H0468B0475A00695 AJM:ENP 04/09/13 #90 A00695







Printer's No. 475


1Amend Bill, page 1, line 11, by inserting after "for"

2 definitions and for

3Amend Bill, page 1, lines 15 through 17, by striking out all
4of said lines and inserting

5Section 1. The definition of "income" in section 1303 of the
6act of June 27, 2006 (1st Sp.Sess., P.L.1873, No.1), known as
7the Taxpayer Relief Act, is amended to read:

8Section 1303. Definitions.

9The following words and phrases when used in this chapter
10shall have the meanings given to them in this section unless the
11context clearly indicates otherwise:

12* * *

13"Income." All income from whatever source derived,
14including, but not limited to:

15(1) Salaries, wages, bonuses, commissions, income from
16self-employment, alimony, support money, cash public
17assistance and relief.

18(2) The gross amount of any pensions or annuities,
19including railroad retirement benefits for calendar years
20prior to 1999 and 50% of railroad retirement benefits for
21calendar years 1999 and thereafter.

22(3) All benefits received under the Social Security Act
23(49 Stat. 620, 42 U.S.C. § 301 et seq.), except Medicare
24benefits, for calendar years prior to 1999, and 50% of all
25benefits received under the Social Security Act, except
26Medicare benefits, for calendar years 1999 and thereafter.

27(4) All benefits received under State unemployment
28insurance laws and veterans' disability payments.

29(5) All interest received from the Federal or any state
30government or any instrumentality or political subdivision

32(6) Realized capital gains and rentals.

33(7) Workers' compensation.

34(8) The gross amount of loss of time insurance benefits,
35life insurance benefits and proceeds, except the first
36[$5,000] $10,000 of the total of death benefit payments.

37(9) Gifts of cash or property, other than transfers by

1gift between members of a household, in excess of a total
2value of $300.

3The term does not include surplus food or other relief in kind
4supplied by a governmental agency, property tax or rent rebate
5or inflation dividend.

6* * *

7Section 2. Section 1305(d) of the act is amended by adding a
8paragraph to read:

9Amend Bill, page 2, line 21, by striking out "2" and

11 3


See A00695 in
the context
of HB0468