PRINTER'S NO. 1089
No. 953 Session of 1975
INTRODUCED BY WILSON, O'CONNELL AND BURNS, APRIL 8, 1975
REFERRED TO COMMITTEE ON FINANCE, APRIL 9, 1975
AN ACT
1 Amending the act of December 17, 1951 (P.L.1742, No.467),
2 entitled, as amended, "An act to provide revenue by imposing
3 a State tax relating to certain documents and transactions;
4 prescribing and regulating the method and manner of
5 evidencing the payment of such tax; conferring powers and
6 imposing duties upon certain persons, partnerships,
7 associations, and corporations, sheriffs, recorders of deeds,
8 and the Department of Revenue; saving certain State and local
9 taxes and authorizing amendments, extensions and supplements
10 to the ordinances and resolutions relating thereto; and
11 providing penalties," excepting from the tax for a temporary
12 period certain realty transfers for certain new residential
13 housing.
14 The General Assembly of the Commonwealth of Pennsylvania
15 hereby enacts as follows:
16 Section 1. The act of December 27, 1951 (P.L.1742, No.467),
17 known as "The Realty Transfer Tax Act," reenacted and amended
18 February 9, 1961 (P.L.13, No.9), is amended by adding a section
19 to read:
20 Section 3.2. (a) The tax imposed by section 3 shall not
21 apply to any document representing a newly constructed residence
22 bought at fifty thousand dollars ($50,000) or less for
23 occupation by the owner or by his and one other family.
24 (b) In lieu of payment of the tax, the property-acquiring
1 owner shall submit an affidavit to the recorder of deeds or tax
2 stamp agent at the time of submission for recording or
3 acquisition as the case may be, stating compliance with the
4 requirements of this act.
5 (c) The department shall provide for refunds to qualified
6 property-acquiring owners for taxes paid between January 1, 1975
7 and the date of final enactment of this amending act.
8 (d) The department with the advice of the Department of
9 Commerce shall promulgate rules, regulations and forms for the
10 administration of this section pursuant to the Commonwealth
11 Documents Law and make such forms available at the offices of
12 the recorder of deeds and other agents for the sale of tax
13 stamps.
14 Section 2. This amending act shall take effect immediately
15 and shall apply retroactively from January 1, 1975 and until
16 December 31, 1976.
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