An Act amending the act of April 18, 2016 (P.L.128, No.17), known as the Pennsylvania ABLE Act, in exemptions, providing for exclusion of contributions for purposes of determining need for disabled veterans' real estate tax exemption.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies the Pennsylvania ABLE Act to clarify how contributions to ABLE savings accounts are treated when determining eligibility for a disabled veterans’ real estate tax exemption. Specifically, it excludes contributions made during a calendar year from being considered income for this exemption determination. This change aims to provide greater financial assistance to disabled veterans who also qualify for the real estate tax exemption.
Key provisions
- Excludes contributions to ABLE savings accounts from income calculations.
- Applies to determinations of need made on or after January 1, 2027.
- Addresses the need for disabled veterans' real estate tax exemption.
- Modifies the Pennsylvania ABLE Act.
- Relates to 51 Pa.C.S. Ch. 89 (relating to disabled veterans' real estate tax exemption).
Who is affected
- Disabled veterans
- Individuals with disabilities
- Pennsylvania taxpayers
- The Pennsylvania Treasury Department
- Real estate owners
Notable changes
- Provides an exclusion for ABLE contributions when assessing need for the disabled veterans’ real estate tax exemption.
- Clarifies the interaction between the ABLE Act and the real estate tax exemption.
Bill text
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Document of record
- Version
- Pn 1783 Html
- Published
- Not published in the source record
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Sponsors
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9 on record
Primary sponsor
Cosponsors
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