PRINTER'S NO. 477
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
532
Session of
2023
INTRODUCED BY VOGEL, HAYWOOD, BROOKS, FONTANA, COMITTA, KEARNEY,
COSTA, ARGALL, ROBINSON, PENNYCUICK, BARTOLOTTA, COLLETT,
LAUGHLIN, CAPPELLETTI, L. WILLIAMS, BREWSTER, STEFANO,
STREET, DiSANTO, DILLON, MILLER AND YAW, MARCH 15, 2023
REFERRED TO URBAN AFFAIRS AND HOUSING, MARCH 15, 2023
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in realty transfer tax, further providing for
transfer of tax.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1102-C.6(b) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, amended
November 3, 2022 (P.L.1695, No.108), is amended to read:
Section 1102-C.6. Transfer of Tax.--* * *
(b) The amount transferred under subsection (a) may not
exceed the following:
(1) For each fiscal year beginning after June 30, 2019, and
ending prior to July 1, 2023, forty million dollars
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($40,000,000).
[(2) For the fiscal year beginning July 1, 2023, and each
fiscal year thereafter, sixty million dollars ($60,000,000).]
(3) For the fiscal year beginning July 1, 2023, eighty
million dollars ($80,000,000).
(4) For the fiscal year beginning July 1, 2024, ninety
million dollars ($90,000,000).
(5) For the fiscal year beginning July 1, 2025, and each
fiscal year thereafter, one hundred million dollars
($100,000,000).
* * *
Section 2. Nothing in this act shall be construed to
increase the rate of tax imposed under section 1102-C of the
act.
Section 3. This act shall take effect in 60 days.
20230SB0532PN0477 - 2 -
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