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; and providing for 529 savings account employer matching contribution tax credit and tuition account programs.

This bill modifies Pennsylvania's personal income tax law to introduce tax incentives for 529 savings accounts and tuition programs. It allows employers to claim a tax credit for matching employee contributions to 529 accounts, with a limit of $500 per employee per year, provided the employee also contributes to the account. Additionally, the bill updates tuition account rules to prevent fees from being charged when an account is closed due to the beneficiary's death or disability and ensures such payments are not taxed as income. These changes aim to encourage education savings while clarifying tax treatment for specific account events.