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PRIOR PRINTER'S NO. 1285
PRINTER'S NO. 2655
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
285
Session of
2021
INTRODUCED BY METCALFE, COOK, GAYDOS, GILLEN, GLEIM, GREINER,
GROVE, JONES, KAUFER, KEEFER, MILLARD, ROTHMAN, RYAN, SANKEY,
WHEELAND, ZIMMERMAN AND MERCURI, APRIL 20, 2021
AS RE-REPORTED FROM COMMITTEE ON APPROPRIATIONS, HOUSE OF
REPRESENTATIVES, AS AMENDED, JANUARY 25, 2022
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 relating to employee stock ownership plans.
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) (A.11) The provisions of sections 402(e)(4) and 1042
of the Internal Revenue Code of 1986 (26 U.S.C. ยงยง 402(e)(4) and
1042) , as amended, IN EFFECT ON THE EFFECTIVE DATE OF THIS
SUBSECTION shall be applicable.
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Section 2. The addition of section 303(a.10) 303(A.11) of
the act shall apply to taxable years beginning after January 1,
2021 DECEMBER 31, 2020.
Section 3. This act shall take effect in 60 days
IMMEDIATELY.
20210HB0285PN2655 - 2 -
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