Bill Information

An Act amending the act of July 5, 2004 (P.L.654, No.72), known as the Homeowner Tax Relief Act, further defining "personal income valuation," "fund," "income tax" and "personal income tax"; further providing for limitations, for certain rates of taxation limited, for general tax authorization, for exemption and special provisions, for regulations, for property tax limits on reassessment, for qualifying contribution, for adoption of referendum, for public referendum requirements for increasing certain taxes, for disposition of income tax revenue and property tax reduction allocations, for register for taxes and for effect of nonfiling; further defining "allocation maximum," "allocation minimum," "income tax," "property tax reduction index," "qualifying contribution" and "school tax ratio"; and further providing for certification and calculation of minimum and maximum modifiers and for State property tax reduction allocation.