A05295
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
2408
Session of
2020
INTRODUCED BY MARKOSEK, BURGOS, ULLMAN, SANCHEZ, WEBSTER,
RAVENSTAHL, CALTAGIRONE, HANBIDGE, T. DAVIS, McNEILL,
DELLOSO, O'MARA, HARKINS, HILL-EVANS, READSHAW, MULLINS,
DONATUCCI, WARREN, BURNS, BOYLE, HOHENSTEIN, KORTZ,
KOSIEROWSKI, BIZZARRO, KINSEY, GALLOWAY, SCHWEYER,
SHUSTERMAN, HOWARD, GREEN, FRANKEL, CIRESI, HELM AND MERSKI,
APRIL 14, 2020
AS REPORTED FROM COMMITTEE ON FINANCE, HOUSE OF REPRESENTATIVES,
AS AMENDED, APRIL 20, 2020
AN ACT
Amending the act of April 9, 1929 (P.L.343, No.176), entitled
"An act relating to the finances of the State government;
providing for cancer control, prevention and research, for
ambulatory surgical center data collection, for the Joint
Underwriting Association, for entertainment business
financial management firms, for private dam financial
assurance and for reinstatement of item vetoes; providing for
the settlement, assessment, collection, and lien of taxes,
bonus, and all other accounts due the Commonwealth, the
collection and recovery of fees and other money or property
due or belonging to the Commonwealth, or any agency thereof,
including escheated property and the proceeds of its sale,
the custody and disbursement or other disposition of funds
and securities belonging to or in the possession of the
Commonwealth, and the settlement of claims against the
Commonwealth, the resettlement of accounts and appeals to the
courts, refunds of moneys erroneously paid to the
Commonwealth, auditing the accounts of the Commonwealth and
all agencies thereof, of all public officers collecting
moneys payable to the Commonwealth, or any agency thereof,
and all receipts of appropriations from the Commonwealth,
authorizing the Commonwealth to issue tax anticipation notes
to defray current expenses, implementing the provisions of
section 7(a) of Article VIII of the Constitution of
Pennsylvania authorizing and restricting the incurring of
certain debt and imposing penalties; affecting every
department, board, commission, and officer of the State
government, every political subdivision of the State, and
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certain officers of such subdivisions, every person,
association, and corporation required to pay, assess, or
collect taxes, or to make returns or reports under the laws
imposing taxes for State purposes, or to pay license fees or
other moneys to the Commonwealth, or any agency thereof,
every State depository and every debtor or creditor of the
Commonwealth," in emergency finance and tax provisions,
providing for exemption from taxation and for nonprofit
corporations and charitable trusts.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of April 9, 1929 (P.L.343, No.176), known
as The Fiscal Code, is amended by adding a section sections to
read:
Section 104-A. Exemption from taxation.
A payment received by an individual from the United States
UNDER SECTION 2201 through the Coronavirus Aid, Relief and
Economic Security Act (Public Law 116-136) shall not be included
in the income, earned income or taxable income of the individual
for the 2020 tax year for the purpose of any of the following:
(1) The act of December 31, 1965 (P.L.1257, No.511),
known as The Local Tax Enabling Act.
(2) Article III of the act of March 4, 1971 (P.L.6,
No.2), known as the Tax Reform Code of 1971.
(3) The act of June 27, 2006 (1st Sp.Sess., P.L.1873,
No.1), known as the Taxpayer Relief Act.
Section 105-A. Nonprofit corporations and charitable trusts.
(a) Scope.--This section applies to all of the following:
(1) A board of directors or other body of a nonprofit
corporation incorporated for charitable purposes which elects
to be governed by 15 Pa.C.S. § 5548 (relating to investment
of trust funds).
(2) A trustee of a charitable trust held exclusively for
charitable purposes that elects to be governed by 20 Pa.C.S.
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§ 8113 (relating to charitable trusts).
(b) Time period.--This section applies to:
(1) each calendar year during which the proclamation of
disaster emergency issued by the Governor on March 6, 2020,
published at 50 Pa.B. 1644 (March 21, 2020), and any renewal
of the state of disaster emergency, is in effect; and
(2) the succeeding calendar year.
(c) Nonprofit corporations.--During the time period
specified in subsection (b), a board or body under subsection
(a)(1) shall do all of the following:
(1) Select a percentage of the value of the assets held
by or for the corporation which:
(i) is consistent with the long-term preservation of
the real value of the assets; and
(ii) is not less than 2% nor more than 10% for the
calendar year.
(2) Maintain the percentage under paragraph (1) as part
of the permanent records of the corporation.
(d) Charitable trusts.--During the time period specified in
subsection (b), a trustee under subsection (a)(2) shall do all
of the following:
(1) Select a percentage of the value of the trust which:
(i) is consistent with the long-term preservation of
the real value of the principal of the trust; and
(ii) is not less than 2% nor more than 10% for the
calendar year.
(2) Maintain the percentage under paragraph (1) as part
of the permanent records of the trust.
(e) Inconsistency.--If there is an inconsistency between
this section and another statutory provision, this section
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governs.
Section 2. This act shall take effect immediately.
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