HB 116: Realty Transfer Tax
H.B. 116, P.N. 912 (WILT) This would amend the Local Tax Enabling Act 511 of 1965, P.L. 1257.
A second, third, and fourth class school district would collect the realty transfer tax revenues through June 30,2007, after which such revenues would be collected by the Revenue Department and deposited into the Education Operating Fund. Such a district would be able to issue a realty transfer tax at a rate equal to or less than the rate that is in effect on July 1, 2005.