Bill
Bill > HB1219
PA HB1219
In personal income tax, further providing for classes of income and for special tax provisions for poverty and providing for alternative special tax provisions for poverty; in corporate net income tax, further providing for definitions, for imposition of tax, for reports and payment of tax, for consolidated reports and for manufacturing innovation and reinvestment deduction; in realty transfer tax, further providing for transfer of tax; in tax credit and tax benefit administration, further provi
summary
Introduced
05/24/2023
05/24/2023
In Committee
10/13/2023
10/13/2023
Crossed Over
10/03/2023
10/03/2023
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
Potential new amendment
2023-2024 Regular Session
Bill Summary
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, for imposition of tax and for manufacturing innovation and reinvestment deduction. 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 AND FOR SPECIAL TAX PROVISIONS FOR POVERTY AND PROVIDING FOR ALTERNATIVE SPECIAL TAX PROVISIONS FOR POVERTY; IN CORPORATE NET INCOME TAX, FURTHER PROVIDING FOR DEFINITIONS, FOR IMPOSITION OF TAX, FOR REPORTS AND PAYMENT OF TAX, FOR CONSOLIDATED REPORTS AND FOR MANUFACTURING INNOVATION AND REINVESTMENT DEDUCTION; IN REALTY TRANSFER TAX, FURTHER PROVIDING FOR TRANSFER OF TAX; IN TAX CREDIT AND TAX BENEFIT ADMINISTRATION, FURTHER PROVIDING FOR DEFINITIONS; IN ENTERTAINMENT PRODUCTION TAX CREDIT, FURTHER PROVIDING FOR DEFINITIONS, FOR CREDIT FOR QUALIFIED FILM PRODUCTION EXPENSES, FOR CARRYOVER, CARRYBACK AND ASSIGNMENT OF CREDIT AND FOR LIMITATIONS; IN PENNSYLVANIA ECONOMIC DEVELOPMENT FOR A GROWING ECONOMY (PA EDGE) TAX CREDITS, PROVIDING FOR BIOTECHNOLOGY; IN NEIGHBORHOOD ASSISTANCE TAX CREDIT, FURTHER PROVIDING FOR TAX CREDIT AND FOR GRANT OF TAX CREDIT; PROVIDING FOR EXPANDED NEIGHBORHOOD IMPROVEMENT ZONES; IN PENNSYLVANIA CHILD AND DEPENDENT CARE ENHANCEMENT TAX CREDIT PROGRAM, FURTHER PROVIDING FOR CREDIT FOR CHILD AND DEPENDENT CARE EMPLOYMENT-RELATED EXPENSES; PROVIDING FOR PUBLIC TRANSPORTATION TRUST FUND; AND, IN GENERAL PROVISIONS, FURTHER PROVIDING FOR UNDERPAYMENT OF ESTIMATED TAX, FOR METHOD OF FILING AND FOR ALLOCATION OF TAX CREDITS.
AI Summary
This bill makes several changes to Pennsylvania's tax laws:
In personal income tax, it provides an exemption for employer-provided dependent care assistance and increases the poverty income amounts annually based on the consumer price index. It also offers an alternative special tax provision that provides a refund or forgiveness of personal income tax owed if 25% of the federal earned income credit exceeds the tax owed.
In corporate net income tax, it lowers the tax rate over several years, further defines "taxable income" and net loss deductions, and allows for combined reporting and unitary business taxation. It also modifies the manufacturing innovation and reinvestment deduction program.
The bill also makes changes to the realty transfer tax, tax credit and tax benefit administration, entertainment production tax credits, Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits, neighborhood assistance tax credits, the Pennsylvania Child and Dependent Care Enhancement Tax Credit Program, and general tax administration provisions.
Committee Categories
Budget and Finance
Sponsors (14)
Tim Briggs (D)*,
Bob Freeman (D),
Roni Green (D),
Nancy Guenst (D),
Liz Hanbidge (D),
Carol Hill-Evans (D),
Maureen Madden (D),
Ed Neilson (D),
Chris Pielli (D),
Ben Sanchez (D),
Mike Schlossberg (D),
Greg Scott (D),
Paul Takac (D),
Joe Webster (D),
Last Action
Referred to FINANCE (on 10/13/2023)
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