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Pennsylvania State Senate
06/12/2024 03:59 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20230&chamber=S&cosponId=38492
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Senate of Pennsylvania
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: December 9, 2022 10:34 AM
From: Senator Maria Collett
To: All Senate members
Subject: Establishing the Public Works Impacted Business Tax Credit
 
Every year, government-supported construction projects happening across the Commonwealth seek to improve traffic safety, manage our storm water systems, and help grow our communities. These capital projects have great goals and will ultimately lead to a more prosperous state. However, in the short term, the construction required to improve our services and deliver a better Pennsylvania may impact businesses immediately surrounding the project. 
 
This legislation was introduced after I learned of a particular restaurant owner in my district whose business has taken a steep dive due to a necessary but prolonged bridge project. As we were brainstorming ways to support him, we realized he was hardly alone in his predicament. The legislation is modeled after a successful program in the City of Philadelphia, which will establish the Public Works Impacted Business Tax Credit. Previous sponsors include Senators Browne, Cappelletti, Muth, Kane, Santarsiero, Tartaglione, Fontana, Hughes, Tartaglione, Costa, and Street.
 
A business that has suffered a loss of net income and receipts/sales of 10% or more at a location where a public works project substantially obstructed access to the business for 30 days or more may apply for the Public Works Impacted Business Tax Credit. The credit is worth 20% of the lost sales/receipts at the location where the obstruction occurred, up to $20,000 and no more than the after-tax loss in net income. Unused Public Works Impacted Business Tax Credits may not be carried forward and will be nonrefundable. 
 
Establishing the Public Works Impacted Business Tax Credit recognizes that there are instances when achieving the greater good does have adverse short-term effects on our local businesses. My bill seeks to make a good faith effort to mitigate those impacts.
 
Please join me in cosponsoring this effort to support our main street businesses while we improve the infrastructure in our communities across the Commonwealth.