PRINTER'S NO. 856
No. 770 Session of 2001
INTRODUCED BY ORIE, GORDNER, READSHAW, THOMAS, CURRY, M. BAKER,
PRESTON, ARMSTRONG, STABACK, FLICK, PETRARCA, L. I. COHEN,
CAWLEY, BELARDI, FAIRCHILD, MELIO, KENNEY, LAUGHLIN, SOLOBAY,
SURRA, TRICH, YOUNGBLOOD, FREEMAN, DeWEESE, C. WILLIAMS,
HENNESSEY, PIPPY, FRANKEL, ROBERTS, WOJNAROSKI, RUBLEY,
BROWNE, B. SMITH, ADOLPH, GABIG, DALLY, McCALL, BELFANTI,
COSTA, E. Z. TAYLOR, GRUCELA, WILT, PISTELLA, SHANER,
SAINATO, STEELMAN, HORSEY, GEIST, CIVERA AND YUDICHAK,
FEBRUARY 14, 2001
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 14, 2001
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," exempting long-term care insurance premiums from
11 inheritance tax.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Section 2111 of the act of March 4, 1971 (P.L.6,
15 No.2), known as the Tax Reform Code of 1971, is amended by
16 adding a subsection to read:
17 Section 2111. Transfers Not Subject to Tax.--* * *
18 (s) An amount equal to the premiums paid by the decedent or
19 the decedent's heirs for long-term care insurance for the
1 benefit of the decedent for a period of up to ten years prior to
2 the decedent's death. Receipts, premium notices or cancelled
3 checks may be considered as establishing documentation for a
4 transfer under this subsection.
5 Section 2. This act shall take effect in 60 days.
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