PENNSYLVANIA, July 6 - PRINTER'S NO. 1012

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

858

Session of

2023

INTRODUCED BY ROBINSON, COLEMAN, PENNYCUICK, BARTOLOTTA, ROTHMAN

AND PHILLIPS-HILL, JULY 6, 2023

REFERRED TO FINANCE, JULY 6, 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 mutual thrift institutions tax, further

providing for imposition, report and payment of tax and

exemptions.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. Section 1502(a) and (d)(2) of the act of March 4,

1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, are

amended to read:

Section 1502. Imposition; Report and Payment of Tax;

Exemptions.--(a) Every institution shall annually, by April 15

of each year [beginning in the year 1984], make a report to the

Department of Revenue, setting forth the entire amount of

taxable net income received or accrued by said institution from

all sources during the preceding year, and such other

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