PENNSYLVANIA, October 28 - PRINTER'S NO. 352

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

349

Session of

2021

INTRODUCED BY HUTCHINSON, DiSANTO, J. WARD, K. WARD, BROOKS,

MARTIN, STEFANO, PHILLIPS-HILL, BARTOLOTTA, VOGEL, PITTMAN,

DUSH, MASTRIANO AND SCAVELLO, MARCH 10, 2021

REFERRED TO FINANCE, MARCH 10, 2021

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.3) 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.3) The cost of property commonly referred to as Section

179 Property may be treated as a deductible expense only to the

extent allowable under the version of section 179 of the

Internal Revenue Code in effect at the time the property is

placed in service [or under section 179 of the Internal Revenue

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