PRINTER'S NO. 1834
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1197
Session of
2018
INTRODUCED BY BROWNE, SCARNATI, GORDNER, ARGALL, MENSCH,
BOSCOLA, AUMENT, YUDICHAK, KILLION, McGARRIGLE, WARD,
VULAKOVICH AND STEFANO, JUNE 8, 2018
REFERRED TO FINANCE, JUNE 8, 2018
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in personal income tax, further providing for net
gains or income, net losses and for dividends.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 303(a)(5) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
and subsection (a)(3) is amended by adding a subparagraph to
read:
Section 303. Classes of Income.--(a) The classes of income
referred to above are as follows:
* * *
(3) Net gains or income from disposition of property. Net
gains or net income, less net losses, derived from the sale,
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