Bill Information

An Act providing for tax levies and information related to taxes; authorizing the imposition of a personal income tax or an earned income tax by a school district subject to voter approval; providing for imposition of and exclusions from a sales and use tax for education; establishing the Public Transportation Reserve Fund; providing for increase to the personal income tax and realty transfer tax, for certain licenses, for hotel occupancy tax, for procedure and administration of the tax, for basic education funding for 2006-2007 fiscal year, for expiration of authority to issue certain debt, for reporting by local government units of debt outstanding and for assumption of certain debt by the Commonwealth; establishing the Education Operating Fund and the School District Grant and Incentive Programs Fund; providing for disbursements from these funds and for transfers from the Property Tax Relief Fund to the Education Operating Fund; establishing the School Financing Authority and providing for its powers and duties; providing for certain rebates and assistance to senior citizens; adding provisions relating to school district fiscal efficiency; establishing the School Equity Capital Construction Fund and the School Equity Distribution Task Force; and repealing certain provisions of The Local Tax Enabling Act, sales and use tax provisions of the Tax Reform Code of 1971 and provisions relating to senior citizens property tax and rent rebate assistance in the Taxpayer Relief Act.