1Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2act relating to tax reform and State taxation by codifying
3and enumerating certain subjects of taxation and imposing
4taxes thereon; providing procedures for the payment,
5collection, administration and enforcement thereof; providing
6for tax credits in certain cases; conferring powers and
7imposing duties upon the Department of Revenue, certain
8employers, fiduciaries, individuals, persons, corporations
9and other entities; prescribing crimes, offenses and
10penalties," further providing for classes of income.

11The General Assembly of the Commonwealth of Pennsylvania
12hereby enacts as follows:

13Section 1. Section 303(a.3) of the act of March 4, 1971
14(P.L.6, No.2), known as the Tax Reform Code of 1971, added June
1529, 2002 (P.L.559, No.89), is amended to read:

16Section 303. Classes of Income.--* * *

17(a.3) The cost of property commonly referred to as Section 
18179 Property may be treated as a deductible expense [only to the 
19extent allowable under the version of section 179 of the 
20Internal Revenue Code in effect at the time the property is 
21placed in service or under section 179 of the Internal Revenue 
22Code of 1986 (26 U.S.C. § 179), whichever is earlier] not to
 

1exceed one hundred thousand dollars ($100,000). The basis of 
2Section 179 Property shall be reduced, but not below zero, for 
3costs treated as a deductible expense. The amount of the 
4reduction shall be the amount deducted on a return and not 
5disallowed, regardless of whether the deduction results in a 
6reduction of income.

7* * *

8Section 2. The amendment of section 303(a.3) of the act
9shall apply to the tax years beginning after December 31, 2014.

10Section 3. This act shall take effect immediately.