PRINTER'S NO. 269
No. 267 Session of 2001
INTRODUCED BY MELLOW, O'PAKE, WAGNER, STOUT, KASUNIC,
TARTAGLIONE, MUSTO, LAVALLE, KITCHEN, COSTA, STACK, HUGHES,
LOGAN AND WOZNIAK, FEBRUARY 5, 2001
REFERRED TO FINANCE, FEBRUARY 5, 2001
AN ACT
1 Providing for a credit against personal income tax.
2 The General Assembly of the Commonwealth of Pennsylvania
3 hereby enacts as follows:
4 Section 1. Short title.
5 This act shall be known and may be cited as the Income Tax
6 Credit Act of 2001.
7 Section 2. Credit.
8 (a) Calculation.--A taxpayer shall be entitled to a credit
9 of .3% of the tax paid under Article III of the act of March 4,
10 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, for
11 the taxable years beginning after December 31, 1999, and ending
12 before January 1, 2001.
13 (b) Application.--The credit under subsection (a) shall be
14 applied against any tax due from the taxpayer under Article III
15 of the Tax Reform Code of 1971 for the taxable years beginning
16 after December 31, 2000, and ending before January 1, 2002.
17 Section 3. Effective date.
1 This act shall take effect immediately.
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