PRINTER'S NO. 1145
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
933
Session of
2015
INTRODUCED BY BROWNE, FOLMER, VULAKOVICH, RAFFERTY, FONTANA AND
HUGHES, JUNE 29, 2015
REFERRED TO FINANCE, JUNE 29, 2015
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in personal income tax, further providing for
classes of income; and, in corporate net income tax,
providing for applicability of Federal law.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 303 of the act of March 4, 1971 (P.L.6,
No.2), known as the Tax Reform Code of 1971, is amended by
adding a subsection to read:
Section 303. Classes of Income.--* * *
(a.9) The requirements of section 1033 of the Internal
Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 1033), as
amended, shall be applicable.
* * *
Section 2. The act is amended by adding a section to read:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Section 402.3. Applicability of Federal Law.--The
requirements of section 1033 of the Internal Revenue Code of
1986 (Public Law 99-514, 26 U.S.C. § 1033 ), as amended, shall be
applicable.
Section 3. This act shall take effect in 60 days.
20150SB0933PN1145 - 2 -
1
2
3
4
5