Pennsylvania and 1031 Like-Kind Exchanges | 2022-2023

Designer: Jessica Garloff, In-house designer at Pennsylvania Association of Realtors®, Lemoyne, Pennsylvania, USA
Manufacturer: Pennsylvania Association of Realtors®, Lemoyne, Pennsylvania, USA

Pennsylvania Association of Realtors® lobbyists have been diligently working to have 1031 like-kind exchanges officially recognized in the state for several years.

On June 8, 2022, a significant milestone was achieved as nearly 175 Pennsylvania Realtors® engaged with over 80 legislators. Their purpose was to advocate for the recognition of 1031 like-kind exchanges in the commonwealth. To effectively convey the intricacies of this topic, a print piece was designed with the primary goal of presenting an easily digestible overview. The front cover featured a bold statement aimed at capturing the attention of lawmakers.

The design of the piece incorporated icons, statistics, and quotes strategically placed within boxes, effectively breaking up a text-heavy layout. The chosen color palette and overall style seamlessly aligned with PAR's brand guidelines.

In a pivotal moment on the late evening of July 8, Governor Tom Wolf signed the tax code into law (Act 53), which included the long-sought recognition of 1031 like-kind exchanges. This leave-behind item, designed to simplify a complex issue, was acknowledged by many in the legislature as a crucial tool in aiding understanding.

The Pennsylvania Association of Realtors® is driven by a mission to safeguard private property rights, foster a consistent and reliable marketplace, and promote the professional, ethical, and successful practice of real estate. This legislative victory marked a significant step towards fulfilling their mission and supporting the interests of their members.