Pennsylvania § 1522 - Commonwealth taxation.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 1522 — Commonwealth taxation., with citation guidance and answers to common questions.
§ 1522. Commonwealth taxation.
(a) General.--The effectuation of the purposes of the authority is for the benefit of the people of this Commonwealth, for the increase of commerce and prosperity and for the improvement of health, safety, welfare and living conditions.
(b) Authority.--Since the authority, as a public instrumentality of the Commonwealth, will be performing essential governmental functions in effectuating these purposes, the authority is not required to pay any taxes or assessments upon any property acquired or used or permitted to be used by the authority for its purposes.
(c) Bonds.--Bonds issued by the authority, the transfer and the income from the bonds, including profit made on their sale, are free from State and local taxation within this Commonwealth. The exclusion under this subsection shall not extend to gift, estate, succession or inheritance taxes or any other taxes not levied directly on the bonds, their transfer, the income from the bonds or the realization of profits on their sale.
Frequently Asked Questions About Pennsylvania § 1522
What does Pennsylvania Consolidated Statutes § 1522 cover?
Section 1522 ("Commonwealth taxation.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 1522?
A common citation format is "Pennsylvania Consolidated Statutes § 1522" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 1522 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.