PRINTER'S NO. 1563
No. 1271 Session of 2003
INTRODUCED BY ALLEN, HUTCHINSON, FAIRCHILD, PHILLIPS, ADOLPH,
ARMSTRONG, BAKER, BALDWIN, BARD, BARRAR, BENNINGHOFF, BOYD,
BUNT, BUXTON, CAPPELLI, CRAHALLA, CREIGHTON, DALLY, EGOLF,
FLEAGLE, GEIST, GILLESPIE, GOODMAN, HARRIS, HERSHEY, HESS,
LEDERER, LEH, LEWIS, MARKOSEK, McILHATTAN, McNAUGHTON,
METCALFE, S. MILLER, NAILOR, PETRARCA, PICKETT, READSHAW,
REED, REICHLEY, ROHRER, ROSS, RUBLEY, SAYLOR, SCAVELLO,
SCHRODER, SEMMEL, SHANER, B. SMITH, SOLOBAY, R. STEVENSON,
T. STEVENSON, E. Z. TAYLOR, TURZAI, WATSON, WEBER, WILT, ZUG
AND CLYMER, APRIL 30, 2003
REFERRED TO COMMITTEE ON FINANCE, APRIL 30, 2003
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," further providing for imposition and expiration
11 of capital stock and franchise tax.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Sections 602(h) and 607 of the act of March 4,
15 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971,
16 amended or added June 29, 2002 (P.L.559, No.89), are amended to
17 read:
18 Section 602. Imposition of Tax.--* * *
1 (h) The rate of tax for purposes of the capital stock and
2 franchise tax for taxable years beginning within the dates set
3 forth shall be as follows:
4 Taxable Year Regular Rate Surtax Total Rate
5 January 1, 1971, to
6 December 31, 1986 10 mills 0 10 mills
7 January 1, 1987, to
8 December 31, 1987 9 mills 0 9 mills
9 January 1, 1988, to
10 December 31, 1990 9.5 mills 0 9.5 mills
11 January 1, 1991, to
12 December 31, 1991 11 mills 2 mills 13 mills
13 January 1, 1992, to
14 December 31, 1997 11 mills 1.75 mills 12.75 mills
15 January 1, 1998, to
16 December 31, 1998 11 mills .99 mills 11.99 mills
17 January 1, 1999, to
18 December 31, 1999 10.99 mills 0 10.99 mills
19 January 1, 2000, to
20 December 31, 2000 8.99 mills 0 8.99 mills
21 January 1, 2001, to
22 December 31, 2001 7.49 mills 0 7.49 mills
23 January 1, 2002, to
24 December 31, 2002 7.24 mills 0 7.24 mills
25 [January 1, 2003, to
26 December 31, 2003 6.99 mills 0 6.99 mills
27 January 1, 2004, to
28 December 31, 2004 5.99 mills 0 5.99 mills
29 January 1, 2005, to
30 December 31, 2005 4.99 mills 0 4.99 mills
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1 January 1, 2006, to
2 December 31, 2006 3.99 mills 0 3.99 mills
3 January 1, 2007, to
4 December 31, 2007 2.99 mills 0 2.99 mills
5 January 1, 2008, to
6 December 31, 2008 1.99 mills 0 1.99 mills
7 January 1, 2009, to
8 December 31, 2009 .99 mills 0 .99 mills]
9 January 1, 2003, to
10 December 31, 2003 5.49 mills 0 5.49 mills
11 January 1, 2004, to
12 December 31, 2004 3.99 mills 0 3.99 mills
13 January 1, 2005, to
14 December 31, 2005 2.49 mills 0 2.49 mills
15 January 1, 2006, to
16 December 31, 2006 .99 mills 0 .99 mills
17 * * *
18 Section 607. Expiration.--This article shall expire for
19 taxable years beginning after December 31, [2009] 2006.
20 Section 2. This act shall be retroactive to January 1, 2003.
21 Section 3. This act shall take effect immediately.
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