PRINTER'S NO. 3976
No. 2691 Session of 2002
INTRODUCED BY PALLONE, BELFANTI, BROWNE, BUNT, CAPPELLI,
M. COHEN, COY, CREIGHTON, CURRY, DALLY, DeWEESE, FRANKEL,
GEORGE, GRUCELA, HARHAI, HARPER, HENNESSEY, HUTCHINSON,
JOSEPHS, KELLER, MANDERINO, MARKOSEK, McCALL, MELIO,
S. MILLER, MYERS, PETRARCA, PISTELLA, ROSS, SCRIMENTI,
SHANER, SOLOBAY, TANGRETTI, TIGUE, TRAVAGLIO, TRICH, WALKO,
WANSACZ, YOUNGBLOOD AND YUDICHAK, JUNE 10, 2002
REFERRED TO COMMITTEE ON FINANCE, JUNE 10, 2002
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 for exemption for qualified disability
11 trusts.
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 305.1. Exemption for Qualified Disability Trust.--A
18 qualified disability trust as defined in section 642(b)(2)(C) of
19 the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C.
20 § 642(b)(2)(C)) shall be entitled to exempt from income subject
1 to taxation under this article an amount not to exceed two
2 thousand nine hundred dollars ($2,900), provided that the
3 qualified disability trust is eligible for the same exemption
4 under Federal law.
5 Section 2. This act shall take effect in 60 days.
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