PRINTER'S NO. 1729
No. 4 Session of 2000
INTRODUCED BY TILGHMAN, THOMPSON, HELFRICK, PICCOLA, EARLL,
PUNT, WENGER, COSTA, BELL, CORMAN, JUBELIRER, SALVATORE,
WHITE, WAUGH, DENT, O'PAKE, CONTI, LEMMOND, ROBBINS, WAGNER,
TOMLINSON, GERLACH, SLOCUM, GREENLEAF, HART, MOWERY, HOLL,
BRIGHTBILL, MURPHY, LOEPER, MADIGAN, ARMSTRONG AND RHOADES,
MARCH 14, 2000
REFERRED TO FINANCE, MARCH 14, 2000
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," reducing the rate of the capital stock franchise
11 tax; providing for a phaseout of the capital stock franchise
12 tax; and making a repeal.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 602(h) of the act of March 4, 1971
16 (P.L.6, No.2), known as the Tax Reform Code of 1971, amended May
17 12, 1999 (P.L.26, No.4), is amended to read:
18 Section 602. Imposition of Tax.--* * *
19 (h) The rate of tax for purposes of the capital stock and
20 franchise tax for taxable years beginning within the dates set
21 forth shall be as follows:
1 Taxable Year Regular Rate Surtax Total Rate
2 January 1, 1971, to
3 December 31, 1986 10 mills 0 10 mills
4 January 1, 1987, to
5 December 31, 1987 9 mills 0 9 mills
6 January 1, 1988, to
7 December 31, 1990 9.5 mills 0 9.5 mills
8 January 1, 1991, to
9 December 31, 1991 11 mills 2 mills 13 mills
10 January 1, 1992, to
11 December 31, 1997 11 mills 1.75 mills 12.75 mills
12 January 1, 1998, to
13 December 31, 1998 11 mills .99 mills 11.99 mills
14 [January 1, 1999, and
15 each year thereafter 10.99 mills 0 10.99 mills]
16 January 1, 1999, to
17 December 31, 1999 10.99 mills 0 10.99 mills
18 January 1, 2000, to
19 December 31, 2000 8.99 mills
20 January 1, 2001, to
21 December 31, 2001 7.99 mills
22 January 1, 2002, to
23 December 31, 2002 6.99 mills
24 January 1, 2003, to
25 December 31, 2003 5.99 mills
26 January 1, 2004, to
27 December 31, 2004 4.99 mills
28 January 1, 2005, to
29 December 31, 2005 3.99 mills
30 January 1, 2006, to
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1 December 31, 2006 2.99 mills
2 January 1, 2007, to
3 December 31, 2007 1.99 mills
4 January 1, 2008, to
5 December 31, 2008 0.99 mills
6 * * *
7 Section 2. Article VI of the act is repealed.
8 Section 3. Section 1303 of the act of October 18, 1988
9 (P.L.756, No.108), known as the Hazardous Sites Cleanup Act, is
10 repealed.
11 Section 4. The repeal of Article VI of the act shall apply
12 to taxable years beginning after December 31, 2008.
13 Section 5. This act shall take effect as follows:
14 (1) The repeal of Article VI of the act shall take
15 effect January 1, 2009.
16 (2) The remainder of this act shall take effect
17 immediately.
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