PRINTER'S NO. 308
No. 306 Session of 1977
INTRODUCED BY SCANLON, DOUGHERTY, ROSS AND ROMANELLI,
FEBRUARY 8, 1977
REFERRED TO LOCAL GOVERNMENT, FEBRUARY 8, 1977
AN ACT
1 Providing for disposition of certain realty tax moneys derived
2 from redevelopment projects by local taxing authorities.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. (a) All real property in a redevelopment project
6 established under the act of May 24, 1945 (P.L.991, No.385),
7 known as the "Urban Redevelopment Law," except publicly owned
8 property not subject to taxation by reason of such ownership,
9 shall be taxed in proportion to its value, and such taxes shall
10 be levied and collected as other taxes are levied and collected
11 by the respective municipality-taxing authorities.
12 (b) Whenever the governing body of any municipality-taxing
13 authority has approved the redevelopment plan of a redevelopment
14 authority, any redevelopment plan may contain a provision that
15 the taxes, if any, so levied upon such taxable property in a
16 redevelopment project each year by or for the benefit of a
17 municipality-taxing authority after the effective date of the
18 ordinance approving the redevelopment plan, shall be divided as
1 follows:
2 (1) That portion of the taxes which would be produced by
3 the rate upon which the tax is levied each year by or for
4 each of said municipality-taxing authorities upon the total
5 sum of the assessed value of the taxable property in the
6 redevelopment project as shown upon the assessment roll used
7 in connection with the taxation of such property by such
8 municipality-taxing authorities, last equalized prior to the
9 effective date of such ordinance, shall be allocated to, and
10 when collected shall be paid into, the funds of the
11 respective municipality-taxing authorities as taxes by or for
12 said municipality-taxing authorities on all other property
13 are paid (for the purpose of allocating taxes levied by or
14 for any municipality-taxing authorities which did not include
15 the territory in a redevelopment project on the effective
16 date of such ordinance but to which such territory has been
17 annexed or otherwise included after such effective date, the
18 assessment roll of the county last equalized on the effective
19 date of said ordinance shall be used in determining the
20 assessed valuation of the taxable property in the project on
21 said effective date).
22 (2) That portion of said levied taxes each year in
23 excess of such amount shall be allocated to and when
24 collected shall be paid into a special fund of the
25 redevelopment authority to pay the principal of and interest
26 on loans, moneys advanced to, or indebtedness (whether
27 funded, refunded, assumed or otherwise) incurred by such
28 redevelopment agency to finance or refinance, in whole or in
29 part, such redevelopment project. Unless and until the total
30 assessed valuation of the taxable property in a redevelopment
19770S0306B0308 - 2 -
1 project exceeds the total assessed value of the taxable
2 property in such project as shown by the last equalized
3 assessment roll referred to in paragraph (1), all of the
4 taxes levied and collected upon the taxable property in such
5 redevelopment project shall be paid into the funds of the
6 municipality-taxing authorities. When said loans, advances,
7 and indebtedness, if any, and interest thereon, have been
8 paid, then all moneys thereafter received from taxes upon the
9 taxable property in such redevelopment project shall be paid
10 into the funds of the respective municipality-taxing
11 authorities as taxes on all other property are paid.
12 Section 2. This act shall take effect immediately.
A4L45JLW/19770S0306B0308 - 3 -