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PA HB1394
Bill
Status
Introduced
5/5/2025
Primary Sponsor
Valerie Gaydos
Click for details
AI Summary
- Repeals Article XXI of the Tax Reform Code of 1971, which contains all provisions governing Pennsylvania's inheritance tax on property transfers at death
- Eliminates inheritance tax rates that currently range from 0% (spouses) to 4.5% (lineal descendants) to 12% (siblings) to 15% (other beneficiaries)
- Removes exemptions for agricultural land, family-owned businesses, life insurance proceeds, and various government benefits that were previously exempt from inheritance tax
- Applies to estates of decedents who die after the effective date, which is 60 days after enactment
- Amends related provisions in the Tax Reform Code regarding reassessment petitions and government obligation taxability to remove references to the repealed inheritance tax
Legislative Description
Repealing provisions relating to inheritance tax; in procedure and administration, further providing for petition for reassessment; and, in governmental obligations, further providing for taxability of government obligations.
Last Action
Referred to Finance
5/5/2025
Committee Referrals
Finance5/5/2025
Full Bill Text
No bill text available