Budget & Taxes

HB 643 modifies Pennsylvania's realty transfer tax provisions to establish fixed annual transfers of tax revenue. It requires $100 million in transfers for the fiscal year starting July 1, 2027, and $110 million for all subsequent fiscal years. This change directly affects individuals and entities paying real estate transfer taxes in Pennsylvania, as the specified amounts are deducted from the tax revenue pool. The bill specifies the exact dollar amounts and effective dates without altering the tax rate or adding new exemptions.

HB 411 adds a new supplemental annuity for eligible Pennsylvania state retirees, starting July 2025. It applies to retirees who retired before July 2, 2001, have specific service credit (excluding certain classifications), and are receiving monthly payments on July 1, 2025. The amount equals a percentage (ranging from 15% to 24.5%) of their July 2025 monthly annuity, based on their retirement date. The benefit is paid automatically unless retirees opt out, and the cost will be funded over 10 years starting July 2026. This bill does not apply to survivors or retirees with certain service types.

This bill adds a new supplemental monthly annuity to certain Pennsylvania state retirees' benefits, effective July 2025. It applies to retirees receiving superannuation, withdrawal, or disability annuities who retired before July 2, 2001, and do not have specific service credits (like Class D-4 or Class AA). The additional payment amount is a percentage of their July 2025 monthly annuity, ranging from 10% to 20% based on their retirement date. The cost will be funded through equal annual installments over 10 years starting July 2026.