PRINTER'S NO. 2950
No. 2212 Session of 1990
INTRODUCED BY SERAFINI, BELARDI, SEMMEL, HALUSKA, BUNT, FOX,
CAPPABIANCA, COHEN, NOYE, JOHNSON, HERMAN, PESCI, FARMER,
TRELLO, McHALE AND DIETTERICK, JANUARY 2, 1990
REFERRED TO COMMITTEE ON FINANCE, JANUARY 2, 1990
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," providing for a corporate net income tax credit
11 for the use of recycled paper.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
15 the Tax Reform Code of 1971, is amended by adding a section to
16 read:
17 Section 402.1. Tax Credit for Use of Recycled Paper.--(a)
18 Notwithstanding any provision of this article, a corporation
19 whose principal business is newspaper publishing may deduct two
20 per cent from the tax amount due under section 402 if, during
21 the respective tax year, fifty per cent or more of the copies of
22 the newspaper it publishes are printed on recycled paper.
1 (b) This credit shall apply to tax years commencing on and
2 after January 1, 1990.
3 Section 2. This act shall take effect immediately.
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