Bill > HB359

This bill amends the Tax Increment Financing Act to expand and clarify provisions related to tax increment districts and redevelopment efforts. The bill introduces new definitions, including "anti-displacement activity," which refers to projects that prevent or compensate for involuntary relocation of residents or businesses due to socioeconomic pressures. It extends the maximum duration of tax increment districts from 20 to 25 years and allows authorities to create redevelopment funds that can be supported by tax increments both during and after a district's existence. The bill broadens the scope of project plans to explicitly include anti-displacement activities and allows for consideration of impact areas outside the immediate district boundaries. Additionally, the bill provides more flexibility in defining project costs, now explicitly including anti-displacement activity expenses and allowing for broader organizational and administrative costs. The legislation aims to provide local authorities with more comprehensive tools for urban redevelopment, with a particular focus on mitigating potential negative economic impacts on existing residents and businesses during revitalization efforts. The changes take effect 60 days after the bill's passage.

Budget and Finance, Business and Industry, Housing and Urban Affairs

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=359