PRINTER'S NO. 1573
No. 1370 Session of 1997
INTRODUCED BY L. I. COHEN, MARKOSEK, JAMES AND CURRY,
APRIL 17, 1997
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, APRIL 17, 1997
AN ACT
1 Providing for a condominium fee tax credit to be applied against
2 the residential real property tax.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Definitions.
6 The following words and phrases when used in this act shall
7 have the meanings given to them in this section unless the
8 context clearly indicates otherwise:
9 "Condominium fee." A monthly fee for security, snow removal,
10 street repair and utilities.
11 Section 2. Condominium fee tax credit.
12 (a) Credit.--An individual who is required to make monthly
13 condominium fee payments shall be entitled to a tax credit to be
14 taken against the real property tax levied by a city, borough or
15 township in accordance with subsection (b).
16 (b) Calculation of credit.--The amount of the tax credit
17 shall be equal to 10% of the annual condominium fee paid by the
1 individual. The credit must be applied against taxes due in the
2 current tax year. The credit may not be carried back to prior
3 tax years, nor may it be carried forward to future tax years.
4 Section 3. Effective date.
5 This act shall take effect immediately.
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