PENNSYLVANIA, April 28 - PRINTER'S NO. 695

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

656

Session of

2025

INTRODUCED BY TARTAGLIONE, COLLETT, FONTANA, KEARNEY, STREET,

COMITTA, HUGHES, HAYWOOD, COSTA, KANE AND SANTARSIERO,

APRIL 28, 2025

REFERRED TO FINANCE, APRIL 28, 2025

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 corporate net income tax, further providing

for definitions, for reports and payment of tax and for

consolidated reports; and, in general provisions, further

providing for underpayment of estimated tax.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. Section 401(3)1(a), (b) and (t) and (5) of the

act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code

of 1971, are amended, (3)2(a)(9)(A) is amended by adding a unit,

(3)1 and (3)4 are amended by adding phrases and the section is

amended by adding clauses to read:

Section 401. Definitions.--The following words, terms, and

phrases, when used in this article, shall have the meaning

ascribed to them in this section, except where the context

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