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Pennsylvania State Senate
06/07/2024 12:33 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20150&chamber=S&cosponId=18165
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Senate Co-Sponsorship Memoranda

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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: April 23, 2015 03:16 PM
From: Senator Patrick M. Browne
To: All Senate members
Subject: Tax Incremement Financing - State and local sales tax inclusion
 
In the near future, I will be reintroducing legislation that was Senate Bill 775 of the 2013-14 legislative session. Cosponsors of Senate Bill 775 of last session included Senators YUDICHAK, STACK , FONTANA , MENSCH , ERICKSON , COSTA , WHITE , PILEGGI, FARNESE, SCHWANK and BOSCOLA.

This legislation amends the Tax Increment Financing Law to add state and local sales taxes to the list of taxes included in the tax increment used to secure TIF projects.

As you may be aware, retail activity in Pennsylvania’s cities and boroughs continues to experience tremendous competitive pressures from similar activities in surrounding suburban areas. By adding state and local sales taxes to the increment used to pay off borrowing in TIF projects, our cities and boroughs will be able to provide more attractive incentives to prospective retailers in their effort to revitalize blighted and under-performing retail districts.

Introduced as SB935