Senate Bill 1479 Printer's Number 1959

PENNSYLVANIA, September 25 - Law, is amended to read:

AN ACT

[To provide revenue for State and county purposes, and, in

cities coextensive with counties, for city and county

purposes; imposing taxes upon certain classes of personal

property; providing for the assessment and collection of the

same; providing for the duties and compensation of

prothonotaries and recorders in connection therewith; and

modifying existing legislation which provided for raising

revenue for State purposes.] Prohibiting a political

subdivision from levying a tax on the ownership, holding or

possession of personal property, including intangible

personal property, within this Commonwealth.

Section 2. Sections 1, 1.1, 2, 3, 4, 4.1, 4.2, 5, 5.1, 5.2,

5.3, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16 and 19 of the act

are repealed:

[Section 1. Be it enacted, &c., That all personal property

of the classes hereinafter enumerated, owned, held or possessed

by any resident, which, as used in this section, shall mean any

person, persons, copartnership, or unincorporated association or

company, resident, located, or liable to taxation within this

Commonwealth, or by any joint-stock company or association,

limited partnership, bank or corporation whatsoever, formed,

erected or incorporated by, under, or in pursuance of any law of

this Commonwealth or of the United States, or of any other state

or government, and liable to taxation within this Commonwealth,

whether such personal property be owned, held, or possessed by

such resident in his, her, their, or its own right, or as active

trustee, agent, attorney-in-fact, or in any other capacity, or

by any resident as trustee, agent or attorney-in-fact, jointly

20260SB1479PN1959 - 2 -

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