PRINTER'S NO. 568
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
464
Session of
2021
INTRODUCED BY KEARNEY, CAPPELLETTI, COSTA, FONTANA, HAYWOOD,
STREET AND TARTAGLIONE, APRIL 13, 2021
REFERRED TO FINANCE, APRIL 13, 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 corporate net income tax, further providing
for definitions.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 401(3)1 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 paragraph to read:
Section 401. Definitions.--The following words, terms, and
phrases, when used in this article, shall have the meaning
ascribed to them in this section, except where the context
clearly indicates a different meaning:
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(3) "Taxable income." 1. * * *
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(b.2) An additional deduction shall be allowed from taxable
income on ordinary and necessary expenses paid or incurred
during the taxable year in carrying on any trade or business as
provided under section 162 of the Internal Revenue Code of 1986
(26 U.S.C. ยง 162), for a medical marijuana organization under
the act of April 17, 2016 (P.L.84, No.16), known as the "Medical
Marijuana Act ."
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Section 2. This act shall take effect in 60 days.
20210SB0464PN0568 - 2 -
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