An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in bank and trust company shares tax, further providing for ascertainment of taxable amount and exclusion of United States obligations; and providing for ascertainment of taxable amount and construction.

This bill clarifies how Pennsylvania calculates taxes on shares held by banks and trust companies, specifically regarding the treatment of United States government debt. It establishes that new rules for determining taxable amounts apply only to shares held after December 31, 2024, and taxes due after March 14, 2025. The legislation also ensures that these changes do not affect tax calculations or refunds for periods before those dates, preserving the previous legal standards for earlier years.