PRINTER'S NO. 978
No. 868 Session of 1983
INTRODUCED BY STUBAN, LAUGHLIN, HASAY, JAROLIN, CAWLEY,
PETRARCA, BLAUM, SERAFINI, LUCYK, SHOWERS, BELFANTI, TIGUE,
WARGO, BATTISTO, PHILLIPS, BELARDI, GRIECO, LETTERMAN, DALEY,
W. W. FOSTER, F. E. TAYLOR, COSLETT, KLINGAMAN, DAVIES,
LESCOVITZ, PISTELLA, McCALL, FREEMAN, McHALE, CLARK, WAMBACH,
KOWALYSHYN, GALLAGHER, DOMBROWSKI, STEIGHNER, KASUNIC, MORRIS
AND ALDERETTE, APRIL 26, 1983
REFERRED TO COMMITTEE ON FINANCE, APRIL 26, 1983
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 maintenance-of-way tax
11 credits.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Section 1101.2(e) of the act of March 4, 1971
15 (P.L.6, No.2), known as the Tax Reform Code of 1971, added March
16 27, 1980 (P.L.60, No.24), is amended to read:
17 Section 1101.2. Credit Against Tax.--* * *
18 (e) No railroad company shall be entitled to receive the
19 credit established pursuant to this section unless and until
20 such railroad company agrees, in writing, that whenever such
1 railroad company abandons any part of its right-of-way, the
2 abandoned portion of its right-of-way [shall] may be transferred
3 to the [Department of Environmental Resources] State Railroad
4 Commission at fair market value within [five] two years of the
5 abandonment proceeding. The railroad company will continue to
6 pay any or all real property taxes imposed on such abandoned
7 right-of-way, or in lieu of such payment, then the property
8 shall be conveyed to the Commonwealth to be used for
9 [recreational] rail preservation purposes.
10 * * *
11 Section 2. This act shall take effect immediately.
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