Bill
Bill > SB898
PA SB898
PA SB898In Waterfront Development Tax Credit, further providing for waterfront development organizations, for waterfront development projects, for tax credit and for limitations.
summary
Introduced
06/30/2025
06/30/2025
In Committee
06/30/2025
06/30/2025
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 Waterfront Development Tax Credit, further providing for waterfront development organizations, for waterfront development projects, for tax credit and for limitations.
AI Summary
This bill modifies the Waterfront Development Tax Credit program to improve its administrative processes and increase financial incentives. The changes include establishing clearer timelines for the department to review and notify waterfront development organizations about their initial and renewal applications within 60 days. The bill increases the maximum tax credit percentage from 75% to 90% of a business firm's total contribution during a taxable year and raises the total annual tax credit cap from $5 million to $10 million. Additionally, the bill requires the department to develop and publish specific criteria for allocating tax credits in the Pennsylvania Bulletin, replacing the previous first-come, first-served approach. These modifications aim to provide more clarity, predictability, and financial support for waterfront development organizations, which typically work on projects that revitalize and improve waterfront areas in Pennsylvania. The changes will take effect 60 days after the bill's enactment.
Committee Categories
Budget and Finance
Sponsors (7)
Devlin Robinson (R)*,
John Kane (D),
Patty Kim (D),
Wayne Langerholc (R),
Nick Miller (D),
Elder Vogel (R),
Lindsey Williams (D),
Last Action
Referred to Finance (on 06/30/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...