Title
Amending Chapter 19-1400 of The Philadelphia Code, entitled “Realty Transfer Tax,” by excluding from the tax a transfer of property between the Philadelphia Housing Authority (PHA) and a Pennsylvania Limited Partnership (PLP) whose General Partner PHA owns and controls; and a transfer of property from PHA or a PHA-controlled PLP to a wholly owned subsidiary of PHA; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-1400 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-1400. REALTY TRANSFER TAX.
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§19-1405. Excluded Transactions.
The tax imposed by Section 19-1403 shall not be imposed upon:
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(29) A transfer between the Philadelphia Housing Authority (PHA) and a Pennsylvania Limited Partnership (PLP) whose General Partner PHA owns and controls (PLP), including both (a) a transfer from PHA to the PLP and (b) any subsequent transfer from the PLP to PHA; and a transfer from PHA or a PLP controlled by PHA to a wholly owned subsidiary of PHA.
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Explanation:
Italics indicate new matter added.
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