PENNSYLVANIA, July 7 - PRINTER'S NO. 980

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

779

Session of

2021

INTRODUCED BY FONTANA, HUGHES, COLLETT, COSTA, STREET AND

KEARNEY, JULY 6, 2021

REFERRED TO FINANCE, JULY 6, 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," providing for small business tax reinvestment.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. The act of March 4, 1971 (P.L.6, No.2), known as

the Tax Reform Code of 1971, is amended by adding an article to

read:

ARTICLE XX-A

SMALL BUSINESS TAX REINVESTMENT

Section 2001-A. Short title.

This article shall be known and may be cited as the Small

Business Tax Reinvestment Savings Account Act.

Section 2002-A. Definitions.

The following words and phrases when used in this article

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