PRIOR PRINTER'S NO. 357

PRINTER'S NO. 1710

THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE BILL

No.

333

Session of

2017

INTRODUCED BY NELSON, BLOOM, GROVE, KNOWLES, COX, GREINER,

BAKER, PICKETT, JAMES, DUNBAR, RYAN, ROTHMAN, RAPP, FEE,

KAUFFMAN, ORTITAY, WARD, PEIFER, STAATS, MENTZER, B. MILLER,

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

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

(a.3) The cost of property commonly referred to as Section

179 Property may be treated as a deductible expense only to the

extent allowable under [the version of section 179 of the

Internal Revenue Code in effect at the time the property is

placed in service or under] section 179 of the Internal Revenue

Code of 1986 (26 U.S.C. § 179), [whichever is earlier] as

amended. The basis of Section 179 Property shall be reduced, but

not below zero, for costs treated as a deductible expense. The

amount of the reduction shall be the amount deducted on a return