Bill
Bill > SB235
summary
Introduced
02/26/2025
02/26/2025
In Committee
02/26/2025
02/26/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in city revitalization and improvement zones, further providing for approval.
AI Summary
This bill amends the Tax Reform Code of 1971 to modify the approval process for City Revitalization and Improvement Zones (CRIZ), specifically by requiring the Department of Community and Economic Development to approve applications for two additional zones each calendar year starting in 2026. The bill aims to expand the number of CRIZ zones, which are designated areas designed to stimulate economic development and urban renewal by providing tax incentives to businesses that invest and create jobs in these strategically chosen urban locations. The new provision will systematically increase the number of available zones, potentially helping more cities revitalize their economic landscapes. The bill will take effect 60 days after its enactment, providing a clear timeline for implementation of the new zone approval mechanism.
Committee Categories
Business and Industry
Sponsors (6)
Dave Argall (R)*,
Cris Dush (R),
Marty Flynn (D),
Dan Laughlin (R),
Tracy Pennycuick (R),
Lindsey Williams (D),
Last Action
Referred to Community, Economic & Recreational Development (on 02/26/2025)
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