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Bill

HB 788

An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in mutual thrift institutions tax, further providing for imposition, report and payment of tax and exemptions.

2025-2026 Regular Session Introduced by Keith Greiner and 11 co-sponsors

Modifies Pennsylvania tax code to change how mutual thrift institutions report, pay taxes, and qualify for exemptions.

Laid on the table
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WeVote Research Nonpartisan
Bill Summary · HB 788

Legislative bill overview

HB 788 modifies Pennsylvania's Tax Reform Code of 1971 to adjust how mutual thrift institutions (such as mutual savings banks and credit unions) are taxed. The bill specifically changes provisions related to tax imposition, reporting, payment procedures, and exemptions for these financial institutions.

Why is this important

Mutual thrift institutions serve lower-income and working-class communities by providing accessible banking and lending services. Changes to their tax treatment directly affect their operating costs, which can influence their ability to offer competitive rates, expand services, or maintain profitability—ultimately impacting the communities they serve.

Potential points of contention

  • Tax burden shifting: Unclear whether the amendment increases or decreases taxes on these institutions, which could either improve their competitiveness or burden them further
  • Community bank viability: Changes to exemptions or tax rates may disproportionately affect smaller mutual institutions versus larger commercial banks
  • Revenue impact: The state's fiscal implications are unknown without seeing the specific amendments, making it difficult to assess whether this helps or hurts the state budget

Compiled from official sources — confirm details with the bill’s official record.

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