HB 1129: 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.

Plain-language summary

HB 1129 is a bill introduced in the Pennsylvania House on April 4, 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: Paul Friel (Democratic). It lists 15 additional sponsors. Most recent recorded action (January 30, 2026): Referred to Finance.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written