Bill
Bill > HB1001
summary
Introduced
03/24/2025
03/24/2025
In Committee
03/24/2025
03/24/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 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 personal income tax, further providing for classes of income.
AI Summary
This bill amends the Tax Reform Code of 1971 to specify that any amount received from the Federal or State Government, Jet Rescue Air Ambulance, or their agents related to the Med Jets Flight 056 plane crash in Philadelphia on January 31, 2025, will not be considered taxable income. Specifically, the bill adds a new provision to Section 303 of the Tax Reform Code that exempts compensation or payments connected to this specific plane crash from personal income tax. By creating this targeted tax exemption, the bill ensures that survivors, families, or other recipients of compensation stemming from this particular aviation incident will not have to pay income tax on those funds. The legislation is set to take effect 60 days after its enactment, providing a clear timeline for the implementation of this tax exemption.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Laid on the table (on 03/25/2025)
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