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Bill > HB1874

PA HB1874

PA HB1874
In value capture approaches, further providing for creation of value capture area and providing for redevelopment authority use of incremental tax revenue in value capture area.

summary

Introduced
09/22/2025
In Committee
10/24/2025
Crossed Over
10/08/2025
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

Amending the act of December 8, 2004 (P.L.1801, No.238), entitled "An act empowering municipalities, counties and public transportation agencies to work cooperatively to establish Transit Revitalization Investment Districts (TRID), including partnerships with the National Railroad Passenger Corporation requiring planning studies, comprehensive plan and zoning amendments and use of existing statutes and techniques to achieve transit-oriented development, redevelopment, community revitalization and enhanced community character through TRID creation; establishing value capture areas as a means to reserve and use future, designated incremental tax revenues for public transportation capital improvements, related site development improvements and maintenance; promoting the involvement of and partnerships with the private sector in TRID development and implementation; encouraging public involvement during TRID planning and implementation; and providing for duties of the Department of Community and Economic Development," in value capture approaches, further providing for creation of value capture area AND PROVIDING FOR REDEVELOPMENT AUTHORITY USE OF <-- INCREMENTAL TAX REVENUE IN VALUE CAPTURE AREA.

AI Summary

This bill amends the Transit Revitalization Investment District (TRID) Act to clarify how incremental tax revenues can be used within a value capture area. Specifically, the bill establishes that when a designated management entity deposits incremental tax revenues into a separate tax increment fund for a redevelopment authority, those revenues must be used within the value capture area itself. This applies both during the active TRID period and after its termination, when participating municipalities, school districts, and counties may continue to deposit a portion of incremental tax revenue into the fund. A value capture area is a designated zone where increases in property values and tax revenues can be reinvested into local infrastructure and development projects. The bill ensures that these funds are specifically used to benefit the area where they were generated, potentially supporting ongoing maintenance, improvements, and economic development within the TRID boundaries. The legislation will take effect 60 days after its enactment, providing local governments and redevelopment authorities with clear guidelines for managing and utilizing these specialized tax revenues.

Committee Categories

Budget and Finance, Housing and Urban Affairs

Sponsors (15)

Last Action

Referred to Finance (on 10/24/2025)

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