SB 1277
An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for title of act, for construction, for definitions and for deteriorated areas; providing for ordinance and resolution limitations; further providing for exemption schedule and for procedure for obtaining exemption; and providing for public registry.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill amends the Local Economic Revitalization Tax Assistance Act to allow local taxing authorities to provide tax exemptions for new construction and improvements to deteriorated properties within economically depressed communities. It defines key terms like ‘deteriorated property’ and establishes procedures for obtaining these exemptions, including a public registry. The bill also includes provisions regarding ordinance limitations and specifies the length of exemption periods for different types of construction.
Key provisions
- Defines ‘deteriorated property’ and ‘local taxing authority’.
- Authorizes local taxing authorities to exempt new construction and improvements in deteriorated areas.
- Establishes a public registry of local taxing authorities offering these exemptions.
- Sets limits on the length of tax exemption for new construction (10 years) and residential construction (20 years).
- Includes requirements for contractors regarding licenses and compliance with labor laws.
- Specifies procedures for obtaining tax exemptions, including a written notification requirement.
- Addresses ordinance and resolution limitations related to exemptions.
- Requires local taxing authorities to update the public registry biennially.
Who is affected
- Local taxing authorities (counties, cities, etc.)
- Developers and property owners undertaking new construction or improvements
- Economically depressed communities
- Businesses located in deteriorated areas
Sponsors
Official sponsors from legislative records.
Primary sponsor
Patrick Stefano
Cosponsors
Daniel Laughlin
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