HB 1555 — An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in inheritance tax, further providing for payment date and discount.

PRINTER'S NO.   1838

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



                         HOUSE BILL
                         No. 1555
                                               Session of
                                                 2025

     INTRODUCED BY DIAMOND, STENDER, KAUFFMAN, JAMES, SCIALABBA,
        ROWE, FLEMING, RIVERA, KENYATTA, GILLEN, BANTA AND ZIMMERMAN,
        JUNE 4, 2025

     REFERRED TO COMMITTEE ON FINANCE, JUNE 4, 2025


                                    AN ACT
 1   Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
 2      act relating to tax reform and State taxation by codifying
 3      and enumerating certain subjects of taxation and imposing
 4      taxes thereon; providing procedures for the payment,
 5      collection, administration and enforcement thereof; providing
 6      for tax credits in certain cases; conferring powers and
 7      imposing duties upon the Department of Revenue, certain
 8      employers, fiduciaries, individuals, persons, corporations
 9      and other entities; prescribing crimes, offenses and
10      penalties," in inheritance tax, further providing for payment
11      date and discount.
12      The General Assembly of the Commonwealth of Pennsylvania
13   hereby enacts as follows:
14      Section 1.    Section 2142 of the act of March 4, 1971 (P.L.6,
15   No.2), known as the Tax Reform Code of 1971, is amended to read:
16      Section 2142.    Payment Date and Discount.--Inheritance tax is
17   due at the date of the decedent's death and shall become
18   delinquent at the expiration of nine months after the decedent's
19   death. To the extent that the inheritance tax is paid within
20   three months after [the death of the decedent] the issuance of
21   the notice under section 2140, a discount of five per cent shall
22   be allowed.
1      Section 2.   This act shall apply to tax years after December
2   31, 2026.
3      Section 3.   This act shall take effect immediately.




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