Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania HB2869: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in personal income tax, further providing for classes of income.
Status: In committee, October 28, 2026
What the bill says
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.
From the introduced text, October 28, 2026:
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(a.7) 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 paragraph to read: Section 303. Classes of Income.--* * * (a.7) The following apply: * * * (1.1) An amount paid as a contribution into a Trump account established under section 530A of the Internal Revenue Code of 1986 shall be deductible from taxable income on the annual personal income tax return. The amount paid as a contribution to a Trump account allowable as a deduction under this subsection shall be subject to an annual limitation not to exceed the threshold for exclusion from gifts as provided in section 2503(b) of the Internal Revenue Code of 1986, as amended, per designated beneficiary. The deduction shall not result in taxable income …