PRINTER'S NO. 604
No. 578 Session of 1999
INTRODUCED BY BELAN, COSTA, STAPLETON, WAGNER, O'PAKE, BODACK,
MUSTO, STOUT AND MELLOW, MARCH 15, 1999
REFERRED TO FINANCE, MARCH 15, 1999
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 a credit against personal income tax
11 for the purchase of materials containing recycled newspapers.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
15 the Tax Reform Code of 1971, is amended by adding a section to
16 read:
17 Section 314.1. Credit for Purchase of Materials Containing
18 Recycled Newspapers.--(a) A taxpayer shall be allowed a tax
19 credit under this article in an amount equal to ten per cent of
20 the retail price of materials purchased by the taxpayer that
21 contain at least eighty per cent recycled newspaper by weight
22 and that are used for construction purposes.
1 (b) In no event shall the credit provided for in subsection
2 (a) reduce the tax payable to less than zero; however, if the
3 amount of the credit reduces the tax payable to zero, any
4 remaining tax credit may be carried over to the seven taxable
5 years immediately following such tax year.
6 (c) The department shall promulgate regulations to implement
7 the provisions of this section.
8 Section 2. This act shall apply to tax years beginning on
9 and after January 1, 2000.
10 Section 3. This act shall take effect immediately.
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