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07/23/2024 01:13 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=15491
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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: December 2, 2014 02:58 PM
From: Senator Dominic Pileggi
To: All Senate members
Subject: Updating and Improving the Transit Revitalization Investment District (TRID) Act
 
I plan to introduce legislation which will reform and modernize the Transit Revitalization Investment District (TRID) Act.

Pennsylvania’s TRID law is 10 years old (Act 238 of 2004), and the goal is admirable: encouraging private development at mass transit hubs. However, only one TRID has been created in the past decade – making it clear the law needs to be improved.

The current TRID Act authorizes municipalities and counties to designate an area one-eighth to one-half of a mile around a mass transit stop or station as a TRID. Municipalities, counties and school districts are authorized to use incremental tax revenues generated by new real estate investment within the TRID for community revitalization projects which lead to business and residential development within and around the TRID.

This legislation will streamline the TRID creation process, set clear parameters for TRID funding and the use of those funds, and authorize a new “tax capture” funding mechanism.

Supporters of this legislation include the County Commissioners Association of Pennsylvania, the Pennsylvania State Association of Boroughs, the Pennsylvania State Association of Township Supervisors, the Pennsylvania Municipal League, the Pennsylvania Chamber of Business and Industry, the Delaware Valley Regional Planning Commission, the Greater Philadelphia Chamber of Commerce, and the Urban Redevelopment Authority of Pittsburgh.

This legislation will be similar to Senate Bill 1210 (printer’s number 2277) from the 2013-14 legislative session, which the Senate approved unanimously on September 16, 2014.



Introduced as SB385