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Bill > SB655
PA SB655
PA SB655In personal income tax, further providing for classes of income; in corporate net income tax, further providing for definitions; in tax credit and tax benefit administration, further providing for definitions; and providing for personal health investment tax credit.
summary
Introduced
04/30/2025
04/30/2025
In Committee
04/30/2025
04/30/2025
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; in corporate net income tax, further providing for definitions; in tax credit and tax benefit administration, further providing for definitions; and providing for personal health investment tax credit.
AI Summary
This bill introduces several tax-related provisions focused on providing tax benefits to members of the military and their fitness-related expenses. Specifically, the bill allows businesses and taxpayers who are active-duty military personnel, members of the Pennsylvania National Guard, or reserve component members to deduct or receive a tax credit for fitness facility memberships. The tax credit is capped at $600 per taxpayer per year and can be claimed on annual tax returns for expenses related to physical activities, including fitness facility memberships and exercise programs. Importantly, the tax credit cannot be carried over, refunded, sold, or transferred, and cannot be claimed by multiple taxpayers for the same expenses. The bill defines "qualified sports and fitness expenses" broadly to include memberships, physical activity participation, instruction, and equipment used in exercise programs. These provisions will apply to taxable years beginning after December 31, 2024, and the Department of Revenue is tasked with publishing guidelines and creating regulations to implement these new tax provisions. The bill aims to provide financial support and incentives for military personnel to maintain their physical fitness and health.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Referred to Finance (on 04/30/2025)
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