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Committee reviews property transfer tax allocation changes after Act 181
Summary
Committee staff explained how Act 181 altered property transfer tax percentages set in the main budget and how the Budget Adjustment Act language reconciles the two laws.
Adam Greshin, the commissioner of Finance and Management, told the House Appropriations Committee on Jan. 14 that Budget Adjustment Act language in Section 50 reconciles differences between the main fiscal bill (Act 113) and later legislation, Act 181, which changed how the property transfer tax is allocated.
Greshin said Act 181, which passed after the fiscal bill, modified the percentages that direct portions of…
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