PRINTER'S NO. 1191
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
963
Session of
2015
INTRODUCED BY TEPLITZ, WOZNIAK, TARTAGLIONE, COSTA, YUDICHAK,
BREWSTER, FONTANA, VULAKOVICH, DINNIMAN, SCHWANK AND WARD,
JULY 23, 2015
REFERRED TO FINANCE, JULY 23, 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, providing for
contributions for Tuition Account Programs.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
the Tax Reform Code of 1971, is amended by adding a section to
read:
Section 315.12. Contributions for Tuition Account
Programs.--(a) The department shall provide a space on the
Pennsylvania individual income tax return form by which an
individual may voluntarily designate a contribution of any
amount desired to an account within the Tuition Account
Guaranteed Savings Program or the Tuition Account Investment
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Program established under the act of April 3, 1992 (P.L.28,
No.11), known as the "Tuition Account Programs and College
Savings Bond Act."
(b) The amount designated under subsection (a) by an
individual on the income tax return form shall be deducted from
the tax refund to which the individual is entitled and shall not
constitute a charge against the income tax revenues due the
Commonwealth.
(c) The department shall determine the amount designated
under this section and shall report the amount to the State
Treasurer, who shall transfer the amount from the General Fund
to the appropriate account within the Tuition Account
Guaranteed Savings Program or the Tuition Account Investment
Program .
Section 2. The addition of section 315.12 of the act shall
apply to tax years beginning after December 31, 2014.
Section 3. This act shall take effect in 60 days.
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