PRIOR PRINTER'S NO. 1560 PRINTER'S NO. 1864
No. 1312 Session of 2005
INTRODUCED BY MUSTIO, TURZAI, ALLEN, BAKER, BALDWIN, BARRAR,
BASTIAN, BENNINGHOFF, BOYD, CALTAGIRONE, CAPPELLI, CAUSER,
CLYMER, CRAHALLA, CREIGHTON, DALEY, DENLINGER, ELLIS,
FAIRCHILD, FEESE, FICHTER, GEIST, GINGRICH, GOODMAN, HARRIS,
HERMAN, HERSHEY, HICKERNELL, HUTCHINSON, M. KELLER, KILLION,
LEH, MAJOR, MARKOSEK, MARSICO, McILHATTAN, McILHINNEY,
McNAUGHTON, METCALFE, MILLARD, R. MILLER, S. MILLER, NAILOR,
NICKOL, O'NEILL, PAYNE, PETRARCA, PICKETT, READSHAW, REED,
REICHLEY, ROSS, RUBLEY, SCAVELLO, SCHRODER, SEMMEL, STEIL,
STERN, R. STEVENSON, E. Z. TAYLOR, TRUE, WALKO, WATSON, WILT
AND ZUG, APRIL 11, 2005
AS REPORTED FROM COMMITTEE ON FINANCE, HOUSE OF REPRESENTATIVES,
AS AMENDED, MAY 3, 2005
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 capital stock franchise tax,
11 for imposition of tax and for expiration.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Sections 602(h) and 607 of the act of March 4,
15 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971,
16 amended December 23, 2003 (P.L.250, No.46), are amended to read:
17 Section 602. Imposition of Tax.--* * *
1 (h) The rate of tax for purposes of the capital stock and
2 franchise tax for taxable years beginning within the dates set
3 forth shall be as follows:
4 Taxable Year Regular Rate Surtax Total Rate
5 January 1, 1971, to
6 December 31, 1986 10 mills 0 10 mills
7 January 1, 1987, to
8 December 31, 1987 9 mills 0 9 mills
9 January 1, 1988, to
10 December 31, 1990 9.5 mills 0 9.5 mills
11 January 1, 1991, to
12 December 31, 1991 11 mills 2 mills 13 mills
13 January 1, 1992, to
14 December 31, 1997 11 mills 1.75 mills 12.75 mills
15 January 1, 1998, to
16 December 31, 1998 11 mills .99 mills 11.99 mills
17 January 1, 1999, to
18 December 31, 1999 10.99 mills 0 10.99 mills
19 January 1, 2000, to
20 December 31, 2000 8.99 mills 0 8.99 mills
21 January 1, 2001, to
22 December 31, 2001 7.49 mills 0 7.49 mills
23 [January 1, 2002, to <--
24 December 31, 2003 7.24 mills 0 7.24 mills
25 January 1, 2004, to
26 December 31, 2004 6.99 mills 0 6.99 mills
27 [January 1, 2005, to <--
28 December 31, 2005 5.99 mills 0 5.99 mills
29 January 1, 2006, to
30 December 31, 2006 4.99 mills 0 4.99 mills
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1 January 1, 2007, to
2 December 31, 2007 3.99 mills 0 3.99 mills
3 January 1, 2008, to
4 December 31, 2008 2.99 mills 0 2.99 mills
5 January 1, 2009, to
6 December 31, 2009 1.99 mills 0 1.99 mills
7 January 1, 2010, to
8 December 31, 2010 .99 mills 0 .99 mills]
9 January 1, 2002, to <--
10 December 31, 2002 7.24 mills 0 7.24 mills
11 January 1, 2003, to
12 December 31, 2003 6.99 mills 0 6.99 mills
13 January 1, 2004, to
14 December 31, 2004 4.99 mills 0 4.99 mills
15 January 1, 2005, to
16 December 31, 2005 3.99 mills 0 3.99 mills
17 January 1, 2006, to
18 December 31, 2006 2.99 mills 0 2.99 mills
19 January 1, 2007, to
20 December 31, 2007 1.99 mills 0 1.99 mills
21 January 1, 2008, to
22 December 31, 2008 .99 mills 0 .99 mills
23 * * *
24 Section 607. [Expiration] Applicability.--This article shall
25 [expire for] not apply to taxable years beginning after December
26 31, [2010] 2008.
27 Section 2. The amendment of sections 602(h) and 607 of the
28 act shall be retroactive to December 23, 2003. APPLY TO TAXABLE <--
29 YEARS BEGINNING AFTER DECEMBER 31, 2004.
30 Section 3. This act shall take effect immediately.
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