Bill Information

An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, further providing for sales and use tax definitions, exclusions and refunds; providing for local sales tax situs for construction materials; revising and adding personal income tax provisions on definitions, special provisions for poverty, partnerships, associations and business entities; making an editorial change relating to the name of the Organ Donation Awareness Trust Fund; further providing for corporate net income tax definitions and resettlements; further providing for capital stock franchise definitions; further providing for administration and enforcement of the bank and trust company shares tax; eliminating the alternative bank and trust company shares tax; eliminating the alternative title insurance companies shares tax; further providing for insurance premiums tax credits for assessments; eliminating the excise tax on foreign corporations; further providing for cigarette tax enforcement and sanctions; further providing for settlement and resettlement of the mutual thrift institutions tax; providing for a tax credit for new jobs; eliminating obsolete tax credit provisions; and making repeals.