Conklin to introduce bill to close corporate realty transfer loophole
HARRISBURG, May 11 – In an effort to ensure corporations and large businesses are held accountable and pay their fair share, state Rep. Scott Conklin has announced his intent to introduce a bill that would close a realty transfer loophole in Pennsylvania.
Conklin, D-Centre, said a recent incident in Butler County occurred, where a business was sold after the creation of subsidiaries which were transferred – along with the property – to the new owner. He said the parties involved used a loophole in state law that resulted in the reduction of the amount of realty transfer fees required to be paid to the municipality and the state.
“Hard working Pennsylvanians should not have to pick up the tab for out of state corporations,” said Conklin. “Such incidents, like the one that occurred in Butler County, clearly highlight the need for my legislation, because these businesses should not be allowed to get away with fleecing taxpayers who are left to make up the difference.”
More information on Conklin’s pending legislation can be found at this link: https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20190&cosponId=31740