to taxable years beginning |
23 | after December 31, 2010. |
24 | Section 4. This act shall take effect immediately. |
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