Regular Session 2021-2022 House Bill 0285 P.N. 1285

PRINTER'S NO. 1285

THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE BILL

No.

285

Session of

2021

INTRODUCED BY METCALFE, CIRESI, COOK, GAYDOS, GILLEN, GLEIM,

GREINER, GROVE, HILL-EVANS, JONES, KAUFER, KEEFER, MILLARD,

ROTHMAN, RYAN, SANKEY, WHEELAND AND ZIMMERMAN, APRIL 20, 2021

REFERRED TO COMMITTEE ON FINANCE, APRIL 20, 2021

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 relating to employee stock ownership plans.

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.10) The provisions of sections 402(e)(4) and 1042 of the

Internal Revenue Code of 1986 (26 U.S.C. §§ 402(e)(4) and 1042),

as amended, shall be applicable.

* * *

Section 2. The addition of section 303(a.10) of the act