Pennsylvania · 2025-2026 Regular Session · Bill

SB 1031: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in corporate net income tax, repealing provisions relating to penalties and to repealer and effective date; establishing the Net Operating Loss Transfer Program; and imposing penalties.

In committee Last action October 3, 2025: Referred to Finance

Plain-language summary

SB 1031 is a bill introduced in the Pennsylvania Senate on October 3, 2025. According to its official title, it concerns: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in corporate net income tax, repealing provisions relating to penalties and to repealer and effective date; establishing the Net Operating Loss Transfer Program; and imposing penalties. Primary sponsor: Lisa Boscola (Democratic). It lists 4 additional sponsors. Most recent recorded action (October 3, 2025): Referred to Finance.

Sponsors

Primary sponsor: Lisa Boscola (Democratic). 4 co-sponsors.