summary
Introduced
01/19/2023
01/19/2023
In Committee
05/08/2024
05/08/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
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 inheritance tax, further providing for expenses.
AI Summary
This bill amends the Pennsylvania Tax Reform Code of 1971 to further provide for expenses that can be deducted from the value of property transferred in an inheritance tax. The key provisions include allowing a family exemption of up to $100,000 to be deducted from the taxable estate if claimed by a member of the same family, and clarifying that certain expenses such as administration, funeral and burial, and religious services can be deducted. The amendments apply to property transferred after June 30, 2023 and the bill takes effect immediately.
Committee Categories
Budget and Finance
Sponsors (10)
Michele Brooks (R)*,
Lisa Baker (R),
Jim Brewster (D),
Jay Costa (D),
John DiSanto (R),
Chris Gebhard (R),
Scott Martin (R),
Doug Mastriano (R),
Pat Stefano (R),
Judy Ward (R),
Last Action
Re-referred to APPROPRIATIONS (on 05/08/2024)
Official Document
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bill summary
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bill summary
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