PRINTER'S NO. 121
No. 124 Session of 2003
INTRODUCED BY O'PAKE, KUKOVICH, SCHWARTZ, COSTA, MUSTO, WOZNIAK,
KITCHEN, LOGAN, THOMPSON, STOUT, GREENLEAF, BOSCOLA AND
KASUNIC, FEBRUARY 3, 2003
REFERRED TO FINANCE, FEBRUARY 3, 2003
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 excluded transactions.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. Section 1102-C.3 of the act of March 4, 1971
14 (P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
15 by adding a clause to read:
16 Section 1102-C.3. Excluded Transactions.--The tax imposed by
17 section 1102-C shall not be imposed upon:
18 * * *
19 (23) A transfer for the purpose of constructing or
20 rehabilitating affordable owner-occupied housing to a public
21 housing authority or a nonprofit corporation possessing a tax-
1 exempt status pursuant to section 501(c) of the Internal Revenue
2 Code of 1954.
3 Section 2. This act shall take effect in 60 days.
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