following:
(A) So long as a rate variance is in effect, the rate
applicable to other real estate may COMBINED RATE OF TAXES ON
REAL ESTATE USED FOR BUSINESS PURPOSES IMPOSED BY THE CITY OF
THE FIRST CLASS OR AUTHORIZED BY THE CITY OF THE FIRST CLASS FOR
ITS SCHOOL DISTRICT SHALL not vary by more than fifteen percent
from the rate applicable to real estate used for business
purposes COMBINED RATE OF TAXES ON OTHER REAL ESTATE IMPOSED OR
AUTHORIZED BY THE CITY OF THE FIRST CLASS .
(B) The General Assembly shall require the city of the first
class to reduce the aggregate revenue from other taxes imposed
for the benefit of the city of the first class both on
businesses and any wage and net profits tax by the amount of any
real estate tax revenues attributable to the variance.
* * *
Section 2. (a) Upon the first passage by the General
Assembly of this proposed constitutional amendment, the
Secretary of the Commonwealth shall proceed immediately to
comply with the advertising requirements of section 1 of Article
XI of the Constitution of Pennsylvania and shall transmit the
required advertisements to two newspapers in every county in
which such newspapers are published in sufficient time after
passage of this proposed constitutional amendment.
(b) Upon the second passage by the General Assembly of this
proposed constitutional amendment, the Secretary of the
Commonwealth shall proceed immediately to comply with the
advertising requirements of section 1 of Article XI of the
Constitution of Pennsylvania and shall transmit the required
advertisements to two newspapers in every county in which such
newspapers are published in sufficient time after passage of
20160HB1871PN3620 - 2 -
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