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§ 6901.316. State tax exemption

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: August 21, 2000

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 24 P.S. Education
Chapter 45. Tuition Account Programs and College Savings Bond Act (Refs & Annos)
Chapter 3. Tuition Account Programs
Effective: August 21, 2000
24 P.S. § 6901.316
§ 6901.316. State tax exemption
Currentness
(a) Property of funds.--The property of each of the funds and their income and operation shall be exempt from all taxation by the Commonwealth and its political subdivisions.
(b) Contributions.--Contributions made pursuant to a Tuition Account Program Contract; any increase in the value of those contributions, the retention, or transfer during life or as a result of death of any legal interest in a Tuition Account Program Contract; and payment of qualified higher education expenses of beneficiaries made pursuant to Tuition Account Program Contracts shall be exempt from all taxation by the Commonwealth and its political subdivisions.

Credits

1992, April 3, P.L. 28, No. 11, § 316, imd. effective. Amended 2000, June 22, P.L. 418, No. 58, § 5, effective in 60 days.
24 P.S. § 6901.316, PA ST 24 P.S. § 6901.316
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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