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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | December 9, 2014 02:45 PM |
|---|---|
| From: | Representative Anthony M. DeLuca |
| To: | All House members |
| Subject: | Inheritance Tax |
| In the near future I will be re-introducing legislation (HB 223 of 2013) amending the Tax Reform Code to reduce the rates and then phase out the Commonwealth’s death tax. The phase out will occur in two steps with rates cut in half for the estates of decedents dying on or after January 1, 2017 and the tax fully eliminated January 1, 2019. Thus for the first rate cut, the rate for the property passing to a father, mother, child or grandchild, the rate will be 2.25%. For all other transferees, the rate will be 7.5%. There seems little doubt that repeal of the inheritance tax will put more revenue back into the hands of Pennsylvanians, which will ultimately benefit the state’s economy. Please join me as a co-sponsor of this legislation. |