PRINTER'S NO. 2559
No. 2060 Session of 1981
INTRODUCED BY HALUSKA, MAIALE, DAWIDA, LUCYK, TELEK,
PETRARCA, POTT, McVERRY, PRATT, SWAIM, JOHNSON, SEVENTY,
MERRY, F. E. TAYLOR, FRAZIER, H. WILLIAMS AND BROWN,
NOVEMBER 16, 1981
REFERRED TO COMMITTEE ON FINANCE, NOVEMBER 16, 1981
AN ACT
1 Amending the act of June 15, 1961 (P.L.373, No.207),
2 entitled "An act providing for the imposition of certain
3 taxes upon the transfer of property passing from a
4 decedent who was a resident of the Commonwealth at the
5 time of his death or presumed death and of property
6 having its situs in the Commonwealth of a decedent who
7 was a nonresident of the Commonwealth at the time of his
8 death or presumed death; imposing additional taxes to
9 equal Federal Estate Tax Credits; defining and taxing
10 certain transfers made in contemplation of death, or to
11 take effect in possession or enjoyment at or after death;
12 defining as a transfer and taxing the right of
13 survivorship in certain property as to which such right
14 exists; defining and exempting from tax, transfers to
15 certain persons or for certain purposes or of certain
16 property; providing for the valuation of property and
17 interests in property, the transfer of which is subject
18 to tax; defining and allowing deductions from the value
19 of property, the transfer of which is subject to tax;
20 providing for the persons ultimately liable for taxes in
21 the absence of a direction by the decedent to the
22 contrary; providing for the reporting of transfers and
23 collection of taxes; imposing penalties upon banks or
24 other financial institutions for failure to give notice
25 to the Department of Revenue of the death of a party to a
26 joint or trust deposit therein and upon persons who fail
27 to file tax returns and documents; providing for the
28 compromise of taxes in the case of alleged nonresidents
29 of the Commonwealth; making it unlawful for any person to
30 make a false return or report; providing for liens upon
31 real property, the transfer of which is subject to tax,
32 and release thereof; authorizing the Secretary of Revenue
1 to bring suits in other jurisdictions for the collection
2 of taxes, and authorizing officials of other
3 jurisdictions to bring suits in the Commonwealth for the
4 collection of death taxes imposed by their jurisdictions;
5 providing for the refund of taxes to which the
6 Commonwealth is not rightfully or equitably entitled;
7 providing for appeals and protests from the imposition of
8 taxes; regulating the entry into safe deposit boxes of a
9 decedent by certain persons, and providing penalties;
10 dealing with the jurisdiction, powers and procedure of
11 the orphans' court, Secretary of Revenue, Department of
12 Revenue, Attorney General, and register of wills in
13 matters relating to taxes; and citing certain acts for
14 repeal," extending the discount time on inheritance tax.
15 The General Assembly of the Commonwealth of Pennsylvania
16 hereby enacts as follows:
17 Section 1. Section 716, act of June 15, 1961 (P.L.373,
18 No.207), known as the "Inheritance and Estate Tax ACt of
19 1961," is amended to read:
20 Section 716. Discount.--To the extent that the
21 inheritance tax is paid within [three (3)] six (6) months
22 after the death of the decedent, a discount of five (5)
23 percent shall be allowed.
24 Section 2. This act shall take effect in 60 days.
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