Test Drive Our New Site! We have some improvements in the works that we're excited for you to experience. Click here to try our new, faster, mobile friendly beta site. We will be maintaining our current version of the site thru the end of 2024, so you can switch back as our improvements continue.
Legislation Quick Search
07/21/2024 09:06 PM
Pennsylvania State Senate
Home / Senate Co-Sponsorship Memoranda

Senate Co-Sponsorship Memoranda

Subscribe to PaLegis Notifications

Subscribe to receive notifications of new Co-Sponsorship Memos circulated

By Member | By Date | Keyword Search

Senate of Pennsylvania
Session of 2017 - 2018 Regular Session


Posted: December 5, 2016 04:37 PM
From: Senator David G. Argall
To: All Senate members
Subject: Amending the Transfer Inheritance Tax Law
In the near future, I will introduce legislation that will update the formula by which counties and the Pennsylvania Department of Revenue share inheritance tax proceeds.

Counties are currently tasked with collecting inheritance taxes and disbursing it under the following formula:

$1 - $200,000 collected in any calendar year – 4.25 percent is retained by the county (to remain the same under my legislation)

$200,000 - $1 million collected in any calendar year – 1.75 percent is retained by the county (to remain the same under my legislation)

$1 million and above collected in any calendar year - .5 percent is retained by the county (to be increased from .5% to 1% under my legislation)

All proceeds above the percentages retained by the county are submitted to the Department of Revenue.

My legislation will change the formula for proceeds above the $1 million threshold from .5 percent to 1 percent to be retained by counties. In light of the fact that the money is generated within a given county and the county Register of Wills is tasked with collecting the funds, this formula will allow for a fairer distribution of these funds.

This legislation will be identical to Senate Bill 939 of 2015, which was cosponsored by Senators Vulakovich, Eichelberger, Costa and McIlhinney.

Introduced as SB423