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PRINTER'S NO. 4438
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
2897
Session of
2020
INTRODUCED BY M. K. KELLER, PASHINSKI, BARRAR, BERNSTINE,
BOBACK, CAUSER, SCHLEGEL CULVER, DAVANZO, HILL-EVANS, JAMES,
JONES, JOZWIAK, KAUFFMAN, KEEFER, KORTZ, LONGIETTI,
MACKENZIE, MARSHALL, METZGAR, MILLARD, MOUL, MULLERY,
PICKETT, RADER, READSHAW, RYAN AND ZIMMERMAN,
SEPTEMBER 29, 2020
REFERRED TO COMMITTEE ON FINANCE, SEPTEMBER 29, 2020
AN ACT
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
classes of income.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 303 of the act of March 4, 1971 (P.L.6,
No.2), known as the Tax Reform Code of 1971, is amended by
adding a subsection to read:
Section 303. Classes of Income.--* * *
(a.10) The following apply:
(1) A person who receives insurance proceeds as a result of
destruction or damage to crops may elect to include the proceeds
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in income for the taxable year following the taxable year of
destruction or damage, if the person establishes that, under the
person's practice, income from the crops would have been
reported in a following taxable year.
(2) For purposes of this subsection, the term "insurance
proceeds" shall mean payments received under the Agricultural
Act of 1949 (Public Law 81-439, 63 Stat. 1051), as amended, or
Title II of the Robert T. Stafford Disaster Relief and Emergency
Assistance Act of 1988 (Public Law 100-707, 102 Stat. 4689), as
a result of:
(i) the destruction or damage to crops caused by drought,
flood or other natural disaster; or
(ii) the inability to plant crops because of drought, flood
or other natural disaster.
* * *
Section 2. This act shall take effect in 60 days.
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