Bill Text: PA HB2555 | 2009-2010 | Regular Session | Introduced

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Bill Title: In personal income tax, further providing for classes of income.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2010-06-01 - Referred to FINANCE [HB2555 Detail]

Download: Pennsylvania-2009-HB2555-Introduced.html

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PRINTER'S NO. 3836
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2555 Session of2010
INTRODUCED BY REICHLEY, BELFANTI, BURNS, D. COSTA, FAIRCHILD, GEIST, HORNAMAN, MICOZZIE, MURT, MUSTIO, O'NEILL, RAPP, READSHAW, SIPTROTH, SOLOBAY, SWANGER AND YOUNGBLOOD, JUNE 1, 2010
REFERRED TO COMMITTEE ON FINANCE, JUNE 1, 2010
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 of the act of March 4, 1971 (P.L.6,
No.2), known as the Tax Reform Code of 1971, is amended by
adding a subsection to read:
Section 303. Classes of Income.--* * *
(a.8) The total cost associated with hiring a surveyor and
filing a letter of map amendment and other related application
requirements established by the Federal Emergency Management
Agency for the National Flood Insurance Program shall be
deductible from taxable income on the annual personal income tax
return.
* * *
Section 2. The addition of section 303(a.8) of the act shall
apply to taxable years beginning after December 31, 2009.
Section 3. This act shall take effect in 60 days.
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