Pennsylvania House Bill HB1406

Pennsylvania 2023-2024 Regular Session

• Introduced: 6/14/23
• Refer: 6/14/23

Caption

In realty transfer tax, further providing for excluded transactions.

Impact

The passage of HB 1406 would significantly impact how the Realty Transfer Tax is applied in Pennsylvania, ensuring that families of fallen emergency personnel are not subjected to additional financial strain when transferring ownership of their homes. The bill clearly delineates the circumstances under which this exemption applies, including the timeframe of the transfer in relation to the covered individual’s death. This change seeks to recognize the sacrifices made by these individuals while offering support to their families.

Summary

House Bill 1406 focuses on amendments to the Realty Transfer Tax under the Tax Reform Code of 1971. The bill specifically provides exemptions to the realty transfer tax for transactions involving surviving spouses and minor children of individuals who have died while performing duties as emergency and law enforcement personnel. This legislation aims to alleviate the financial burden on families during an already difficult time by eliminating the tax on certain property transfers under specified conditions.

Sentiment

The sentiment surrounding HB 1406 appears to be generally favorable, particularly among lawmakers and organizations advocating for the welfare of emergency and law enforcement personnel. Supporters highlight the importance of honoring those who have served by providing tangible assistance to their families following their loss. This supportive sentiment contrasts with a potential criticism that might arise regarding the implications for tax revenue, though the focus remains on the bill's humanitarian benefits.

Contention

While there may be little opposition to the intent of the bill, contentions could arise around the specifics of the exemptions. Discussions might focus on the eligibility criteria for the exemption and how strictly these are defined. There may also be debates regarding potential loopholes or challenges in the administration of the new provisions, ensuring that the benefits reach the intended families without unnecessary complications in the transfer process.