PRINTER'S NO. 1580
No. 1113 Session of 2006
INTRODUCED BY BROWNE, ORIE, M. WHITE, PILEGGI, BOSCOLA, RAFFERTY, LEMMOND AND O'PAKE, MARCH 17, 2006
REFERRED TO FINANCE, MARCH 17, 2006
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," further providing, in personal income tax, for 11 classes of income. 12 The General Assembly of the Commonwealth of Pennsylvania 13 thereby enacts as follows: 14 Section 1. Section 303 of the act of March 4, 1971 (P.L.6, 15 No.2), known as the Tax Reform Code of 1971, is amended by 16 adding a subsection to read: 17 Section 303. Classes of Income.--* * * 18 (a.6) The requirements of section 1033 of the Internal 19 Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 1033), as 20 amended, shall be applicable. 21 * * * 22 Section 2. This act shall take effect in 60 days. B14L72MSP/20060S1113B1580