PENNSYLVANIA, May 2 - PRINTER'S NO. 698

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

654

Session of

2023

INTRODUCED BY BARTOLOTTA, YAW, HUTCHINSON, PENNYCUICK, ROTHMAN,

BAKER, DUSH AND VOGEL, MAY 2, 2023

REFERRED TO FINANCE, MAY 2, 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) A person may claim a deduction for depletion of a

mine, oil and gas well and other natural deposit in accordance

with the provisions of sections 611, 612, 613, 613A, 614, 616

and 617 of the Internal Revenue Code of 1986 (Public Law 99-514,

26 U.S.C. § 611 et seq.) in effect on the effective date of this

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