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House Co-Sponsorship Memoranda
House of Representatives
Session of 2017 - 2018
Regular Session
MEMORANDUM
| Posted: | May 23, 2018 12:12 PM |
|---|---|
| From: | Representative Tina M. Davis |
| To: | All House members |
| Subject: | A Resolution to Study the Establishment of Municipal Charitable Fund Donations for Property Tax Credits |
| It is undeniable that high property taxes are a major concern for taxpayers in Pennsylvania. As the chosen representatives of those taxpayers, it is our duty to seek solutions to their concerns. Thus, in the near future, I will be introducing a resolution directing the Legislative Budget and Finance Committee (LBFC) to study and report on the establishment of charitable funds organized and maintained by municipalities, counties, and school districts for public projects to which property owners may donate in exchange for property tax credits. Recently, our good neighbors in New Jersey enacted a law to allow this practice in an effort to offset the consequences that the new federal cap on previously unlimited State and Local Tax (SALT) deductions may have on their citizens. The SALT cap was put in place to assist with lowering individual income-tax rates, which may provide modest tax relief to some taxpayers. However, some analysts conclude that the cap may actually increase taxes for those who previously itemized their deductions. We are obligated to our constituents to explore every option regarding property tax reform. My resolution directs LBFC to not only study the fiscal impact that New Jersey’s legislation, and that of the 33 other states who have enacted tax credit legislation, has on its residents, but to determine if similar programs may benefit the taxpayers of Pennsylvania and the Commonwealth. Please join me in showing our constituents that we’re listening to their concerns by co-sponsoring this resolution. |