PRINTER'S NO. 1460
No. 1321 Session of 1993
INTRODUCED BY FLICK, TRELLO, FAIRCHILD, PITTS, LAUGHLIN,
MICOZZIE, FARMER, REBER, GODSHALL, E. Z. TAYLOR, WOGAN,
BAKER, BUNT AND SEMMEL, APRIL 21, 1993
REFERRED TO COMMITTEE ON FINANCE, APRIL 21, 1993
AN ACT
1 Amending the act of June 17, 1913 (P.L.507, No.335), entitled
2 "An act to provide revenue for State and county purposes,
3 and, in cities coextensive with counties, for city and county
4 purposes; imposing taxes upon certain classes of personal
5 property; providing for the assessment and collection of the
6 same; providing for the duties and compensation of
7 prothonotaries and recorders in connection therewith; and
8 modifying existing legislation which provided for raising
9 revenue for State purposes," providing an exemption for the
10 market value of money market accounts.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. The act of June 17, 1913 (P.L.507, No.335),
14 referred to as the Intangible Personal Property Tax Law, is
15 amended by adding a section to read:
16 Section 1.2. Notwithstanding any other provisions of this
17 act, the tax imposed under this act shall not apply to any part
18 of the monetary market value of a money market account.
19 Section 2. This act shall apply to tax years commencing on
20 January 1, 1994, and to each tax year thereafter.
21 Section 3. If enacted after January 1, 1994, this act shall
1 be retroactive to that date.
2 Section 4. This act shall take effect immediately.
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