PRIOR PRINTER'S NO.

422 PRINTER'STHE NO.GENERAL ASSEMBLY OF PENNSYLVANIA SENATE BILL Session of No.

947430 THE2017 GENERALINTRODUCED ASSEMBLYBY OFRAFFERTY, PENNSYLVANIASCAVELLO, SENATETARTAGLIONE, BILLHUTCHINSON, SessionCOSTA, BREWSTER, BAKER, WARD AND AUMENT, FEBRUARY 27, 2017 REFERRED TO FINANCE, FEBRUARY 27, 2017 AN ACT Ameact relating to tax reform and State taxation by codifying and enumerating certain subjects of No.taxation and imposing taxes thereon;

430providing 2017procedures INTRODUCEDfor BY RAFFERTY, SCAVELLO, TARTAGLIONE, HUTCHINSON, COSTA, BREWSTER, BAKER, WARD, AUMENT, DINNIMAN AND YUDICHAK, FEBRUARY 27, 2017 AS AMENDED ON SECOND CONSIDERATION, JUNE 13, 2017 AN ACT Amending the actpayment, of March 4, 1971 (P.L.6, No.2), entitled "An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing collection, administration and enforcement thereof;

prescribing crimes, offenses and penalties,"excluded intransactions.transfer realty transfer tax, further providing for excludedThe transactions.General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:

The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:

Section 1102-C.3(18) of the act of March 4, 1971 <-- (P.L.6, No.2), known as the Tax Reform Code of 1971, is amended by adding a clause to read:

SECTION 1.

SECTION 1102-C.3 OF THE ACT OF MARCH 4, 1971 <-- (P.L.6, NO.2), KNOWN AS THE TAX REFORM CODE OF 1971, IS AMENDED BY ADDING A PARAGRAPH TO READ:

<-- * * * (vii) a transfer for no or nominal actual consideration from a not-for-profit corporation, all of the voting members of which are members of a veterans organization that is a not-for-profit corporation, to the veterans organization.

* * * (25)Section A2. TRANSFER FOR NO OR NOMINAL CONSIDERATION BETWEEN A <-- VETERANS ORGANIZATION AND AN AFFILIATED NONPROFIT ORGANIZATION THAT IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS TAX EXEMPT UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE OF 1986 (PUBLIC LAW 99-514, 26 U.S.C.

§ 1 ET SEQ.).

Section 2.

20170SB0430PN094720170SB0430PN0422 - 2 -