PRIOR PRINTER'S NO. 1442
PRINTER'S NO. 1563
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
1316
Session of
2023
INTRODUCED BY INNAMORATO, KHAN, TWARDZIK, MAJOR, KUTZ, MADDEN,
SIEGEL, HILL-EVANS, KINSEY, BENHAM, GUENST, CERRATO, DELLOSO,
KRAJEWSKI, SANCHEZ, T. DAVIS, SMITH-WADE-EL, GERGELY,
A. BROWN, STEELE AND PARKER, JUNE 5, 2023
AS REPORTED FROM COMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT,
HOUSE OF REPRESENTATIVES, AS AMENDED, JUNE 13, 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 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.--[(a) Subject to
subsection (b), beginning July 31, 2019, and each July 31
thereafter, the State Treasurer shall transfer from the General
Fund to the Housing Affordability and Rehabilitation Enhancement
Fund under Article IV-D of the act of December 3, 1959
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(P.L.1688, No.621), known as the "Housing Finance Agency Law,"
an amount equal to forty per cent of the difference between:
(1) the total amount of the tax imposed under section 1102-C
and collected by the Commonwealth for the prior fiscal year; and
(2) the total dollar amount of such tax estimated for the
fiscal year beginning July 1, 2014, and as contained in the
final estimate signed by the Governor for that fiscal year as
required by section 618 of the act of April 9, 1929 (P.L.177,
No.175), known as "The Administrative Code of 1929."
(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
($40,000,000).
(2) For the fiscal year beginning July 1, 2023, and each
fiscal year thereafter, sixty million dollars ($60,000,000).]
(a.1) Beginning July 31, 2023, and each July 31 thereafter,
the State Treasurer shall transfer from the General Fund to the
Housing Affordability and Rehabilitation Enhancement Fund under
Article IV-D of the act of December 3, 1959 (P.L.1688, No.621),
known as the "Housing Finance Agency Law," the total amount of
the tax imposed under section 1102-C and collected by the
Commonwealth for the prior fiscal year.
(c) Nothing in this section shall be construed to reduce or
prohibit increased funding for the Housing Affordability and
Rehabilitation Enhancement Fund or the Keystone Recreation, Park
and Conservation Fund as provided in the "Housing Finance Agency
Law" or other law.
Section 2. This act shall take effect in 60 days.
SECTION 1102-C.6. TRANSFER OF TAX.--* * *
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(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
($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.
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