Title
Amending Section 10-1000 of The Philadelphia Code, entitled “Fees,” to exempt the Land Bank from paying City recording fees in connection with property it acquires; amending Chapter 16-700, entitled “Philadelphia Land Bank,” to provide for the leasing out of Land Bank property; and amending Chapter 19-1400, entitled “Realty Transfer Tax,” to exempt the Land Bank, and certain transactions involving the Land Bank, from payment of realty transfer tax; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 10-1000 of The Philadelphia Code is amended to read as follows:
CHAPTER 10-1000. FEES.
§ 10-1001. Fees of Commissioner of Records.
* * *
(3) The Philadelphia Land Bank shall be exempt from the payment of fees under this Section in connection with its acquisition of property.
* * *
SECTION 2. Chapter 16-700 of The Philadelphia Code is amended to read as follows:
CHAPTER 16-700. PHILADELPHIA LAND BANK.
* * *
§ 16-707. Disposition of Property.
* * *
(6) Notwithstanding the provisions of subsection (1) above pertaining to approvals by Council and the Vacant Property Review Committee, the Land Bank is authorized, without further approvals, to lease out any property owned by the Land Bank for a lease term of one year or less. The Land Bank shall comply with subsections (1)(a), (1)(b) and the public notice and opportunity to comment provisions of (1)(c) in connection with such a lease.
* * *
SECTION 3. Chapter 19-1400 of The Philadelphia Code is amended to read as follows:
CHAPTER 19-1400. REALTY TRANSFER TAX.
* * *
§ 19-1404. Exempt Parties.
The United States, the Commonwealth, or any of their instrumentalities, agencies or political subdivisions and the Philadelphia Land Bank shall be exempt from payment of the tax imposed by this article. The exemption of such governmental bodies shall not, however, relieve any other party to a transaction from liability for the tax.
* * *
§ 19-1405. Excluded Transactions.
The tax imposed by Section 19-1403 shall not be imposed upon:
* * *
(1) A transfer to the Commonwealth, or to any of its instrumentalities, agencies or political subdivisions, or to the Philadelphia Land Bank, by gift, dedication or deed in lieu of condemnation or deed of confirmation in connection with condemnation proceedings, or a reconveyance by the condemning body of the property condemned to the owner of record at the time of condemnation which reconveyance may include property line adjustments provided said reconveyance is made within one year from the date of condemnation.
* * *
(3) A conveyance to a municipality, township, school district, land bank or county pursuant to acquisition by [the municipality, township, school district or county] such entity of a tax delinquent property at sheriff sale or tax claim bureau sale.
* * *
(22) A transfer for no or nominal actual consideration of property conveyed pursuant to the provisions of Chapter 16-400 or Chapter 16-700 of The Philadelphia Code.
* * *
___________________________________
Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
End