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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | February 3, 2015 02:10 PM |
|---|---|
| From: | Representative Scott A. Petri |
| To: | All House members |
| Subject: | Pennsylvania Property Tax Elimination Act - Former House Bill 625 |
| In the near future, I plan to reintroduce legislation from last session that will establish the Pennsylvania Property Tax Elimination Act. The legislation is intended to eliminate the school property tax for all tax years beginning after December 31, 2013. To accomplish this, my legislation will place a cap on school property tax rates and transfer monies from the Budget Stabilization Reserve Fund and the Property Tax Relief Reserve Fund. In addition, the legislation will require the Department of Education (PDE) to obtain information from all school districts that details the difference between revenues raised under the real property tax rate cap and the total amount of revenues that would otherwise be permitted to be generated under the current provisions of the Taxpayer Relief Act. If it is determined by PDE that insufficient funds exist to generate required revenues, PDE shall reduce each school district allocation pro rata. My bill will also immediately eliminate property tax bills for those over the age of 65 whose household incomes are less than $40,000 annually by creating the Property Tax Assistance Program. To be eligible for the program, claimants must file a Department of Revenue (DOR)-generated application along with a copy of their school property tax invoice with DOR 45 days prior to the invoice’s due date. This program will be funded by the Property Tax Relief Fund through annual transfers from the State Lottery Fund. If you have any questions, or if you would like to request a copy of the legislation, please contact Lea Farrell at 787-9033 or lfarrell@pahousegop.com. |