This bill aims to extend a tax exemption to trusts that own residential properties for the benefit of a person who has lived in the property for a long time. The exemption is currently available to individual longtime owner-occupants of residential properties. The change would allow more people to qualify for the tax exemption under certain conditions.

Amending Chapter 19-3900 of The Philadelphia Code, entitled "Tax Exemptions for Longtime Owner-Occupants of Residential Properties," to extend the tax provision to trusts that own property for the benefit of a natural person, all under certain conditions.