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PA SB898
Bill
Status
6/30/2025
Primary Sponsor
Devlin Robinson
Click for details
AI Summary
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Increases the maximum tax credit a business can claim from 75% to 90% of total contributions made to waterfront development organizations during a taxable year
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Doubles the annual cap on total waterfront development tax credits from $5,000,000 to $10,000,000 per fiscal year
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Adds a 60-day deadline for the Department of Revenue to respond to renewal applications from waterfront development organizations
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Changes tax credit allocation from first-come, first-served to criteria-based distribution developed by the department and published in the Pennsylvania Bulletin
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Allows waterfront development organizations to submit project applications simultaneously with renewal applications, not just after initial approval
Legislative Description
In Waterfront Development Tax Credit, further providing for waterfront development organizations, for waterfront development projects, for tax credit and for limitations.
Last Action
Referred to Finance
6/30/2025