PENNSYLVANIA, March 14 - PRINTER'S NO. 452

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

468

Session of

2023

INTRODUCED BY BOSCOLA, FONTANA AND COSTA, MARCH 14, 2023

REFERRED TO FINANCE, MARCH 14, 2023

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.11) (1) An amount paid as real property taxes that

exceeds the amount of the deduction for real property taxes

permitted under 26 U.S.C. § 164(b)(6)(B) (relating to taxes)

shall be deductible from taxable income on the annual personal

income tax return. The deduction shall not result in taxable

income being less than zero.

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