Friday, June 03, 2005

HB 27: Historic Homesite Tax Credits and Tax Exemptions

H.B. 27, P.N. 30 (TANGRETTI) This would amend the Tax Reform Code, Act 2 of 1971, P.L. 6.
This would create a tax exclusion of tangible personal property or services used in the rehabilitation or restoration of a designated historic homesite. A tax credit for 20% of such total costs would be created. The sale or transfer of a historic homesite would be exempt from the realty transfer tax.

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What does historic mean/ 10 years, 20 years, 100 years?

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