1Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2act relating to tax reform and State taxation by codifying
3and enumerating certain subjects of taxation and imposing
4taxes thereon; providing procedures for the payment,
5collection, administration and enforcement thereof; providing
6for tax credits in certain cases; conferring powers and
7imposing duties upon the Department of Revenue, certain
8employers, fiduciaries, individuals, persons, corporations
9and other entities; prescribing crimes, offenses and
10penalties," further providing for joint tenancy.

11The General Assembly of the Commonwealth of Pennsylvania
12hereby enacts as follows:

13Section 1. Section 2108 of the act of March 4, 1971 (P.L.6, 
14No.2), known as the Tax Reform Code of 1971, amended or added
15August 4, 1991 (P.L.97, No.22) and June 30, 1995 (P.L.139, 
16No.21), is amended to read:

17Section 2108. Joint Tenancy.--(a) When any property is held
18in the names of two or more persons or is deposited in a
19financial institution in the names of two or more persons so
20that, upon the death of one of them, the survivor or survivors
21have a right to the immediate ownership or possession and

1enjoyment of the whole property, the accrual of such right, upon
2the death of one of them, shall be deemed a transfer subject to
3tax of a fractional portion of such property to be determined by
4dividing the value of the whole property by the number of joint
5tenants in existence immediately preceding the death of the
6deceased joint tenant.

7(b) (1) Except as provided in subsection (c), this section
8shall not apply to property or interests in property passing by
9right of survivorship to the survivor of husband and wife.

10(2) Notwithstanding the provisions of subsection (c), this
11section shall not apply to any property interest in a joint
12account deposited in a financial institution passing by right of
13survivorship to the survivor who funded the entire account.

14(c) If the co-ownership was created within one year prior to
15the death of the co-tenant, the entire interest transferred
16shall be subject to tax only under, and to the extent stated in,
17subsection (c)(3) of section 2107 as though a part of the estate
18of the person who created the co-ownership.

19Section 2. This act shall apply to estates of decedents
20dying on or after January 1, 2014, without regard to the date of
21transfer.

22Section 3. This act shall take effect immediately.