An Act providing for an annual revenue sharing program for municipalities relating to tax-exempt real property; establishing the Tax-exempt Property Municipal Assistance Fund; imposing powers and duties on the Department of Community and Economic Development; and making a repeal.

This bill creates a new state program to distribute money to Pennsylvania municipalities based on the value of tax-exempt properties located within their borders. It establishes a specific fund and requires county offices to collect detailed annual data on these properties, including owner information and assessed values, to calculate funding amounts. The Department of Community and Economic Development will oversee this process and distribute the funds, while counties that fail to submit the required reports by the deadline will lose their ability to receive any share of the money for that year.