PRINTER'S NO. 3100
No. 2384 Session of 1996
INTRODUCED BY CLYMER, GEIST, BAKER, MARKOSEK, TRELLO, SAYLOR,
ROHRER, SATHER, BROWN, L. I. COHEN, FICHTER, YOUNGBLOOD AND
MERRY, FEBRUARY 7, 1996
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 7, 1996
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," further providing for the exclusion from transfer
11 tax for certain conveyances involving nonprofit industrial
12 development agencies or authorities.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 1102-C.3(15) of the act of March 4, 1971
16 (P.L.6, No.2), known as the Tax Reform Code of 1971, added July
17 2, 1986 (P.L.318, No.77), is amended to read:
18 Section 1102-C.3. Excluded Transactions.--The tax imposed by
19 section 1102-C shall not be imposed upon:
20 * * *
21 (15) A transfer from a nonprofit industrial development
22 agency or authority to a grantee purchasing directly from it,
1 but only if:
2 (i) [the grantee shall directly use such real estate] such
3 real estate is used by grantee or lessee of grantee for the
4 primary purpose of manufacturing, fabricating, compounding,
5 processing, publishing, research and development,
6 transportation, energy conversion, energy production, pollution
7 control, warehousing [or], agriculture, retail or wholesale; and
8 (ii) the agency or authority has the full ownership interest
9 in the real estate transferred.
10 * * *
11 Section 2. This act shall take effect immediately.
L18L72JS/19960H2384B3100 - 2 -