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PRINTER'S NO. 2482
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
2137
Session of
2021
INTRODUCED BY WENTLING, PEIFER, MIZGORSKI, HILL-EVANS,
LONGIETTI, ROZZI, BROOKS, RYAN, R. MACKENZIE, BERNSTINE,
MALAGARI, CIRESI, JAMES, PENNYCUICK, QUINN AND MERSKI,
DECEMBER 7, 2021
REFERRED TO COMMITTEE ON FINANCE, DECEMBER 7, 2021
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.11) Any amount of principal and interest canceled by the
United States Secretary of Education under section 455(m) of the
Higher Education Act of 1965 (Public Law 89-329, 20 U.S.C. ยง
1087e(m)) shall be excluded from income under this article.
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Section 2. The addition of section 303(a.11) of the act
shall apply to taxable years beginning after December 31, 2020.
Section 3. This act shall take effect immediately.
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