PRINTER'S NO. 1372
No. 1159 Session of 2003
INTRODUCED BY PALLONE, BAKER, BEBKO-JONES, BISHOP, BROWNE,
CIVERA, COY, DALEY, DeWEESE, EACHUS, FRANKEL, GEORGE,
GOODMAN, GRUCELA, HALUSKA, HARHAI, HARPER, HENNESSEY, HORSEY,
JOSEPHS, KOTIK, LAUGHLIN, MELIO, S. MILLER, MYERS, PETRONE,
PISTELLA, REICHLEY, ROSS, SAINATO, SCHRODER, SCRIMENTI,
SHANER, SOLOBAY, STABACK, TANGRETTI, TRAVAGLIO, WALKO,
WANSACZ, WASHINGTON, WOJNAROSKI, YOUNGBLOOD AND MUNDY,
APRIL 14, 2003
REFERRED TO COMMITTEE ON FINANCE, APRIL 14, 2003
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.
1 § 642(b)(2)(C)) shall be entitled to exempt from income subject
2 to taxation under this article an amount not to exceed two
3 thousand nine hundred dollars ($2,900), provided that the
4 qualified disability trust is eligible for the same exemption
5 under Federal law.
6 Section 2. This act shall take effect in 60 days.
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