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PRINTER'S NO. 278
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
201
Session of
2017
INTRODUCED BY FOLMER, HUTCHINSON, EICHELBERGER, BROOKS, WARD,
BARTOLOTTA, WHITE, STEFANO, SCAVELLO, AUMENT, VULAKOVICH AND
BOSCOLA, JANUARY 31, 2017
REFERRED TO FINANCE, JANUARY 31, 2017
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 personal income tax, further providing for
classes of income.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 303(a.5) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
to read:
Section 303. Classes of Income.--* * *
(a.5) The requirements of [section] sections 1031 and 1035
of the Internal Revenue Code of 1986 (26 U.S.C. [§ 1035)] §§
1031 and 1035), as amended, shall be applicable.
* * *
Section 2. The amendment of section 303(a.5) of the act
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