Bill Text: PA SB617 | 2011-2012 | Regular Session | Introduced

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Bill Title: In realty transfer tax, further providing for excluded transactions.

Spectrum: Slight Partisan Bill (Democrat 4-2)

Status: (Introduced - Dead) 2011-02-23 - Referred to FINANCE [SB617 Detail]

Download: Pennsylvania-2011-SB617-Introduced.html

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PRINTER'S NO. 626
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 617 Session of2011
INTRODUCED BY YUDICHAK, RAFFERTY, FONTANA, SOLOBAY, COSTA AND BREWSTER, FEBRUARY 23, 2011
REFERRED TO FINANCE, FEBRUARY 23, 2011
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in realty transfer tax, further providing for
excluded transactions.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1102-C.3 of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
by adding a clause to read:
Section 1102-C.3. Excluded Transactions.--The tax imposed by
section 1102-C shall not be imposed upon:
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(23) A transfer for no or nominal actual consideration from
a corporation not-for-profit, all of the members of which are
members of a veterans service organization, which organization
is a corporation not-for-profit, to the veterans service
organization.
Section 2. This act shall take effect in 60 days.
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